Donegal Group (NASDAQ:DGICA) Reaches New 12-Month High After Insider Buying Activity

Shares of Donegal Group Inc. (NASDAQ:DGICA - Get Free Report) reached a new 52-week high on Thursday following insider buying activity. The company traded as high as $18.23 and last traded at $18.19, with a volume of 78104 shares changing hands. The stock had previously closed at $17.71.

Specifically, major shareholder Mutual Insurance Co Donegal purchased 11,600 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average cost of $17.59 per share, for a total transaction of $204,044.00. Following the completion of the acquisition, the insider now owns 13,314,382 shares in the company, valued at $234,199,979.38. This trade represents a 0.09 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Mutual Insurance Co Donegal acquired 15,000 shares of the stock in a transaction on Monday, March 10th. The stock was bought at an average cost of $17.83 per share, for a total transaction of $267,450.00. Following the transaction, the insider now owns 13,290,682 shares of the company's stock, valued at approximately $236,972,860.06. This trade represents a 0.11 % increase in their position. The disclosure for this purchase can be found here. In other Donegal Group news, major shareholder Mutual Insurance Co Donegal purchased 14,608 shares of the company's stock in a transaction that occurred on Friday, March 7th. The shares were bought at an average cost of $17.96 per share, for a total transaction of $262,359.68. Following the purchase, the insider now owns 13,275,682 shares of the company's stock, valued at $238,431,248.72. This represents a 0.11 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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Donegal Group Stock Up 0.4 %

The company's 50 day simple moving average is $15.67 and its 200-day simple moving average is $15.50. 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 firm has a market capitalization of $616.91 million, a PE ratio of 11.97 and a beta of -0.04.

Donegal Group (NASDAQ:DGICA - Get Free Report) last released its earnings results on Thursday, February 20th. The insurance provider reported $0.69 EPS for the quarter, beating the consensus estimate of $0.30 by $0.39. The company had revenue of $249.70 million for the quarter, compared to analyst estimates of $250.61 million. Donegal Group had a net margin of 5.14% and a return on equity of 9.50%. On average, analysts forecast that Donegal Group Inc. will post 1.2 EPS for the current fiscal year.

Donegal Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Tuesday, February 4th were given a dividend of $0.1725 per share. This is a boost from Donegal Group's previous quarterly dividend of $0.17. This represents a $0.69 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date of this dividend was Tuesday, February 4th. Donegal Group's dividend payout ratio (DPR) is 45.39%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. KLP Kapitalforvaltning AS bought a new position in shares of Donegal Group in the fourth quarter worth approximately $68,000. SG Americas Securities LLC bought a new position in shares of Donegal Group in the fourth quarter worth about $128,000. BNP Paribas Financial Markets grew its holdings in shares of Donegal Group by 117.2% in the fourth quarter. BNP Paribas Financial Markets now owns 8,420 shares of the insurance provider's stock worth $130,000 after purchasing an additional 4,544 shares during the last quarter. XTX Topco Ltd bought a new position in Donegal Group during the 4th quarter worth about $162,000. Finally, Private Advisor Group LLC bought a new position in Donegal Group during the 4th quarter worth about $177,000. 27.96% of the stock is owned by hedge funds and other institutional investors.

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.