Bank of Nova Scotia Purchases Shares of 16,022 Donegal Group Inc. (NASDAQ:DGICA)

Bank of Nova Scotia acquired a new position in Donegal Group Inc. (NASDAQ:DGICAGet Rating) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 16,022 shares of the insurance provider’s stock, valued at approximately $273,000.

Other large investors have also recently modified their holdings of the company. Great West Life Assurance Co. Can increased its holdings in Donegal Group by 58.1% during the 1st quarter. Great West Life Assurance Co. Can now owns 1,924 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 707 shares during the period. Engineers Gate Manager LP boosted its position in Donegal Group by 18.0% during the 1st quarter. Engineers Gate Manager LP now owns 14,231 shares of the insurance provider’s stock valued at $191,000 after acquiring an additional 2,175 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Donegal Group by 6.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 39,204 shares of the insurance provider’s stock worth $526,000 after purchasing an additional 2,213 shares in the last quarter. Swiss National Bank boosted its position in shares of Donegal Group by 10.2% in the 1st quarter. Swiss National Bank now owns 33,500 shares of the insurance provider’s stock worth $449,000 after purchasing an additional 3,100 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Donegal Group by 1.6% in the 1st quarter. Bank of New York Mellon Corp now owns 194,981 shares of the insurance provider’s stock worth $2,615,000 after purchasing an additional 3,118 shares in the last quarter. Hedge funds and other institutional investors own 63.74% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. TheStreet cut Donegal Group from a “b” rating to a “c+” rating in a research report on Tuesday, September 20th. StockNews.com lowered shares of Donegal Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 5th.

Insider Transactions at Donegal Group

In other news, Director Jack Lee Hess bought 3,000 shares of the stock in a transaction on Tuesday, September 13th. The stock was bought at an average cost of $14.43 per share, for a total transaction of $43,290.00. Following the completion of the purchase, the director now directly owns 78,083 shares in the company, valued at $1,126,737.69. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Donegal Group news, Director Jack Lee Hess bought 3,000 shares of Donegal Group stock in a transaction that occurred on Tuesday, September 13th. The stock was purchased at an average price of $14.43 per share, with a total value of $43,290.00. Following the completion of the acquisition, the director now directly owns 78,083 shares in the company, valued at approximately $1,126,737.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Mutual Insurance Co Donegal acquired 5,051 shares of the business’s stock in a transaction on Wednesday, November 16th. The stock was purchased at an average cost of $15.37 per share, with a total value of $77,633.87. Following the acquisition, the insider now directly owns 11,439,236 shares of the company’s stock, valued at approximately $175,821,057.32. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 143,908 shares of company stock valued at $2,166,736 and have sold 96,824 shares valued at $1,492,364. Corporate insiders own 10.03% of the company’s stock.

Donegal Group Trading Down 0.3 %

Shares of Donegal Group stock opened at $15.24 on Monday. The company has a market capitalization of $494.81 million and a P/E ratio of 1,525.53. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.42 and a current ratio of 0.42. The company has a fifty day moving average of $14.41 and a 200 day moving average of $15.19. Donegal Group Inc. has a fifty-two week low of $13.05 and a fifty-two week high of $17.13.

Donegal Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 15th. Investors of record on Tuesday, November 1st were given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date was Monday, October 31st. Donegal Group’s dividend payout ratio (DPR) is currently 6,606.61%.

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.

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Institutional Ownership by Quarter for Donegal Group (NASDAQ:DGICA)

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