Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Buys 8,729 Shares

Donegal Group Inc. (NASDAQ:DGICA - Get Free Report) major shareholder Mutual Insurance Co Donegal bought 8,729 shares of Donegal Group stock in a transaction dated Wednesday, December 11th. The shares were acquired at an average price of $16.37 per share, with a total value of $142,893.73. Following the completion of the purchase, the insider now directly owns 13,134,755 shares in the company, valued at $215,015,939.35. This trade represents a 0.07 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

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

• On Monday, December 9th, Mutual Insurance Co Donegal purchased 70,000 shares of Donegal Group stock. The shares were acquired at an average cost of $16.61 per share, with a total value of $1,162,700.00.
• On Friday, December 6th, Mutual Insurance Co Donegal acquired 270,000 shares of Donegal Group stock. The stock was bought at an average price of $16.66 per share, for a total transaction of $4,498,200.00.
• On Wednesday, December 4th, Mutual Insurance Co Donegal acquired 9,522 shares of Donegal Group stock. The stock was bought at an average cost of $16.54 per share, for a total transaction of $157,493.88.
• On Monday, December 2nd, Mutual Insurance Co Donegal bought 8,354 shares of Donegal Group stock. The shares were bought at an average cost of $16.73 per share, with a total value of $139,762.42.
• On Friday, November 29th, Mutual Insurance Co Donegal purchased 8,300 shares of Donegal Group stock. The stock was bought at an average cost of $16.59 per share, for a total transaction of $137,697.00.
• On Wednesday, November 27th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The shares were purchased at an average price of $16.47 per share, with a total value of $139,995.00.
• On Monday, November 25th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The shares were purchased at an average price of $16.19 per share, for a total transaction of $137,615.00.
• On Tuesday, November 19th, Mutual Insurance Co Donegal purchased 37,748 shares of Donegal Group stock. The shares were purchased at an average cost of $15.81 per share, with a total value of $596,795.88.
• On Wednesday, November 13th, Mutual Insurance Co Donegal acquired 8,100 shares of Donegal Group stock. The stock was purchased at an average cost of $15.93 per share, for a total transaction of $129,033.00.
• On Monday, November 11th, Mutual Insurance Co Donegal purchased 8,170 shares of Donegal Group stock. The stock was acquired at an average price of $15.95 per share, for a total transaction of $130,311.50.

Donegal Group Price Performance

Shares of DGICA stock traded down $0.10 during trading on Friday, hitting $16.33. The company had a trading volume of 126,024 shares, compared to its average volume of 62,660. The firm has a market capitalization of $553.59 million, a P/E ratio of 21.49 and a beta of -0.03. Donegal Group Inc. has a one year low of $12.26 and a one year 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 stock's 50-day moving average price is $15.63 and its 200 day moving average price is $14.57.

Donegal Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were issued a dividend of $0.172 per share. This represents a $0.69 annualized dividend and a dividend yield of 4.21%. The ex-dividend date of this dividend was Friday, November 1st. Donegal Group's dividend payout ratio (DPR) is currently 90.79%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of DGICA. Barclays PLC increased its stake in Donegal Group by 38.7% in the third quarter. Barclays PLC now owns 64,952 shares of the insurance provider's stock valued at $957,000 after acquiring an additional 18,132 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Donegal Group by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 364,313 shares of the insurance provider's stock worth $5,371,000 after buying an additional 4,933 shares during the last quarter. Martingale Asset Management L P grew its position in Donegal Group by 4.2% in the third quarter. Martingale Asset Management L P now owns 22,353 shares of the insurance provider's stock valued at $329,000 after acquiring an additional 902 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Donegal Group by 39.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 60,767 shares of the insurance provider's stock worth $896,000 after acquiring an additional 17,125 shares in the last quarter. Finally, Foundry Partners LLC lifted its holdings in shares of Donegal Group by 1.0% in 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. Institutional investors and hedge funds own 27.96% of the company's stock.

Wall Street Analyst Weigh In

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

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.