Donegal Group (NASDAQ:DGICA) Sets New 12-Month High After Insider Buying Activity

Donegal Group Inc. (NASDAQ:DGICA) hit a new 52-week high on Tuesday following insider buying activity. The company traded as high as $18.19 and last traded at $18.17, with a volume of 204423 shares changing hands. The stock had previously closed at $17.49.

Specifically, major shareholder Mutual Insurance Co Donegal acquired 14,700 shares of the business’s stock in a transaction dated Thursday, February 27th. The stock was purchased at an average price of $17.06 per share, for a total transaction of $250,782.00. Following the completion of the transaction, the insider now directly owns 13,189,273 shares in the company, valued at approximately $225,008,997.38. This trade represents a 0.11 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Mutual Insurance Co Donegal bought 12,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The stock was purchased at an average price of $16.49 per share, for a total transaction of $197,880.00. Following the completion of the transaction, the insider now directly owns 13,164,372 shares of the company’s stock, valued at $217,080,494.28. This represents a 0.09 % increase in their position. The disclosure for this purchase can be found here.

Donegal Group Trading Up 3.9 %

The firm has a market cap of $615.89 million, a P/E ratio of 11.95 and a beta of -0.02. The stock has a 50 day simple moving average of $15.22 and a 200-day simple moving average of $15.31. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07.

Donegal Group (NASDAQ:DGICA) last announced its quarterly earnings results on Thursday, February 20th. The insurance provider reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.39. Donegal Group had a net margin of 5.14% and a return on equity of 9.50%. The company had revenue of $249.70 million for the quarter, compared to analysts’ expectations of $250.61 million. On average, equities research analysts expect that Donegal Group Inc. will post 1.2 EPS for the current fiscal year.

Donegal Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Tuesday, February 4th were given a $0.1725 dividend. The ex-dividend date was Tuesday, February 4th. This represents a $0.69 annualized dividend and a yield of 3.80%. This is a positive change from Donegal Group’s previous quarterly dividend of $0.17. Donegal Group’s dividend payout ratio (DPR) is currently 45.39%.

Institutional Investors Weigh In On Donegal Group

Several large investors have recently added to or reduced their stakes in the stock. KLP Kapitalforvaltning AS bought a new position in Donegal Group during the fourth quarter valued at $68,000. SG Americas Securities LLC purchased a new position in shares of Donegal Group during the 4th quarter worth about $128,000. BNP Paribas Financial Markets grew its holdings in Donegal Group by 117.2% during the 4th quarter. BNP Paribas Financial Markets now owns 8,420 shares of the insurance provider’s stock valued at $130,000 after purchasing an additional 4,544 shares during the last quarter. XTX Topco Ltd purchased a new stake in Donegal Group in the 4th quarter worth about $162,000. Finally, Private Advisor Group LLC bought a new stake in Donegal Group in the fourth quarter worth about $177,000. 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.