Mutual Insurance Co Donegal Buys 10,000 Shares of Donegal Group Inc. (NASDAQ:DGICA) Stock

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Donegal Group Inc. (NASDAQ:DGICAGet Rating) major shareholder Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock in a transaction dated Wednesday, September 14th. The stock was bought at an average price of $14.46 per share, for a total transaction of $144,600.00. Following the completion of the purchase, the insider now owns 11,318,962 shares of the company’s stock, valued at approximately $163,672,190.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

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

  • On Monday, September 12th, Mutual Insurance Co Donegal acquired 9,574 shares of Donegal Group stock. The stock was bought at an average price of $14.66 per share, for a total transaction of $140,354.84.
  • On Thursday, September 8th, Mutual Insurance Co Donegal purchased 9,311 shares of Donegal Group stock. The stock was acquired at an average price of $14.53 per share, for a total transaction of $135,288.83.
  • On Tuesday, August 30th, Mutual Insurance Co Donegal purchased 9,619 shares of Donegal Group stock. The stock was acquired at an average price of $14.64 per share, for a total transaction of $140,822.16.
  • On Friday, August 26th, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The stock was acquired at an average price of $15.00 per share, for a total transaction of $150,000.00.
  • On Wednesday, August 24th, Mutual Insurance Co Donegal purchased 7,414 shares of Donegal Group stock. The stock was acquired at an average price of $14.91 per share, for a total transaction of $110,542.74.
  • On Monday, August 22nd, Mutual Insurance Co Donegal purchased 9,616 shares of Donegal Group stock. The stock was acquired at an average price of $15.31 per share, for a total transaction of $147,220.96.
  • On Friday, August 19th, Mutual Insurance Co Donegal purchased 9,546 shares of Donegal Group stock. The stock was acquired at an average price of $15.49 per share, for a total transaction of $147,867.54.
  • On Wednesday, August 17th, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The stock was acquired at an average price of $15.47 per share, for a total transaction of $154,700.00.
  • On Monday, August 15th, Mutual Insurance Co Donegal acquired 9,900 shares of Donegal Group stock. The shares were purchased at an average cost of $15.35 per share, for a total transaction of $151,965.00.
  • On Friday, August 12th, Mutual Insurance Co Donegal acquired 10,000 shares of Donegal Group stock. The shares were purchased at an average cost of $15.07 per share, for a total transaction of $150,700.00.

Donegal Group Stock Performance

Shares of DGICA stock opened at $14.26 on Friday. The stock’s 50-day moving average is $15.17 and its two-hundred day moving average is $14.88. The firm has a market cap of $460.94 million, a price-to-earnings ratio of 118.75 and a beta of -0.08. Donegal Group Inc. has a 1 year low of $13.09 and a 1 year high of $17.13. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.42 and a current ratio of 0.42.

Donegal Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 15th. Investors of record on Monday, August 1st were issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date was Friday, July 29th. Donegal Group’s dividend payout ratio is currently 550.00%.

Hedge Funds Weigh In On Donegal Group

A number of hedge funds and other institutional investors have recently made changes to their positions in DGICA. Foundry Partners LLC purchased a new position in shares of Donegal Group during the second quarter worth about $2,226,000. Renaissance Technologies LLC grew its holdings in shares of Donegal Group by 16.9% during the first quarter. Renaissance Technologies LLC now owns 558,611 shares of the insurance provider’s stock worth $7,491,000 after buying an additional 80,800 shares during the last quarter. Keeley Teton Advisors LLC boosted its holdings in Donegal Group by 689.4% in the 1st quarter. Keeley Teton Advisors LLC now owns 88,832 shares of the insurance provider’s stock valued at $1,191,000 after purchasing an additional 77,579 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Donegal Group by 191.9% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 117,369 shares of the insurance provider’s stock valued at $2,001,000 after purchasing an additional 77,157 shares in the last quarter. Finally, Citadel Advisors LLC boosted its holdings in Donegal Group by 92.1% in the 2nd quarter. Citadel Advisors LLC now owns 102,443 shares of the insurance provider’s stock valued at $1,747,000 after purchasing an additional 49,107 shares in the last quarter. Hedge funds and other institutional investors own 63.74% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Donegal Group from a “buy” rating to a “hold” rating in a report on Monday, August 8th.

Donegal Group Company Profile

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Donegal Group Inc, an insurance holding company, provides personal and commercial lines of 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.

Further Reading

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