DONEGAL GROUP INC

Ticker: DGICA CUSIP: 257701201 Class: Common Stock

MORGAN STANLEY's Holding History (CIK: 0000895421)

Note: Option positions (PUT/CALL) are excluded.

Q4 2025

Shares 224,929 Value ($000) $4,494 Avg Close $19.38 Range $17.73 - $20.86

Q3 2025

Shares 231,193 Value ($000) $4,483 Avg Close $17.86 Range $16.19 - $19.41

Q2 2025

Shares 296,329 Value ($000) $5,934 Avg Close $18.75 Range $16.94 - $20.49

Q1 2025

Shares 273,468 Value ($000) $5,368 Avg Close $15.56 Range $13.46 - $19.02

Q4 2024

Shares 290,618 Value ($000) $4,496 Avg Close $14.71 Range $13.26 - $16.15

Q3 2024

Shares 272,381 Value ($000) $4,015 Avg Close $13.47 Range $11.53 - $14.51

Q2 2024

Shares 174,524 Value ($000) $2,248 Avg Close $12.25 Range $11.38 - $13.08

Q1 2024

Shares 185,821 Value ($000) $2,628 Avg Close $12.94 Range $12.00 - $13.86

Q4 2023

Shares 133,513 Value ($000) $1,868 Avg Close $12.87 Range $12.37 - $13.49

Q3 2023

Shares 100,861 Value ($000) $1,438 Avg Close $13.07 Range $12.41 - $13.65

Q2 2023

Shares 97,352 Value ($000) $1,405 Avg Close $13.04 Range $12.31 - $13.95

Q1 2023

Shares 71,991 Value ($000) $1,100 Avg Close $13.12 Range $12.25 - $13.60

Q4 2022

Shares 67,390 Value ($000) $957 Avg Close $12.53 Range $11.16 - $13.52

Q3 2022

Shares 86,481 Value ($000) $1,166 Avg Close $12.86 Range $11.52 - $14.49

Q2 2022

Shares 66,843 Value ($000) $1,140 Avg Close $12.64 Range $11.01 - $14.42

Q1 2022

Shares 30,751 Value ($000) $411 Avg Close $11.64 Range $10.94 - $12.55

Q4 2021

Shares 33,527 Value ($000) $479 Avg Close $11.81 Range $11.17 - $12.34

Q3 2021

Shares 25,074 Value ($000) $364 Avg Close $12.25 Range $11.38 - $12.90

Q2 2021

Shares 33,165 Value ($000) $484 Avg Close $12.33 Range $11.70 - $13.19

Q1 2021

Shares 5,550 Value ($000) $82 Avg Close $11.42 Range $10.69 - $12.41

Q4 2020

Shares 13,618 Value ($000) $192 Avg Close $11.35 Range $10.86 - $11.94

Q3 2020

Shares 1,892 Value ($000) $26 Avg Close $11.13 Range $10.07 - $11.91

Q2 2020

Shares 5,517 Value ($000) $79 Avg Close $11.03 Range $9.60 - $12.44

Q1 2020

Shares 5,235 Value ($000) $79 Avg Close $10.83 Range $8.62 - $11.68

Q4 2019

Shares 21,160 Value ($000) $314 Avg Close $11.08 Range $10.64 - $11.58

Q3 2019

Shares 9,632 Value ($000) $141 Avg Close $10.91 Range $10.33 - $11.48

Q2 2019

Shares 3,633 Value ($000) $56 Avg Close $10.42 Range $9.16 - $11.50

Q1 2019

Shares 8,030 Value ($000) $108 Avg Close $9.90 Range $9.45 - $10.37

Q4 2018

Shares 25,524 Value ($000) $348 Avg Close $10.05 Range $9.29 - $10.62

Q3 2018

Shares 24,104 Value ($000) $342 Avg Close $10.23 Range $9.60 - $10.88

Q2 2018

Shares 30,421 Value ($000) $414 Avg Close $10.17 Range $9.39 - $11.63

Q1 2018

Shares 60,831 Value ($000) $961 Avg Close $11.58 Range $10.37 - $12.62

Q4 2017

Shares 62,347 Value ($000) $1,078 Avg Close $11.93 Range $11.02 - $12.80

Q3 2017

Shares 67,914 Value ($000) $1,095 Avg Close $10.66 Range $9.99 - $11.60

Q2 2017

Shares 83,884 Value ($000) $1,334 Avg Close $11.21 Range $10.58 - $12.10

Q1 2017

Shares 83,831 Value ($000) $1,477 Avg Close $11.54 Range $11.10 - $12.43

Q4 2016

Shares 98,407 Value ($000) $1,719 Avg Close $10.94 Range $9.81 - $12.56

Q3 2016

Shares 29,505 Value ($000) $475 Avg Close $10.90 Range $10.39 - $11.22

Q2 2016

Shares 38,262 Value ($000) $631 Avg Close $10.24 Range $8.78 - $10.98

Q1 2016

Shares 77 Value ($000) $1 Avg Close $9.37 Range $8.29 - $9.90

Q4 2015

Shares 20,623 Value ($000) $290 Avg Close $9.12 Range $8.52 - $9.71

Q3 2015

Shares 48,558 Value ($000) $683 Avg Close $9.32 Range $8.70 - $9.93

Q2 2015

Shares 20,637 Value ($000) $314 Avg Close $9.68 Range $9.16 - $10.16

Q1 2015

Shares 3,377 Value ($000) $53 Avg Close $9.95 Range $9.24 - $10.38

Q4 2014

Shares 3,382 Value ($000) $54 Avg Close $9.85 Range $9.43 - $10.15

Q3 2014

Shares 3,392 Value ($000) $52 Avg Close $9.62 Range $9.30 - $10.12

Q2 2014

Shares 3,786 Value ($000) $58 Avg Close $9.16 Range $8.71 - $9.85

Q1 2014

Shares 6,706 Value ($000) $97 Avg Close $9.06 Range $8.43 - $9.72

Q4 2013

Shares 27,555 Value ($000) $438 Avg Close $9.61 Range $8.55 - $10.20

Q3 2013

Shares 37,508 Value ($000) $525 Avg Close $8.43 Range $8.06 - $8.92

Q2 2013

Shares 38,292 Value ($000) $535 Avg Close $8.77 Range $8.32 - $9.25

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	224,929	$4,494	$19.38	$17.73 - $20.86
Q3 2025	231,193	$4,483	$17.86	$16.19 - $19.41
Q2 2025	296,329	$5,934	$18.75	$16.94 - $20.49
Q1 2025	273,468	$5,368	$15.56	$13.46 - $19.02
Q4 2024	290,618	$4,496	$14.71	$13.26 - $16.15
Q3 2024	272,381	$4,015	$13.47	$11.53 - $14.51
Q2 2024	174,524	$2,248	$12.25	$11.38 - $13.08
Q1 2024	185,821	$2,628	$12.94	$12.00 - $13.86
Q4 2023	133,513	$1,868	$12.87	$12.37 - $13.49
Q3 2023	100,861	$1,438	$13.07	$12.41 - $13.65
Q2 2023	97,352	$1,405	$13.04	$12.31 - $13.95
Q1 2023	71,991	$1,100	$13.12	$12.25 - $13.60
Q4 2022	67,390	$957	$12.53	$11.16 - $13.52
Q3 2022	86,481	$1,166	$12.86	$11.52 - $14.49
Q2 2022	66,843	$1,140	$12.64	$11.01 - $14.42
Q1 2022	30,751	$411	$11.64	$10.94 - $12.55
Q4 2021	33,527	$479	$11.81	$11.17 - $12.34
Q3 2021	25,074	$364	$12.25	$11.38 - $12.90
Q2 2021	33,165	$484	$12.33	$11.70 - $13.19
Q1 2021	5,550	$82	$11.42	$10.69 - $12.41
Q4 2020	13,618	$192	$11.35	$10.86 - $11.94
Q3 2020	1,892	$26	$11.13	$10.07 - $11.91
Q2 2020	5,517	$79	$11.03	$9.60 - $12.44
Q1 2020	5,235	$79	$10.83	$8.62 - $11.68
Q4 2019	21,160	$314	$11.08	$10.64 - $11.58
Q3 2019	9,632	$141	$10.91	$10.33 - $11.48
Q2 2019	3,633	$56	$10.42	$9.16 - $11.50
Q1 2019	8,030	$108	$9.90	$9.45 - $10.37
Q4 2018	25,524	$348	$10.05	$9.29 - $10.62
Q3 2018	24,104	$342	$10.23	$9.60 - $10.88
Q2 2018	30,421	$414	$10.17	$9.39 - $11.63
Q1 2018	60,831	$961	$11.58	$10.37 - $12.62
Q4 2017	62,347	$1,078	$11.93	$11.02 - $12.80
Q3 2017	67,914	$1,095	$10.66	$9.99 - $11.60
Q2 2017	83,884	$1,334	$11.21	$10.58 - $12.10
Q1 2017	83,831	$1,477	$11.54	$11.10 - $12.43
Q4 2016	98,407	$1,719	$10.94	$9.81 - $12.56
Q3 2016	29,505	$475	$10.90	$10.39 - $11.22
Q2 2016	38,262	$631	$10.24	$8.78 - $10.98
Q1 2016	77	$1	$9.37	$8.29 - $9.90
Q4 2015	20,623	$290	$9.12	$8.52 - $9.71
Q3 2015	48,558	$683	$9.32	$8.70 - $9.93
Q2 2015	20,637	$314	$9.68	$9.16 - $10.16
Q1 2015	3,377	$53	$9.95	$9.24 - $10.38
Q4 2014	3,382	$54	$9.85	$9.43 - $10.15
Q3 2014	3,392	$52	$9.62	$9.30 - $10.12
Q2 2014	3,786	$58	$9.16	$8.71 - $9.85
Q1 2014	6,706	$97	$9.06	$8.43 - $9.72
Q4 2013	27,555	$438	$9.61	$8.55 - $10.20
Q3 2013	37,508	$525	$8.43	$8.06 - $8.92
Q2 2013	38,292	$535	$8.77	$8.32 - $9.25