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

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

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

Donegal Group Trading Up 0.1 %

The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $511.91 million, a P/E ratio of 95.81 and a beta of -0.05. The business has a fifty day moving average price of $14.56 and a 200 day moving average price of $13.77.

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

Donegal Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were issued a $0.172 dividend. This represents a $0.69 annualized dividend and a dividend yield of 4.49%. The ex-dividend date was Thursday, August 1st. Donegal Group’s payout ratio is 431.25%.

Institutional Trading of Donegal Group

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

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.