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Donegal Mutual Insurance Co, a ten-percent owner of Donegal Group Inc (NASDAQ:DGICA), recently acquired a significant number of shares in the company. According to a recent SEC filing, Donegal Mutual purchased a total of 29,700 shares of Donegal Group’s Class A Common Stock over two days. The shares were acquired at prices ranging from $17.06 to $17.3476, amounting to a total transaction value of approximately $510,996. The stock, which has delivered a robust 31.6% return over the past year, is currently trading at $17.57, near its 52-week high of $17.52. InvestingPro analysis indicates the stock is trading close to its Fair Value.
The purchases were made on February 27 and February 28, 2025, with 14,700 shares acquired on the first day and 15,000 shares on the second. Following these transactions, Donegal Mutual’s total holdings in Donegal Group’s Class A Common Stock increased to 13,204,273 shares. Additionally, Donegal Mutual holds 4,708,570 shares of Class B Common Stock.
These transactions reflect Donegal Mutual’s continued investment in the Donegal Group, positioning it as a significant stakeholder in the company.
In other recent news, Donegal Group Inc. has introduced a new Annual Executive Incentive Plan designed to reward its executive officers based on specific performance goals for the fiscal year 2025. The plan, approved by the board of directors and the Compensation Committee, focuses on achieving targets for commercial lines premium growth and statutory combined ratio, alongside a specified operating return on equity. The Joint Compensation Committee retains the ability to issue discretionary bonuses, aligning the interests of the company and its shareholders by incentivizing financial goal realization. Additionally, 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 disagreements with the company’s operations, policies, or practices. Donegal Group has not yet announced a successor or detailed any changes to the board’s composition following his departure. These developments reflect Donegal Group’s ongoing efforts in governance and strategic planning, as noted in recent SEC filings.
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