Mutual Insurance Co Donegal Purchases 8,500 Shares of Donegal Group Inc. (NASDAQ:DGICA) Stock

Donegal Group Inc. (NASDAQ:DGICA - Get Free Report) major shareholder Mutual Insurance Co Donegal bought 8,500 shares of the company's stock in a transaction that occurred on Thursday, November 7th. The stock was bought at an average price of $15.74 per share, with a total value of $133,790.00. Following the acquisition, the insider now directly owns 12,544,998 shares in the company, valued at $197,458,268.52. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Large shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.

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

• On Monday, November 11th, Mutual Insurance Co Donegal bought 8,170 shares of Donegal Group stock. The shares were bought at an average cost of $15.95 per share, for a total transaction of $130,311.50.
• On Monday, November 4th, Mutual Insurance Co Donegal acquired 4,137 shares of Donegal Group stock. The shares were purchased at an average price 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 stock was bought at an average cost of $15.49 per share, with a total value of $2,330,191.68.
• On Friday, September 13th, Mutual Insurance Co Donegal acquired 6,005 shares of Donegal Group stock. The stock was bought at an average price of $15.34 per share, with a total value of $92,116.70.
• On Wednesday, September 11th, Mutual Insurance Co Donegal purchased 8,390 shares of Donegal Group stock. The stock was purchased at an average cost of $15.00 per share, for a total transaction of $125,850.00.
• On Monday, September 9th, Mutual Insurance Co Donegal acquired 5,865 shares of Donegal Group stock. The stock was bought at an average cost of $15.33 per share, for a total transaction of $89,910.45.
• On Thursday, September 5th, Mutual Insurance Co Donegal acquired 4,889 shares of Donegal Group stock. The shares were bought at an average cost of $15.32 per share, for a total transaction of $74,899.48.
• On Tuesday, September 3rd, Mutual Insurance Co Donegal bought 9,452 shares of Donegal Group stock. The stock was bought at an average price of $15.24 per share, with a total value of $144,048.48.
• On Friday, August 30th, Mutual Insurance Co Donegal acquired 8,028 shares of Donegal Group stock. The stock was bought at an average price of $15.20 per share, with a total value of $122,025.60.
• On Wednesday, August 28th, Mutual Insurance Co Donegal bought 6,000 shares of Donegal Group stock. The shares were acquired at an average cost of $15.02 per share, for a total transaction of $90,120.00.

Donegal Group Stock Performance

Shares of NASDAQ DGICA remained flat at $15.90 during midday trading on Tuesday. 170,710 shares of the company were exchanged, compared to its average volume of 56,653. Donegal Group Inc. has a twelve month low of $12.26 and a twelve month high of $16.00. The stock has a 50 day moving average price of $14.99 and a 200 day moving average price of $14.09. The company has a current ratio of 0.38, a quick ratio of 0.39 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $532.33 million, a P/E ratio of 20.86 and a beta of -0.06.

Donegal Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be issued a dividend of $0.172 per share. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date of this dividend is Friday, November 1st. Donegal Group's payout ratio is 90.79%.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Innealta Capital LLC acquired a new stake in Donegal Group during the second quarter worth about $27,000. EntryPoint Capital LLC purchased a new stake in Donegal Group in the 1st quarter worth approximately $137,000. BNP Paribas Financial Markets boosted its position in Donegal Group by 125.0% during the 1st quarter. BNP Paribas Financial Markets now owns 10,364 shares of the insurance provider's stock worth $147,000 after purchasing an additional 5,757 shares during the period. Hsbc Holdings PLC raised its stake in shares of 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 in the last quarter. Finally, Squarepoint Ops LLC bought a new position in shares of Donegal Group in the second quarter valued at approximately $448,000. Hedge funds and other institutional investors 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.