Insider Buying: Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Purchases $125,850.00 in Stock

Posted by Joseph Griffin on Sep 16th, 2024

Donegal Group Inc. (NASDAQ:DGICA – Get Free Report) major shareholder Mutual Insurance Co Donegal acquired 8,390 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was purchased at an average price of $15.00 per share, for a total transaction of $125,850.00. Following the acquisition, the insider now directly owns 12,337,025 shares in the company, valued at approximately $185,055,375. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Mutual Insurance Co Donegal also recently made the following trade(s):

On Monday, September 9th, Mutual Insurance Co Donegal purchased 5,865 shares of Donegal Group stock. The stock was acquired at an average cost of $15.33 per share, for a total transaction of $89,910.45.
On Thursday, September 5th, Mutual Insurance Co Donegal acquired 4,889 shares of Donegal Group stock. The shares were acquired at an average cost of $15.32 per share, with a total value of $74,899.48.
On Tuesday, September 3rd, Mutual Insurance Co Donegal bought 9,452 shares of Donegal Group stock. The stock was acquired at an average cost of $15.24 per share, for a total transaction of $144,048.48.
On Friday, August 30th, Mutual Insurance Co Donegal purchased 8,028 shares of Donegal Group stock. The stock was bought at an average price of $15.20 per share, with a total value of $122,025.60.
On Wednesday, August 28th, Mutual Insurance Co Donegal acquired 6,000 shares of Donegal Group stock. The shares were bought at an average cost of $15.02 per share, for a total transaction of $90,120.00.
On Monday, August 26th, Mutual Insurance Co Donegal bought 9,996 shares of Donegal Group stock. The stock was bought at an average cost of $14.97 per share, with a total value of $149,640.12.
On Friday, August 23rd, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The shares were purchased at an average cost of $14.93 per share, for a total transaction of $149,300.00.
On Wednesday, August 21st, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The shares were purchased at an average price of $14.76 per share, with a total value of $125,460.00.
On Monday, August 19th, Mutual Insurance Co Donegal bought 10,000 shares of Donegal Group stock. The stock was purchased at an average price of $14.75 per share, for a total transaction of $147,500.00.
On Friday, August 16th, Mutual Insurance Co Donegal purchased 9,800 shares of Donegal Group stock. The shares were purchased at an average cost of $14.78 per share, for a total transaction of $144,844.00.

Donegal Group Trading Up 2.0 %

Shares of Donegal Group stock opened at $15.35 on Monday. Donegal Group Inc. has a fifty-two week low of $12.26 and a fifty-two week high of $15.41. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.39 and a current ratio of 0.39. The firm has a market capitalization of $512.58 million, a price-to-earnings ratio of 95.94 and a beta of -0.05. The stock has a 50 day moving average of $14.46 and a 200 day moving average of $13.75.

Donegal Group (NASDAQ:DGICA – Get Free Report) last released its quarterly earnings results on Thursday, July 25th. The insurance provider reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.04. The business had revenue of $246.77 million during the quarter, compared to analysts’ expectations of $243.00 million. Donegal Group had a return on equity of 0.89% and a net margin of 0.76%. As a group, research analysts predict that Donegal Group Inc. will post 0.45 earnings per share for the current year.

Donegal Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were paid a $0.172 dividend. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date of this dividend was Thursday, August 1st. Donegal Group’s dividend payout ratio (DPR) is 431.25%.

Hedge Funds Weigh In On Donegal Group

Hedge funds have recently made changes to their positions in the stock. Squarepoint Ops LLC purchased a new stake in Donegal Group in the second quarter valued at approximately $448,000. Hsbc Holdings PLC grew its stake 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 buying an additional 2,250 shares in the last quarter. Los Angeles Capital Management LLC grew 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 valued at $520,000 after buying an additional 19,707 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of Donegal Group in the 2nd quarter valued at $27,000. Finally, Bank of New York Mellon Corp lifted its stake 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 in the last quarter. Hedge funds and other institutional investors own 27.96% of the company’s stock.

About Donegal Group

(Get Free Report)

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.