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

Shares of Donegal Group Inc. (NASDAQ:DGICA) reached a new 52-week high during mid-day trading on Monday following insider buying activity. The stock traded as high as $17.00 and last traded at $17.00, with a volume of 1509 shares. The stock had previously closed at $16.33.

Specifically, major shareholder Mutual Insurance Co Donegal bought 7,817 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were acquired at an average cost of $16.29 per share, with a total value of $127,338.93. Following the completion of the transaction, the insider now owns 13,152,372 shares in the company, valued at $214,252,139.88. The trade was a 0.06 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Mutual Insurance Co Donegal bought 8,729 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were acquired at an average cost of $16.37 per share, for a total transaction of $142,893.73. Following the completion of the transaction, the insider now owns 13,134,755 shares of the company’s stock, valued at approximately $215,015,939.35. The trade was a 0.07 % increase in their position. The disclosure for this purchase can be found here. In other Donegal Group news, major shareholder Mutual Insurance Co Donegal bought 70,000 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were acquired at an average cost of $16.61 per share, with a total value of $1,162,700.00. Following the completion of the transaction, the insider now owns 13,116,126 shares in the company, valued at $217,858,852.86. The trade was a 0.54 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analyst Ratings Changes

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

Donegal Group Price Performance

The stock has a market capitalization of $555.28 million, a price-to-earnings ratio of 21.55 and a beta of -0.03. 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 business has a 50-day simple moving average of $15.67 and a two-hundred day simple moving average of $14.62.

Donegal Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were given a $0.172 dividend. The ex-dividend date was Friday, November 1st. This represents a $0.69 dividend on an annualized basis and a yield of 4.20%. Donegal Group’s dividend payout ratio (DPR) is 90.79%.

Institutional Investors Weigh In On Donegal Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Martingale Asset Management L P lifted its position in shares of Donegal Group by 4.2% during the 3rd quarter. Martingale Asset Management L P now owns 22,353 shares of the insurance provider’s stock valued at $329,000 after acquiring an additional 902 shares during the last quarter. Innealta Capital LLC purchased a new stake in shares of Donegal Group in the second quarter valued at $27,000. Hsbc Holdings PLC lifted its holdings in shares of Donegal Group by 7.8% in the second quarter. Hsbc Holdings PLC now owns 31,091 shares of the insurance provider’s stock valued at $389,000 after purchasing an additional 2,250 shares in the last quarter. Foundry Partners LLC lifted its holdings in shares of Donegal Group by 1.0% in the third quarter. Foundry Partners LLC now owns 244,600 shares of the insurance provider’s stock valued at $3,605,000 after purchasing an additional 2,310 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Donegal Group by 1.4% in the third quarter. Geode Capital Management LLC now owns 364,313 shares of the insurance provider’s stock valued at $5,371,000 after purchasing an additional 4,933 shares in the last quarter. Institutional investors and hedge funds own 27.96% of the company’s stock.

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.