Donegal Group (NASDAQ:DGICA) Sets New 1-Year High After Insider Buying Activity

Donegal Group Inc. (NASDAQ:DGICA - Get Free Report)'s stock price reached a new 52-week high during trading on Monday after an insider bought additional shares in the company. The company traded as high as $17.00 and last traded at $17.00, with a volume of 1509 shares. The stock had previously closed at $16.33.

Specifically, major shareholder Mutual Insurance Co Donegal acquired 7,817 shares of the company's stock in a transaction that occurred on Friday, December 13th. The shares were acquired at an average cost of $16.29 per share, for a total transaction of $127,338.93. Following the completion of the acquisition, the insider now directly owns 13,152,372 shares in the company, valued at approximately $214,252,139.88. The trade was a 0.06 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Mutual Insurance Co Donegal bought 8,729 shares of the stock in a transaction on Wednesday, December 11th. The shares were purchased at an average price of $16.37 per share, with a total value of $142,893.73. Following the acquisition, the insider now owns 13,134,755 shares in the company, valued at approximately $215,015,939.35. This represents a 0.07 % increase in their position. The disclosure for this purchase can be found here. In other news, major shareholder Mutual Insurance Co Donegal purchased 70,000 shares of the company's stock in a transaction on Monday, December 9th. The shares were purchased at an average price of $16.61 per share, with a total value of $1,162,700.00. Following the purchase, the insider now directly owns 13,116,126 shares of the company's stock, valued at $217,858,852.86. This trade represents a 0.54 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Analysts Set New Price Targets

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

Donegal Group Trading Up 0.3 %

The company has a market capitalization of $555.28 million, a price-to-earnings ratio of 22.37 and a beta of -0.03. The firm has a fifty day moving average price of $15.63 and a 200-day moving average price of $14.60. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.38.

Donegal Group Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.20%. Donegal Group's dividend payout ratio (DPR) is currently 90.79%.

Institutional Trading of Donegal Group

A number of hedge funds have recently added to or reduced their stakes in DGICA. Innealta Capital LLC bought a new stake in shares of Donegal Group in the 2nd quarter valued at $27,000. Martingale Asset Management L P lifted its holdings in shares of Donegal Group by 4.2% in the 3rd quarter. Martingale Asset Management L P now owns 22,353 shares of the insurance provider's stock worth $329,000 after purchasing an additional 902 shares in the last quarter. Hsbc Holdings PLC grew its position in Donegal Group by 7.8% in the 2nd quarter. Hsbc Holdings PLC now owns 31,091 shares of the insurance provider's stock valued at $389,000 after purchasing an additional 2,250 shares during the period. Squarepoint Ops LLC acquired a new position in Donegal Group during the second quarter worth $448,000. Finally, Los Angeles Capital Management LLC lifted its stake in shares of Donegal Group by 95.2% in the second 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 in the last quarter. Institutional investors and hedge funds own 27.96% of the company's stock.

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.