Geode Capital Management LLC Boosts Holdings in Donegal Group Inc. (NASDAQ:DGICA)

Geode Capital Management LLC increased its position in shares of Donegal Group Inc. (NASDAQ:DGICA) by 1.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 364,313 shares of the insurance provider’s stock after purchasing an additional 4,933 shares during the quarter. Geode Capital Management LLC’s holdings in Donegal Group were worth $5,371,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Foundry Partners LLC increased its stake in Donegal Group by 1.0% during the third quarter. Foundry Partners LLC now owns 244,600 shares of the insurance provider’s stock worth $3,605,000 after acquiring an additional 2,310 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of 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 purchasing an additional 5,416 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Donegal Group by 82.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 105,257 shares of the insurance provider’s stock worth $1,551,000 after purchasing an additional 47,447 shares during the period. Barclays PLC increased its position in shares of Donegal Group by 38.7% during the 3rd quarter. Barclays PLC now owns 64,952 shares of the insurance provider’s stock worth $957,000 after purchasing an additional 18,132 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Donegal Group by 39.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 60,767 shares of the insurance provider’s stock valued at $896,000 after buying an additional 17,125 shares during the period. Hedge funds and other institutional investors own 27.96% of the company’s stock.

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.

Insider Activity at Donegal Group

In other Donegal Group news, major shareholder Mutual Insurance Co Donegal purchased 270,000 shares of the company’s stock in a transaction on Friday, December 6th. The stock was acquired at an average price of $16.66 per share, for a total transaction of $4,498,200.00. Following the completion of the purchase, the insider now directly owns 13,046,126 shares in the company, valued at approximately $217,348,459.16. The trade was a 2.11 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Barry C. Huber sold 4,500 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $15.70, for a total value of $70,650.00. Following the completion of the sale, the director now owns 14,867 shares in the company, valued at approximately $233,411.90. The trade was a 23.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 616,809 shares of company stock worth $10,026,700 and have sold 379,564 shares worth $6,212,273. Company insiders own 5.00% of the company’s stock.

Donegal Group Stock Performance

NASDAQ:DGICA opened at $15.14 on Friday. Donegal Group Inc. has a fifty-two week low of $12.26 and a fifty-two week high of $17.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.38. The company has a 50 day moving average price of $15.88 and a 200 day moving average price of $14.84. The stock has a market capitalization of $513.19 million, a P/E ratio of 19.92 and a beta of -0.03.

Donegal Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 4th will be paid a $0.1725 dividend. The ex-dividend date of this dividend is Tuesday, February 4th. This is a boost from Donegal Group’s previous quarterly dividend of $0.17. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.56%. Donegal Group’s payout ratio is presently 90.79%.

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.