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William Albert Folmar, Sr. Vice President of Donegal Group Inc (NASDAQ:DGICA), reported notable transactions in the company’s stock. The sales occurred as DGICA trades near its 52-week high of $18.19, having delivered impressive returns of 35.92% over the past year. On March 7 and March 10, Folmar sold a total of 19,274 shares of Class A Common Stock, with prices ranging from $17.9728 to $17.9765 per share. The total value of these sales amounted to $346,456.
In addition to these sales, Folmar exercised options, acquiring 19,274 shares at a price of $14.43 per share, which reflects a transaction total of $278,123. Following these transactions, Folmar’s direct ownership stands at 950 shares in this $585.68M market cap insurer, which has maintained dividend payments for 25 consecutive years. Want deeper insights into insider trading patterns and valuation metrics? InvestingPro offers comprehensive analysis with 8 additional key insights for DGICA.
In other recent news, Donegal Group Inc. has introduced a new Annual Executive Incentive Plan, as detailed in a recent SEC filing. This plan is designed to award bonuses to executive officers based on achieving specific performance goals for the fiscal year 2025. These goals include commercial lines premium growth, a statutory combined ratio, and a particular operating return on equity. The Joint Compensation Committee retains the authority to issue discretionary bonuses based on these objectives. Additionally, Donegal Group announced that director Scott A. Berlucchi will retire and not seek re-election at the 2025 annual stockholders meeting. Berlucchi’s decision is not due to any disagreements with the company’s operations, policies, or practices. He will continue to serve on the board until the 2025 annual meeting. The company has not yet announced a successor or any changes to the board’s composition following his departure.
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