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

Shares of Donegal Group Inc. (NASDAQ:DGICA) hit a new 52-week high on Monday after an insider bought additional shares in the company. The stock traded as high as $17.00 and last traded at $17.00, with a volume of 1509 shares traded. The stock had previously closed at $16.33.

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

Wall Street Analyst Weigh In

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

Donegal Group Price Performance

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

Donegal Group Announces Dividend

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

Hedge Funds Weigh In On Donegal Group

Hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp increased its position in Donegal Group by 4.4% during 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 buying an additional 5,416 shares during the last quarter. Innealta Capital LLC acquired a new position in Donegal Group during the second quarter worth $27,000. Los Angeles Capital Management LLC increased its position in Donegal Group by 95.2% during the second quarter. Los Angeles Capital Management LLC now owns 40,407 shares of the insurance provider’s stock worth $520,000 after buying an additional 19,707 shares during the last quarter. Hsbc Holdings PLC increased its position in Donegal Group by 7.8% during the second quarter. Hsbc Holdings PLC now owns 31,091 shares of the insurance provider’s stock worth $389,000 after buying an additional 2,250 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new position in Donegal Group during the second quarter worth $448,000. 27.96% of the stock is owned by institutional investors and hedge funds.

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.