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

Shares of Donegal Group Inc. (NASDAQ:DGICA) hit a new 52-week high on Friday following insider buying activity. The company 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 firm’s stock in a transaction dated Wednesday, November 13th. The stock was purchased at an average price of $15.93 per share, for a total transaction of $129,033.00. Following the completion of the purchase, the insider now directly owns 12,577,768 shares of the company’s stock, valued at $200,363,844.24. This trade represents a 0.06 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Mutual Insurance Co Donegal acquired 8,170 shares of Donegal Group stock in a transaction that occurred on 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 transaction, the insider now owns 12,561,268 shares of the company’s stock, valued at $200,352,224.60. The trade was 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 acquired 8,500 shares of Donegal Group stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 12,544,998 shares in the company, valued at $197,458,268.52. The trade was a 0.07 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Wall Street Analyst Weigh In

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

Donegal Group Stock Performance

The company has a market cap of $528.65 million, a PE ratio of 21.01 and a beta of -0.06. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.38 and a quick ratio of 0.38. The business has a 50-day moving average of $15.02 and a 200 day moving average of $14.13.

Donegal Group Announces Dividend

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

Institutional Trading of Donegal Group

A number of hedge funds and other institutional investors have recently bought and sold shares of DGICA. BNP Paribas Financial Markets increased its position in Donegal Group by 125.0% in the first quarter. BNP Paribas Financial Markets now owns 10,364 shares of the insurance provider’s stock worth $147,000 after buying an additional 5,757 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of 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 during the period. EntryPoint Capital LLC bought a new position in shares of Donegal Group in the first quarter worth about $137,000. Jacobs Levy Equity Management Inc. boosted its stake in shares of Donegal Group by 30.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 75,833 shares of the insurance provider’s stock worth $1,072,000 after acquiring an additional 17,614 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Donegal Group by 4.4% in the second 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 period. Hedge funds and other institutional investors own 27.96% of the company’s stock.

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.