Donegal Group (NASDAQ:DGICB) Stock Passes Above 50 Day Moving Average – What’s Next?

Shares of Donegal Group, Inc. (NASDAQ:DGICB) passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $18.10 and traded as high as $18.71. Donegal Group shares last traded at $18.29, with a volume of 1,913 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Donegal Group in a research note on Friday, March 27th. One analyst has rated the stock with a Hold rating, According to MarketBeat, Donegal Group currently has an average rating of “Hold”.

Donegal Group Price Performance

The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.05. The firm has a fifty day moving average price of $18.10 and a two-hundred day moving average price of $17.00. The stock has a market capitalization of $677.64 million, a P/E ratio of 10.82 and a beta of 0.06.

Donegal Group (NASDAQ:DGICB) last issued its quarterly earnings results on Thursday, April 30th. The insurance provider reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.15). Donegal Group had a net margin of 6.77% and a return on equity of 10.31%. The company had revenue of $236.00 million for the quarter, compared to the consensus estimate of $247.83 million.

Donegal Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were given a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 3.8%. This is a boost from Donegal Group’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Friday, May 1st. Donegal Group’s payout ratio is 41.42%.

Institutional Investors Weigh In On Donegal Group

An institutional investor recently bought a new position in Donegal Group stock. Raymond James Financial Inc. acquired a new stake in shares of Donegal Group, Inc. (NASDAQ:DGICB) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 5,231 shares of the insurance provider’s stock, valued at approximately $93,000. Hedge funds and other institutional investors own 1.19% of the company’s stock.

Donegal Group Company Profile

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.