Geode Capital Management LLC Increases Holdings in Donegal Group Inc. (NASDAQ:DGICA)

Geode Capital Management LLC boosted its position in shares of Donegal Group Inc. (NASDAQ:DGICA) by 1.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 364,313 shares of the insurance provider’s stock after purchasing an additional 4,933 shares during the quarter. Geode Capital Management LLC owned about 1.09% of Donegal Group worth $5,371,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of DGICA. Martingale Asset Management L P raised its stake in Donegal Group by 4.2% in the third quarter. Martingale Asset Management L P now owns 22,353 shares of the insurance provider’s stock worth $329,000 after buying an additional 902 shares in the last quarter. Hsbc Holdings PLC raised its position in shares of Donegal Group by 7.8% in the 2nd quarter. Hsbc Holdings PLC now owns 31,091 shares of the insurance provider’s stock worth $389,000 after acquiring an additional 2,250 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Donegal Group during the 2nd quarter worth $448,000. Los Angeles Capital Management LLC boosted its position 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 valued at $520,000 after purchasing an additional 19,707 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Donegal Group by 39.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 60,767 shares of the insurance provider’s stock valued at $896,000 after purchasing an additional 17,125 shares during the last quarter. 27.96% of the stock is owned by institutional investors.

Donegal Group Price Performance

NASDAQ:DGICA opened at $15.14 on Friday. The stock has a market capitalization of $513.19 million, a PE ratio of 19.92 and a beta of -0.03. Donegal Group Inc. has a 52 week low of $12.26 and a 52 week 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. The stock’s 50-day moving average price is $15.88 and its 200-day moving average price is $14.84.

Donegal Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Tuesday, February 4th will be issued a $0.1725 dividend. This represents a $0.69 annualized dividend and a yield of 4.56%. The ex-dividend date of this dividend is Tuesday, February 4th. This is a positive change from Donegal Group’s previous quarterly dividend of $0.17. Donegal Group’s payout ratio is presently 90.79%.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Donegal Group news, VP Sanjay Pandey sold 35,000 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $15.50, for a total value of $542,500.00. Following the transaction, the vice president now owns 6,871 shares in the company, valued at approximately $106,500.50. This trade represents a 83.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Christina Marie Hoffman sold 30,000 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $15.82, for a total transaction of $474,600.00. Following the completion of the sale, the vice president now owns 4,289 shares of the company’s stock, valued at $67,851.98. This trade represents a 87.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 616,809 shares of company stock worth $10,026,700 and sold 379,564 shares worth $6,212,273. 5.00% of the stock is currently owned by company insiders.

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.