Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Buys 8,100 Shares

Donegal Group Inc. (NASDAQ:DGICA - Get Free Report) major shareholder Mutual Insurance Co Donegal bought 8,100 shares of Donegal Group stock in a transaction on Wednesday, November 13th. The shares were acquired at an average cost of $15.93 per share, for a total transaction of $129,033.00. Following the completion of the acquisition, the insider now directly owns 12,577,768 shares in the company, valued at approximately $200,363,844.24. The trade was a 0.06 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.

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

• On Monday, November 11th, Mutual Insurance Co Donegal bought 8,170 shares of Donegal Group stock. The shares were acquired at an average cost of $15.95 per share, with a total value of $130,311.50.
• On Thursday, November 7th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The shares were bought at an average cost of $15.74 per share, for a total transaction of $133,790.00.
• On Monday, November 4th, Mutual Insurance Co Donegal purchased 4,137 shares of Donegal Group stock. The stock was acquired at an average cost of $15.20 per share, for a total transaction of $62,882.40.
• On Thursday, October 31st, Mutual Insurance Co Donegal bought 150,432 shares of Donegal Group stock. The stock was purchased at an average price of $15.49 per share, with a total value of $2,330,191.68.
• On Friday, September 13th, Mutual Insurance Co Donegal acquired 6,005 shares of Donegal Group stock. The stock was acquired at an average price of $15.34 per share, with a total value of $92,116.70.
• On Wednesday, September 11th, Mutual Insurance Co Donegal bought 8,390 shares of Donegal Group stock. The stock was bought at an average price of $15.00 per share, for a total transaction of $125,850.00.
• On Monday, September 9th, Mutual Insurance Co Donegal acquired 5,865 shares of Donegal Group stock. The stock was purchased at an average price of $15.33 per share, for a total transaction of $89,910.45.
• On Thursday, September 5th, Mutual Insurance Co Donegal purchased 4,889 shares of Donegal Group stock. The shares were purchased at an average price of $15.32 per share, with a total value of $74,899.48.
• On Tuesday, September 3rd, Mutual Insurance Co Donegal acquired 9,452 shares of Donegal Group stock. The shares were 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 shares were acquired at an average price of $15.20 per share, for a total transaction of $122,025.60.

Donegal Group Stock Performance

NASDAQ:DGICA traded down $0.05 during midday trading on Thursday, hitting $15.84. The company's stock had a trading volume of 172,895 shares, compared to its average volume of 57,464. 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 Inc. has a fifty-two week low of $12.26 and a fifty-two week high of $16.00. The firm's 50 day moving average is $15.01 and its 200-day moving average is $14.12. The firm has a market cap of $530.39 million, a P/E ratio of 19.93 and a beta of -0.06.

Donegal Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be paid a dividend of $0.172 per share. The ex-dividend date is Friday, November 1st. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.34%. Donegal Group's payout ratio is 90.79%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Donegal Group from a "buy" rating to a "strong-buy" rating in a report on Friday, October 25th.

Institutional Investors Weigh In On Donegal Group

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Donegal Group by 34.7% in the 1st quarter. Vanguard Group Inc. now owns 1,183,005 shares of the insurance provider's stock worth $16,728,000 after buying an additional 304,477 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Donegal Group during the first quarter worth approximately $137,000. BNP Paribas Financial Markets raised its stake in Donegal Group by 125.0% in the 1st quarter. BNP Paribas Financial Markets now owns 10,364 shares of the insurance provider's stock valued at $147,000 after purchasing an additional 5,757 shares during the last quarter. Los Angeles Capital Management LLC grew its holdings in shares of 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 in the last quarter. Finally, Bank of New York Mellon Corp lifted 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 buying an additional 5,416 shares in the last quarter. 27.96% of the stock is owned by hedge funds and other institutional investors.

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.