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Donegal Mutual Insurance coverage Co, a significant stakeholder in Donegal Group Inc (NASDAQ:DGICA), has elevated its holdings within the firm. The $553 million market cap insurance coverage supplier, which has maintained dividend funds for twenty-four consecutive years, noticed its inventory surge almost 31% over the previous six months. Based on a latest SEC submitting, the corporate bought a complete of 18,529 shares of Class A Frequent Inventory over two consecutive days. The transactions, executed on December 11 and December 12, 2024, have been accomplished at costs starting from $16.3699 to $16.424 per share, amounting to a complete funding of $303,848.
Following these acquisitions, Donegal Mutual Insurance coverage Co now holds 13,144,555 shares of Class A Frequent Inventory. Moreover, the corporate maintains a holding of 4,708,570 shares of Class B Frequent Inventory, as per the submitting.
In different latest information, Donegal Group reported a internet earnings of $16.8 million, or $0.51 per Class A share, in its third quarter 2024 earnings name, regardless of going through $6 million in pre-tax disaster losses as a result of Hurricane Helene. The corporate’s internet premiums earned rose by 6% to $238 million, demonstrating resilience within the face of business challenges.
Moreover, Donegal Group introduced the retirement of director Scott A. Berlucchi, who won’t search re-election on the 2025 annual stockholders assembly. The corporate has but to announce a successor or present particulars relating to potential adjustments to the board’s composition following Berlucchi’s departure.
When it comes to strategic developments, Donegal Group accomplished strategic exits from industrial insurance policies in Georgia and Alabama, with plans for software program enhancements to enhance coverage administration set for January 2025. Analysts famous that the corporate is aligning methods for development throughout areas with a cohesive marketing strategy for 2025, specializing in disciplined expense discount.
These latest developments replicate Donegal Group’s strategic concentrate on development and effectivity, regardless of going through business challenges and extreme climate impacts.
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