Donegal Group Inc sees $368,890 in stock purchases by major shareholder

Donegal Group Inc (NASDAQ:DGICA), a $565 million market cap insurance company, recently reported significant stock acquisitions by its major shareholder, Donegal Mutual Insurance Co. According to the latest SEC filings, Donegal Mutual Insurance Co acquired a total of 22,201 shares of Class A Common Stock over two days. The purchases occurred on February 25 and 26, at prices ranging from $16.4932 to $16.7603 per share, amounting to a total value of $368,890. The stock, which currently trades at $16.99, is approaching its 52-week high of $17 after gaining over 9% in the past week. InvestingPro analysis indicates the stock is fairly valued based on its proprietary Fair Value model.

Following these transactions, Donegal Mutual Insurance Co now holds 13,174,573 shares of Class A Common Stock. The transactions reflect the company’s continued investment in Donegal Group Inc, where Donegal Mutual Insurance Co is a ten percent owner. Additionally, Donegal Mutual Insurance Co maintains its holdings of 4,708,570 shares of Class B Common Stock. The company has demonstrated strong shareholder commitment with 24 consecutive years of dividend increases. Discover more insights about DGICA’s financial health and performance metrics with InvestingPro, which offers 10+ additional investment tips for this stock.

In other recent news, Donegal Group Inc. has introduced a new Annual Executive Incentive Plan, approved by its board of directors and the Compensation Committee. This plan is designed to provide bonuses to executive officers based on achieving specific performance goals for the fiscal year 2025, focusing on commercial lines premium growth, statutory combined ratio, and operating return on equity. The Joint Compensation Committee retains the authority to issue discretionary bonuses, ensuring alignment with the company’s financial targets. In another development, Donegal Group announced the upcoming retirement of director Scott A. Berlucchi, who will not seek re-election at the 2025 annual stockholders meeting. Berlucchi’s decision to retire was not due to any disagreements with the company’s operations or policies. The company has yet to announce a successor or any changes to the board’s composition following his departure. These changes are part of Donegal Group’s regular governance and planning processes, and the company continues to comply with SEC reporting obligations.

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