Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Donegal Group Inc. (NASDAQ:DGICA - Free Report) by 124.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 235,746 shares of the insurance provider's stock after purchasing an additional 130,489 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.70% of Donegal Group worth $3,647,000 as of its most recent filing with the SEC.
Other large investors have also bought and sold shares of the company. SG Americas Securities LLC bought a new stake in Donegal Group during the 4th quarter worth approximately $128,000. Private Advisor Group LLC bought a new position in shares of Donegal Group during the 4th quarter worth approximately $177,000. Inceptionr LLC bought a new position in shares of Donegal Group during the 4th quarter worth approximately $218,000. Bleakley Financial Group LLC bought a new position in shares of Donegal Group during the 4th quarter worth approximately $244,000. Finally, Martingale Asset Management L P grew its stake in shares of Donegal Group by 4.2% during the 3rd quarter. Martingale Asset Management L P now owns 22,353 shares of the insurance provider's stock worth $329,000 after acquiring an additional 902 shares in the last quarter. 27.96% of the stock is owned by institutional investors.
Insider Activity
In related news, major shareholder Mutual Insurance Co Donegal acquired 15,000 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was bought at an average price of $17.85 per share, with a total value of $267,750.00. Following the acquisition, the insider now owns 13,219,273 shares in the company, valued at $235,964,023.05. This represents a 0.11 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP William Daniel Delamater sold 12,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $17.77, for a total value of $213,240.00. Following the completion of the sale, the executive vice president now directly owns 1,495 shares of the company's stock, valued at approximately $26,566.15. The trade was a 88.92 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 105,908 shares of company stock valued at $1,865,086 and sold 47,119 shares valued at $845,651. 6.63% of the stock is currently owned by insiders.
Donegal Group Stock Down 0.9 %
Shares of DGICA traded down $0.17 during mid-day trading on Friday, hitting $18.23. 161,203 shares of the company's stock were exchanged, compared to its average volume of 72,206. The company has a market cap of $649.70 million, a PE ratio of 11.99 and a beta of -0.04. Donegal Group Inc. has a 52 week low of $12.26 and a 52 week high of $18.90. The company has a 50-day simple moving average of $15.97 and a 200 day simple moving average of $15.60. 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 (NASDAQ:DGICA - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The insurance provider reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.39. The company had revenue of $249.70 million during the quarter, compared to analysts' expectations of $250.61 million. Donegal Group had a net margin of 5.14% and a return on equity of 9.50%. On average, research analysts forecast that Donegal Group Inc. will post 1.2 earnings per share for the current fiscal year.
About Donegal Group
(
Free Report)
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.
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