Kristi Spencer Altshuler, the Senior Vice President of Donegal Group Inc. (NASDAQ:DGICA), recently executed several stock transactions involving the company's Class A Common Stock. On December 6 and December 9, Altshuler sold a total of 5,561 shares, generating approximately $91,860. The shares were sold at prices ranging from $16.50 to $16.544 per share. The transactions come as DGICA shows strong momentum, with the stock up over 28% in the past six months. According to InvestingPro analysis, the company appears slightly undervalued at current levels.
Prior to these sales, Altshuler acquired a total of 5,561 shares through option exercises at a price of $14.43 per share. These transactions reflect Altshuler's ongoing activity in managing her equity position within the company. Notably, DGICA has maintained a strong track record of shareholder returns, having raised its dividend for 24 consecutive years. InvestingPro subscribers can access 10+ additional key insights about DGICA's financial health and growth prospects through the comprehensive Pro Research Report.
In other recent news, Donegal Group has reported a net income of $16.8 million in the third quarter of 2024, despite facing pre-tax catastrophe losses of $6 million due to Hurricane Helene. The company's net premiums earned increased by 6% to $238 million, reflecting its strategic focus on small business growth, software enhancements, and geographic diversification. The combined ratio improved to 96.4%, indicating an effective management of its portfolio.
Donegal Group's commercial lines saw a growth of 6.4% in net premiums written, while personal lines grew by 5.4%. The firm has also completed strategic exits from commercial policies in Georgia and Alabama. In terms of future plans, software enhancements to improve policy management are set to be implemented in January 2025.
Investment income for Donegal Group increased by 2.8% to $10.8 million, with an average yield of 3.28%. The company's equity holdings also saw an increase of 39% compared to the end of 2023. However, the company experienced underwriting losses and dividend payouts, and the statutory combined ratio for personal lines, while improved, remained above 100%. These recent developments reflect Donegal Group's resilience amid industry challenges and its commitment to growth and efficiency.
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