Donegal Group (NASDAQ:DGICA) Sets New 12-Month High – Here’s Why

Donegal Group Inc. (NASDAQ:DGICA) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $15.89 and last traded at $15.89, with a volume of 5131 shares. The stock had previously closed at $15.71.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Donegal Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 25th.

Donegal Group Trading Down 0.1 %

The company has a debt-to-equity ratio of 0.07, a current ratio of 0.39 and a quick ratio of 0.39. The company has a market cap of $525.64 million, a price-to-earnings ratio of 20.66 and a beta of -0.06. The business’s 50-day simple moving average is $14.97 and its 200-day simple moving average is $14.07.

Donegal Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be given a $0.172 dividend. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date is Friday, November 1st. Donegal Group’s dividend payout ratio is presently 90.79%.

Insider Activity

In other news, VP Vincent Anthony Viozzi sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $15.24, for a total value of $457,200.00. Following the completion of the transaction, the vice president now owns 9,891 shares of the company’s stock, valued at $150,738.84. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, VP Vincent Anthony Viozzi sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $15.24, for a total value of $457,200.00. Following the completion of the transaction, the vice president now owns 9,891 shares of the company’s stock, valued at $150,738.84. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Mutual Insurance Co Donegal acquired 150,432 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was purchased at an average cost of $15.49 per share, with a total value of $2,330,191.68. Following the transaction, the insider now owns 12,502,366 shares of the company’s stock, valued at approximately $193,661,649.34. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 265,250 shares of company stock valued at $4,047,044 and sold 86,000 shares valued at $1,325,200. Company insiders own 6.63% of the company’s stock.

Institutional Investors Weigh In On Donegal Group

A number of institutional investors have recently bought and sold shares of the stock. Foundry Partners LLC grew its holdings in Donegal Group by 1.0% in the third quarter. Foundry Partners LLC now owns 244,600 shares of the insurance provider’s stock valued at $3,605,000 after purchasing an additional 2,310 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Donegal Group by 82.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 105,257 shares of the insurance provider’s stock valued at $1,551,000 after purchasing an additional 47,447 shares during the period. Squarepoint Ops LLC purchased a new stake in Donegal Group during the second quarter worth approximately $448,000. Hsbc Holdings PLC grew its stake in Donegal Group by 7.8% during the second quarter. Hsbc Holdings PLC now owns 31,091 shares of the insurance provider’s stock worth $389,000 after buying an additional 2,250 shares during the period. Finally, Los Angeles Capital Management LLC grew its stake in Donegal Group by 95.2% during the second quarter. Los Angeles Capital Management LLC now owns 40,407 shares of the insurance provider’s stock worth $520,000 after buying an additional 19,707 shares during the period. 27.96% of the stock is currently owned by hedge funds and other institutional investors.

About Donegal Group

Donegal Group Inc, an insurance holding company, provides property and casualty insurance to businesses and individuals. It operates through three segments: Investment Function, Personal Lines of Insurance, and Commercial Lines of Insurance. The company offers private passenger automobile policies that provide protection against liability for bodily injury and property damage arising from automobile accidents, as well as protection against loss from damage to automobiles; and homeowners policies, which provide coverage for damage to residences and their contents from a range of perils, including fire, lightning, windstorm, and theft, as well as liability of the insured arising from injury to other persons or their property.