Donegal group sr. vp sells shares value $3,300

Kristi Spencer Altshuler, Senior Vice President at Donegal Group Inc. (NASDAQ:DGICA), just lately bought 200 shares of the corporate’s Class A Frequent Inventory. The shares had been bought at a value of $16.50 per share, totaling $3,300. The transaction comes as DGICA, a $553 million market cap insurer, trades close to its 52-week excessive of $17, having gained roughly 31% over the previous six months. In line with InvestingPro evaluation, the inventory is presently buying and selling barely under its Truthful Worth. This transaction, dated December 11, 2024, leaves Altshuler with no remaining shares of this class in direct possession.

Moreover, Altshuler acquired 200 shares by way of a separate transaction at a value of $14.43 per share, which was associated to the train of inventory choices. Following these transactions, Altshuler’s complete direct possession stands at 15,239 shares.

In different latest information, Donegal Group reported key developments in its latest monetary efficiency and board composition. The corporate disclosed a web 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 web premiums earned rose by 6% to $238 million, with a big enchancment within the mixed ratio to 96.4%.

Donegal Group additionally introduced the upcoming retirement of director Scott A. Berlucchi, who won’t search re-election on the 2025 annual stockholders assembly. The corporate has not but introduced a successor or detailed potential modifications to the board’s composition following Berlucchi’s departure.

When it comes to strategic initiatives, Donegal Group accomplished exits from business insurance policies in Georgia and Alabama, with software program enhancements deliberate for January 2025. These developments are a part of the corporate’s cohesive marketing strategy for 2025, which features a give attention to disciplined expense discount, aiming to enhance the expense ratio by two factors by the top of 2025. Regardless of challenges reminiscent of a 7.3% decline in private traces as a result of focused non-renewals, Donegal Group continues to navigate by way of business challenges with a strategic give attention to progress and effectivity.

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