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

Donegal Group Inc. (NASDAQ:DGICA) hit a new 52-week high during mid-day trading on Tuesday following insider buying activity. The stock traded as high as $15.35 and last traded at $15.29, with a volume of 82608 shares changing hands. The stock had previously closed at $15.22.

Specifically, major shareholder Mutual Insurance Co Donegal bought 8,028 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was purchased at an average cost of $15.20 per share, with a total value of $122,025.60. Following the completion of the acquisition, the insider now owns 12,260,719 shares in the company, valued at approximately $186,362,928.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Mutual Insurance Co Donegal acquired 6,000 shares of Donegal Group stock in a transaction on Wednesday, August 28th. The shares were bought at an average cost of $15.02 per share, for a total transaction of $90,120.00. Following the completion of the purchase, the insider now directly owns 12,247,299 shares of the company’s stock, valued at $183,954,430.98. The disclosure for this purchase can be found here. In related news, major shareholder Mutual Insurance Co Donegal purchased 9,996 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was bought at an average cost of $14.97 per share, for a total transaction of $149,640.12. Following the completion of the transaction, the insider now directly owns 12,236,099 shares in the company, valued at $183,174,402.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Donegal Group Stock Performance

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 stock has a market cap of $511.91 million, a P/E ratio of 95.56 and a beta of -0.05. The business has a 50 day moving average price of $14.06 and a 200 day moving average price of $13.70.

Donegal Group (NASDAQ:DGICA) last issued its earnings results on Thursday, July 25th. The insurance provider reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.04. Donegal Group had a net margin of 0.76% and a return on equity of 0.89%. The firm had revenue of $246.77 million during the quarter, compared to analyst estimates of $243.00 million. As a group, sell-side analysts expect that Donegal Group Inc. will post 0.45 EPS for the current year.

Donegal Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were paid a $0.172 dividend. The ex-dividend date was Thursday, August 1st. This represents a $0.69 annualized dividend and a yield of 4.50%. Donegal Group’s dividend payout ratio (DPR) is currently 431.25%.

Institutional Investors Weigh In On Donegal Group

A number of institutional investors and hedge funds have recently bought and sold shares of the company. CWM LLC boosted its stake in shares of Donegal Group by 170.9% during the fourth quarter. CWM LLC now owns 1,796 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 1,133 shares in the last quarter. Innealta Capital LLC purchased a new position in shares of Donegal Group in the 2nd quarter valued at $27,000. Hsbc Holdings PLC increased its holdings 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 valued at $389,000 after acquiring an additional 2,250 shares during the period. Bank of New York Mellon Corp raised its position in shares of Donegal Group by 4.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 129,551 shares of the insurance provider’s stock worth $1,669,000 after acquiring an additional 5,416 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in shares of Donegal Group by 125.0% during the 1st quarter. BNP Paribas Financial Markets now owns 10,364 shares of the insurance provider’s stock worth $147,000 after purchasing an additional 5,757 shares during the last quarter. 27.96% of the stock is owned by institutional investors.

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.