Donegal Group (NASDAQ:DGICB) Releases Earnings Results, Misses Expectations By $0.15 EPS

Donegal Group (NASDAQ:DGICB) released its earnings results on Thursday. The insurance provider reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.15), Zacks reports. Donegal Group had a return on equity of 12.81% and a net margin of 8.11%.

Donegal Group Trading Down 2.5%

NASDAQ DGICB traded down $0.50 during trading hours on Thursday, reaching $19.25. The company had a trading volume of 538 shares, compared to its average volume of 1,256. The stock has a 50-day moving average of $17.17 and a 200 day moving average of $16.61. Donegal Group has a 1-year low of $13.84 and a 1-year high of $20.46. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $712.25 million, a P/E ratio of 9.39 and a beta of 0.04.

Donegal Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 1st will be given a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, May 1st. This is a positive change from Donegal Group’s previous quarterly dividend of $0.17. Donegal Group’s dividend payout ratio is presently 32.20%.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Donegal Group in a research report on Friday, March 27th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Donegal Group presently has an average rating of “Hold”.

Institutional Investors Weigh In On Donegal Group

An institutional investor recently bought a new position in Donegal Group stock. Raymond James Financial Inc. purchased a new position in shares of Donegal Group, Inc. (NASDAQ:DGICB) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,231 shares of the insurance provider’s stock, valued at approximately $93,000. Institutional investors and hedge funds own 1.19% of the company’s stock.

About Donegal Group

Donegal Group Inc, an insurance holding company, provides personal and commercial lines of property and casualty insurance to businesses and individuals in the Mid-Atlantic, Midwestern, New England, and southern states. It operates through four segments: Investment Function, Personal Lines of Insurance, and Commercial Lines of Insurance. The company offers private passenger automobile policies that provide protection against liability for bodily injury and property damage arising from automobile accidents, as well as protection against loss from damage to automobiles.