Donegal Group (NASDAQ:DGICA) Hits New 52-Week High After Insider Buying Activity

Shares of Donegal Group Inc. (NASDAQ:DGICA) reached a new 52-week high during mid-day trading on Monday following insider buying activity. The company traded as high as $15.41 and last traded at $15.39, with a volume of 4606 shares traded. The stock had previously closed at $15.35.

Specifically, major shareholder Mutual Insurance Co Donegal bought 6,005 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was bought at an average cost of $15.34 per share, with a total value of $92,116.70. Following the completion of the transaction, the insider now directly owns 12,351,934 shares of the company’s stock, valued at approximately $189,478,667.56. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Mutual Insurance Co Donegal acquired 8,390 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was acquired at an average price of $15.00 per share, with a total value of $125,850.00. Following the completion of the acquisition, the insider now directly owns 12,337,025 shares of the company’s stock, valued at approximately $185,055,375. The disclosure for this purchase can be found here. In related news, major shareholder Mutual Insurance Co Donegal purchased 5,865 shares of Donegal Group stock in a transaction on Monday, September 9th. The stock was bought at an average price of $15.33 per share, with a total value of $89,910.45. Following the completion of the transaction, the insider now directly owns 12,323,325 shares of the company’s stock, valued at $188,916,572.25. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.

Donegal Group Price Performance

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 stock’s 50 day moving average price is $14.51 and its two-hundred day moving average price is $13.76. The firm has a market capitalization of $511.25 million, a price-to-earnings ratio of 95.69 and a beta of -0.05.

Donegal Group (NASDAQ:DGICA) last posted its quarterly earnings data on Thursday, July 25th. The insurance provider reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.04. The business had revenue of $246.77 million during the quarter, compared to analysts’ expectations of $243.00 million. Donegal Group had a return on equity of 0.89% and a net margin of 0.76%. On average, equities research analysts anticipate that Donegal Group Inc. will post 0.45 EPS for the current year.

Donegal Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were given a dividend of $0.172 per share. This represents a $0.69 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date of this dividend was Thursday, August 1st. Donegal Group’s dividend payout ratio (DPR) is presently 431.25%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Innealta Capital LLC acquired a new position in shares of Donegal Group in the 2nd quarter worth approximately $27,000. EntryPoint Capital LLC acquired a new stake in shares of Donegal Group in the 1st quarter valued at $137,000. BNP Paribas Financial Markets grew its holdings in shares of Donegal Group by 125.0% in the 1st quarter. BNP Paribas Financial Markets now owns 10,364 shares of the insurance provider’s stock worth $147,000 after purchasing an additional 5,757 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Donegal Group during the 1st quarter worth about $293,000. Finally, Hsbc Holdings PLC lifted its holdings in Donegal Group by 7.8% during the 2nd quarter. Hsbc Holdings PLC now owns 31,091 shares of the insurance provider’s stock valued at $389,000 after purchasing an additional 2,250 shares during the last quarter. 27.96% of the stock is owned by institutional investors.

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.