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

Donegal Group Inc. (NASDAQ:DGICA)’s stock price hit a new 52-week high on Friday after an insider bought additional shares in the company. The stock traded as high as $16.00 and last traded at $15.97, with a volume of 27303 shares traded. The stock had previously closed at $15.84.

Specifically, major shareholder Mutual Insurance Co Donegal bought 8,100 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was purchased at an average cost of $15.93 per share, with a total value of $129,033.00. Following the transaction, the insider now directly owns 12,577,768 shares in the company, valued at $200,363,844.24. This trade represents a 0.06 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Mutual Insurance Co Donegal purchased 8,170 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were purchased at an average price of $15.95 per share, with a total value of $130,311.50. Following the purchase, the insider now directly owns 12,561,268 shares in the company, valued at $200,352,224.60. This trade represents a 0.07 % increase in their position. The disclosure for this purchase can be found here. In other news, major shareholder Mutual Insurance Co Donegal purchased 8,500 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was bought at an average price of $15.74 per share, for a total transaction of $133,790.00. Following the purchase, the insider now owns 12,544,998 shares of the company’s stock, valued at $197,458,268.52. The trade was a 0.07 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Analyst Upgrades and Downgrades

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

Donegal Group Trading Down 0.3 %

The stock has a market capitalization of $528.65 million, a P/E ratio of 21.01 and a beta of -0.06. The stock has a 50-day moving average price of $15.02 and a two-hundred day moving average price of $14.13. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.38.

Donegal Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were given a dividend of $0.172 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.69 annualized dividend and a dividend yield of 4.36%. Donegal Group’s dividend payout ratio is presently 90.79%.

Institutional Investors Weigh In On Donegal Group

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Donegal Group by 34.7% in the first quarter. Vanguard Group Inc. now owns 1,183,005 shares of the insurance provider’s stock worth $16,728,000 after acquiring an additional 304,477 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Donegal Group by 82.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 105,257 shares of the insurance provider’s stock worth $1,551,000 after acquiring an additional 47,447 shares in the last quarter. Squarepoint Ops LLC bought a new stake in Donegal Group in the second quarter worth $448,000. Los Angeles Capital Management LLC raised its stake in shares of Donegal Group by 95.2% in the second quarter. Los Angeles Capital Management LLC now owns 40,407 shares of the insurance provider’s stock worth $520,000 after purchasing an additional 19,707 shares during the last quarter. Finally, Barclays PLC raised its stake in shares of Donegal Group by 38.7% in the third quarter. Barclays PLC now owns 64,952 shares of the insurance provider’s stock worth $957,000 after purchasing an additional 18,132 shares during the last quarter. 27.96% of the stock is currently 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.