DGICA Trading Below Director's Recent Buy Price

By Dividend Channel Staff, Thursday, August 19, 11:50 AM ET

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There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on August 11, Donegal Group Inc.'s Director, Barry C. Huber, invested $91,674.00 into 6,000 shares of DGICA, for a cost per share of $15.28. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money.

In trading on Thursday, bargain hunters could buy shares of Donegal Group Inc. (NASDAQ:DGICA) and achieve a cost basis 1.1% cheaper than Huber, with shares changing hands as low as $15.11 per share. Donegal Group Inc. shares are currently trading down about 1.6% on the day. The chart below shows the one year performance of DGICA shares, versus its 200 day moving average:

Donegal Group Inc. Chart

Looking at the chart above, DGICA's low point in its 52 week range is $13.27 per share, with $16.48 as the 52 week high point — that compares with a last trade of $15.19. By comparison, below is a table showing the prices at which DGICA insider buying was recorded over the last six months:

Purchased	Insider	Title	Shares	Price/Share	Value
03/11/2021	Mutual Insurance CO Donegal		75,000	$14.85	$1,113,750.00
06/11/2021	Mutual Insurance CO Donegal		200,000	$15.22	$3,044,000.00
08/11/2021	Barry C. Huber	Director	6,000	$15.28	$91,674.00

The current annualized dividend paid by Donegal Group Inc. is $0.64/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 07/30/2021. Below is a long-term dividend history chart for DGICA, which can be of good help in judging whether the most recent dividend with approx. 4.2% annualized yield is likely to continue.

Free Report: Top 7%+ Dividends (paid monthly)

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DGICA Trading Below Director's Recent Buy Price

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