Donegal Group (NASDAQ:DGICA) Sets New 1-Year High – Here’s What Happened

Donegal Group Inc. (NASDAQ:DGICA) hit a new 52-week high during trading on Friday . The stock traded as high as $16.66 and last traded at $16.66, with a volume of 57856 shares trading hands. The stock had previously closed at $16.43.

Analyst Ratings Changes

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

Donegal Group Stock Up 1.3 %

The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07. The firm’s 50 day moving average price is $15.25 and its two-hundred day moving average price is $14.35. The company has a market capitalization of $564.03 million, a price-to-earnings ratio of 21.89 and a beta of -0.06.

Donegal Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were paid a $0.172 dividend. The ex-dividend date was Friday, November 1st. This represents a $0.69 annualized dividend and a yield of 4.13%. Donegal Group’s dividend payout ratio is 90.79%.

Insider Transactions at Donegal Group

In other Donegal Group news, VP Vincent Anthony Viozzi sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $15.24, for a total transaction of $457,200.00. Following the completion of the sale, the vice president now directly owns 9,891 shares in the company, valued at $150,738.84. This trade represents a 75.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Mutual Insurance Co Donegal bought 8,390 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was purchased at an average cost of $15.00 per share, for a total transaction of $125,850.00. Following the transaction, the insider now directly owns 12,337,025 shares of the company’s stock, valued at $185,055,375. The trade was a 0.07 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 260,188 shares of company stock worth $4,047,445 and sold 124,266 shares worth $1,932,589. 6.63% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Donegal Group by 34.7% during the first quarter. Vanguard Group Inc. now owns 1,183,005 shares of the insurance provider’s stock worth $16,728,000 after purchasing an additional 304,477 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in Donegal Group by 82.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 105,257 shares of the insurance provider’s stock worth $1,551,000 after acquiring an additional 47,447 shares during the period. Squarepoint Ops LLC bought a new stake in shares of Donegal Group during the 2nd quarter valued at $448,000. Los Angeles Capital Management LLC lifted its position in shares of Donegal Group by 95.2% during the 2nd quarter. Los Angeles Capital Management LLC now owns 40,407 shares of the insurance provider’s stock valued at $520,000 after acquiring an additional 19,707 shares during the period. Finally, Barclays PLC grew its holdings in shares of Donegal Group by 38.7% during the 3rd quarter. Barclays PLC now owns 64,952 shares of the insurance provider’s stock worth $957,000 after purchasing an additional 18,132 shares in the last quarter. 27.96% of the stock is owned by institutional investors and hedge funds.

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.