Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Purchases 270,000 Shares of Stock

Donegal Group Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 270,000 shares of Donegal Group stock in a transaction that occurred on Friday, December 6th. The stock was acquired at an average cost of $16.66 per share, for a total transaction of $4,498,200.00. Following the purchase, the insider now owns 13,046,126 shares of the company’s stock, valued at $217,348,459.16. The trade was a 2.11 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Mutual Insurance Co Donegal also recently made the following trade(s):

• On Wednesday, December 4th, Mutual Insurance Co Donegal bought 9,522 shares of Donegal Group stock. The shares were bought at an average cost of $16.54 per share, for a total transaction of $157,493.88.
• On Monday, December 2nd, Mutual Insurance Co Donegal purchased 8,354 shares of Donegal Group stock. The stock was bought at an average cost of $16.73 per share, with a total value of $139,762.42.
• On Friday, November 29th, Mutual Insurance Co Donegal acquired 8,300 shares of Donegal Group stock. The stock was bought at an average price of $16.59 per share, with a total value of $137,697.00.
• On Wednesday, November 27th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The shares were bought at an average cost of $16.47 per share, for a total transaction of $139,995.00.
• On Monday, November 25th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The shares were bought at an average price of $16.19 per share, for a total transaction of $137,615.00.
• On Tuesday, November 19th, Mutual Insurance Co Donegal purchased 37,748 shares of Donegal Group stock. The shares were purchased at an average cost of $15.81 per share, for a total transaction of $596,795.88.
• On Wednesday, November 13th, Mutual Insurance Co Donegal acquired 8,100 shares of Donegal Group stock. The shares were purchased at an average price of $15.93 per share, with a total value of $129,033.00.
• On Monday, November 11th, Mutual Insurance Co Donegal bought 8,170 shares of Donegal Group stock. The stock was purchased at an average price of $15.95 per share, for a total transaction of $130,311.50.
• On Thursday, November 7th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were acquired at an average price of $15.74 per share, with a total value of $133,790.00.
• On Monday, November 4th, Mutual Insurance Co Donegal acquired 4,137 shares of Donegal Group stock. The shares were acquired at an average price of $15.20 per share, with a total value of $62,882.40.

Donegal Group Stock Down 0.8 %

Shares of NASDAQ:DGICA opened at $16.35 on Tuesday. The stock has a market cap of $554.27 million, a price-to-earnings ratio of 21.51 and a beta of -0.03. The business’s 50 day moving average is $15.48 and its 200 day moving average is $14.50. Donegal Group Inc. has a 12-month low of $12.26 and a 12-month high of $17.00. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.07.

Donegal Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were paid a $0.172 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.69 annualized dividend and a dividend yield of 4.21%. Donegal Group’s payout ratio is 90.79%.

Institutional Trading of Donegal Group

Several institutional investors and hedge funds have recently made changes to their positions in DGICA. Vanguard Group Inc. increased its position in shares of Donegal Group by 34.7% during the first quarter. Vanguard Group Inc. now owns 1,183,005 shares of the insurance provider’s stock valued at $16,728,000 after acquiring an additional 304,477 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Donegal Group by 82.1% during the 3rd 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 last quarter. Squarepoint Ops LLC bought a new stake in shares of Donegal Group during the 2nd quarter worth $448,000. Los Angeles Capital Management LLC boosted its holdings in shares of Donegal Group by 95.2% in the 2nd 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 last quarter. Finally, Barclays PLC grew its position in Donegal Group by 38.7% during the third quarter. Barclays PLC now owns 64,952 shares of the insurance provider’s stock valued at $957,000 after buying an additional 18,132 shares during the period. Hedge funds and other institutional investors own 27.96% of the company’s stock.

Analyst Ratings Changes

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

Donegal Group Company Profile

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.