Donegal Group (NASDAQ:DGICA) Reaches New 52-Week High Following Insider Buying Activity

Donegal Group Inc. (NASDAQ:DGICA) shares hit a new 52-week high during mid-day trading 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. The stock had previously closed at $15.84.

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

Analyst Ratings Changes

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

Donegal Group Trading Down 0.3 %

The company has a market capitalization of $528.65 million, a PE ratio of 20.78 and a beta of -0.06. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07. The stock has a fifty day moving average of $15.04 and a two-hundred day moving average of $14.15.

Donegal Group Dividend Announcement

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

Hedge Funds Weigh In On Donegal Group

A number of large investors have recently modified their holdings of DGICA. Vanguard Group Inc. grew its position in Donegal Group by 34.7% during the 1st 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 during the last quarter. EntryPoint Capital LLC bought a new position in Donegal Group during the 1st quarter worth approximately $137,000. BNP Paribas Financial Markets grew its position in 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 acquiring an additional 5,757 shares during the last quarter. Los Angeles Capital Management LLC grew its position in Donegal Group by 95.2% during the 2nd quarter. Los Angeles Capital Management LLC now owns 40,407 shares of the insurance provider’s stock worth $520,000 after acquiring an additional 19,707 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Donegal Group by 4.4% during 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 during the last quarter. 27.96% of the stock is owned by hedge funds and other 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.