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

Donegal Group Inc. (NASDAQ:DGICA)’s stock price reached a new 52-week high 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.

Wall Street Analysts Forecast Growth

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

Donegal Group Price Performance

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

Donegal Group Announces Dividend

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

Insiders Place Their Bets

In other Donegal Group news, CAO David Benjamin Bawel sold 9,000 shares of the firm’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $15.50, for a total transaction of $139,500.00. Following the transaction, the chief accounting officer now directly owns 19,665 shares of the company’s stock, valued at approximately $304,807.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, major shareholder Mutual Insurance Co Donegal bought 4,956 shares of the stock in a transaction dated Monday, August 12th. The shares were acquired at an average price of $14.15 per share, with a total value of $70,127.40. Following the completion of the acquisition, the insider now directly owns 12,148,415 shares in the company, valued at approximately $171,900,072.25. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO David Benjamin Bawel sold 9,000 shares of Donegal Group stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $15.50, for a total transaction of $139,500.00. Following the completion of the sale, the chief accounting officer now directly owns 19,665 shares in the company, valued at approximately $304,807.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have acquired 265,250 shares of company stock valued at $4,047,044 and have sold 86,000 shares valued at $1,325,200. 6.63% of the stock is currently owned by insiders.

Institutional Trading of Donegal Group

A number of institutional investors have recently added to or reduced their stakes in DGICA. BNP Paribas Financial Markets boosted its holdings 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 in the last quarter. Empowered Funds LLC boosted its holdings in Donegal Group by 8.2% during the first quarter. Empowered Funds LLC now owns 111,216 shares of the insurance provider’s stock worth $1,573,000 after buying an additional 8,400 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Donegal Group by 34.7% during the first quarter. Vanguard Group Inc. now owns 1,183,005 shares of the insurance provider’s stock worth $16,728,000 after buying an additional 304,477 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in Donegal Group during the first quarter worth about $137,000. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in Donegal Group by 30.3% during the first quarter. Jacobs Levy Equity Management Inc. now owns 75,833 shares of the insurance provider’s stock worth $1,072,000 after buying an additional 17,614 shares in the last quarter. Hedge funds and other 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.