Insider Buying: Donegal Group Inc. (NASDAQ:DGICA) Major Shareholder Purchases 4,137 Shares of Stock

Donegal Group Inc. (NASDAQ:DGICA - Get Free Report) major shareholder Mutual Insurance Co Donegal purchased 4,137 shares of Donegal Group stock in a transaction dated Monday, November 4th. The shares were purchased at an average price of $15.20 per share, for a total transaction of $62,882.40. Following the completion of the acquisition, the insider now owns 12,514,232 shares of the company's stock, valued at approximately $190,216,326.40. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 10% 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 Thursday, October 31st, Mutual Insurance Co Donegal acquired 150,432 shares of Donegal Group stock. The stock was acquired at an average cost of $15.49 per share, for a total transaction of $2,330,191.68.
• On Friday, September 13th, Mutual Insurance Co Donegal bought 6,005 shares of Donegal Group stock. The shares were bought at an average cost of $15.34 per share, for a total transaction of $92,116.70.
• On Wednesday, September 11th, Mutual Insurance Co Donegal bought 8,390 shares of Donegal Group stock. The shares were purchased at an average cost of $15.00 per share, with a total value of $125,850.00.
• On Monday, September 9th, Mutual Insurance Co Donegal acquired 5,865 shares of Donegal Group stock. The stock was acquired at an average cost of $15.33 per share, with a total value of $89,910.45.
• On Thursday, September 5th, Mutual Insurance Co Donegal acquired 4,889 shares of Donegal Group stock. The stock was bought at an average price of $15.32 per share, with a total value of $74,899.48.
• On Tuesday, September 3rd, Mutual Insurance Co Donegal purchased 9,452 shares of Donegal Group stock. The stock was bought at an average cost 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 shares were bought at an average cost of $15.20 per share, for a total transaction of $122,025.60.
• On Wednesday, August 28th, Mutual Insurance Co Donegal bought 6,000 shares of Donegal Group stock. The stock was purchased at an average cost of $15.02 per share, with a total value of $90,120.00.
• On Monday, August 26th, Mutual Insurance Co Donegal bought 9,996 shares of Donegal Group stock. The shares were purchased at an average cost of $14.97 per share, for a total transaction of $149,640.12.
• On Friday, August 23rd, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The stock was acquired at an average cost of $14.93 per share, with a total value of $149,300.00.

Donegal Group Price Performance

Shares of DGICA traded up $0.38 during midday trading on Tuesday, reaching $15.50. The stock had a trading volume of 46,971 shares, compared to its average volume of 55,045. The company's 50-day moving average is $14.94 and its 200 day moving average is $14.04. The company has a market capitalization of $518.94 million, a price-to-earnings ratio of 20.40 and a beta of -0.06. Donegal Group Inc. has a 12-month low of $12.26 and a 12-month high of $15.84. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.07.

Donegal Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be paid a $0.172 dividend. This represents a $0.69 annualized dividend and a dividend yield of 4.44%. The ex-dividend date is Friday, November 1st. Donegal Group's payout ratio is 90.79%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Innealta Capital LLC bought a new position in shares of Donegal Group in the 2nd quarter worth approximately $27,000. EntryPoint Capital LLC purchased a new position in Donegal Group during the first quarter valued at $137,000. BNP Paribas Financial Markets boosted its holdings in shares of Donegal Group by 125.0% during the 1st quarter. BNP Paribas Financial Markets now owns 10,364 shares of the insurance provider's stock valued at $147,000 after buying an additional 5,757 shares in the last quarter. Hsbc Holdings PLC grew its position 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 worth $389,000 after buying an additional 2,250 shares during the period. Finally, Squarepoint Ops LLC bought a new position in shares of Donegal Group in the 2nd quarter worth about $448,000. Institutional investors own 27.96% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.