Mutual Insurance Co Donegal Acquires 9,522 Shares of Donegal Group Inc. (NASDAQ:DGICA) Stock

Donegal Group Inc. (NASDAQ:DGICA - Get Free Report) major shareholder Mutual Insurance Co Donegal bought 9,522 shares of Donegal Group stock in a transaction dated Wednesday, December 4th. The shares were bought at an average cost of $16.54 per share, with a total value of $157,493.88. Following the completion of the acquisition, the insider now owns 12,766,126 shares of the company's stock, valued at $211,151,724.04. The trade was a 0.07 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Major shareholders that own 10% or more 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 2nd, Mutual Insurance Co Donegal purchased 8,354 shares of Donegal Group stock. The shares were acquired at an average cost of $16.73 per share, for a total transaction of $139,762.42.
• On Friday, November 29th, Mutual Insurance Co Donegal purchased 8,300 shares of Donegal Group stock. The shares were acquired 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 purchased 8,500 shares of Donegal Group stock. The shares were acquired at an average cost of $16.47 per share, for a total transaction of $139,995.00.
• On Monday, November 25th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were acquired at an average cost of $16.19 per share, for a total transaction of $137,615.00.
• On Tuesday, November 19th, Mutual Insurance Co Donegal bought 37,748 shares of Donegal Group stock. The stock was purchased at an average cost of $15.81 per share, for a total transaction of $596,795.88.
• On Wednesday, November 13th, Mutual Insurance Co Donegal bought 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 bought 8,170 shares of Donegal Group stock. The stock was purchased at an average cost of $15.95 per share, for a total transaction of $130,311.50.
• On Thursday, November 7th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was purchased 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 acquired 4,137 shares of Donegal Group stock. The shares were bought 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 acquired 150,432 shares of Donegal Group stock. The shares were bought at an average cost of $15.49 per share, for a total transaction of $2,330,191.68.

Donegal Group Price Performance

Shares of Donegal Group stock traded down $0.21 during midday trading on Friday, hitting $16.49. 103,634 shares of the company were exchanged, compared to its average volume of 120,859. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.38 and a quick ratio of 0.38. The firm has a market cap of $559.01 million, a P/E ratio of 21.70 and a beta of -0.03. Donegal Group Inc. has a 52 week low of $12.26 and a 52 week high of $17.00. The firm has a 50 day simple moving average of $15.45 and a 200-day simple moving average of $14.47.

Donegal Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were given a dividend of $0.172 per share. The ex-dividend date was Friday, November 1st. This represents a $0.69 annualized dividend and a dividend yield of 4.17%. Donegal Group's dividend payout ratio (DPR) is presently 90.79%.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Donegal Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased 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 valued at $16,728,000 after purchasing an additional 304,477 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in 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 valued at $1,551,000 after purchasing an additional 47,447 shares in the last quarter. Los Angeles Capital Management LLC increased its stake in shares of Donegal Group by 95.2% in the 2nd quarter. Los Angeles Capital Management LLC now owns 40,407 shares of the insurance provider's stock valued at $520,000 after buying an additional 19,707 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Donegal Group by 4.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 129,551 shares of the insurance provider's stock valued at $1,669,000 after buying an additional 5,416 shares during the period. Finally, Squarepoint Ops LLC acquired a new stake in shares of Donegal Group in the 2nd quarter valued at $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.