Connor Clark & Lunn Investment Management Ltd. Acquires 47,447 Shares of Donegal Group Inc. (NASDAQ:DGICA)

Connor Clark & Lunn Investment Management Ltd. increased its position in Donegal Group Inc. (NASDAQ:DGICA - Free Report) by 82.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105,257 shares of the insurance provider's stock after acquiring an additional 47,447 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.31% of Donegal Group worth $1,551,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings 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 in the last quarter. Bank of New York Mellon Corp boosted 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 period. Jacobs Levy Equity Management Inc. lifted its position in Donegal Group by 30.3% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 75,833 shares of the insurance provider's stock worth $1,072,000 after buying an additional 17,614 shares in the last quarter. Los Angeles Capital Management LLC increased 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 worth $520,000 after acquiring an additional 19,707 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new position in Donegal Group in the second quarter valued at about $448,000. Hedge funds and other institutional investors own 27.96% of the company's stock.

Insider Buying and Selling at Donegal Group

In related news, major shareholder Mutual Insurance Co Donegal acquired 8,028 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was acquired at an average cost of $15.20 per share, for a total transaction of $122,025.60. Following the transaction, the insider now directly owns 12,260,719 shares in the company, valued at $186,362,928.80. This trade represents a 0.07 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Vincent Anthony Viozzi sold 30,000 shares of the firm's stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $15.24, for a total value of $457,200.00. Following the completion of the transaction, the vice president now owns 9,891 shares in the company, valued at $150,738.84. This represents a 75.20 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 268,216 shares of company stock worth $4,169,470 and have sold 124,266 shares worth $1,932,589. Corporate insiders own 6.63% of the company's stock.

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 Stock Down 0.1 %

NASDAQ:DGICA traded down $0.01 during trading hours on Wednesday, reaching $16.43. 122,174 shares of the stock were exchanged, compared to its average volume of 60,187. The stock has a market cap of $556.91 million, a PE ratio of 21.63 and a beta of -0.06. Donegal Group Inc. has a twelve month low of $12.26 and a twelve month high of $16.65. The firm has a 50 day moving average of $15.15 and a 200 day moving average of $14.29. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.38 and a quick ratio of 0.38.

Donegal Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were given a dividend of $0.172 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.69 dividend on an annualized basis and a yield of 4.19%. Donegal Group's dividend payout ratio (DPR) is 90.79%.

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.