Donegal Group (NASDAQ:DGICB) Shares Gap Up – Should You Buy?

Shares of Donegal Group, Inc. (NASDAQ:DGICB) gapped up before the market opened on Monday . The stock had previously closed at $18.81, but opened at $21.87. Donegal Group shares last traded at $20.4850, with a volume of 379 shares trading hands.

Analysts Set New Price Targets

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, Based on data from MarketBeat, Donegal Group has an average rating of “Hold”.

Donegal Group Stock Up 1.2%

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 market capitalization of $857.34 million, a PE ratio of 13.69 and a beta of 0.06. The business’s 50-day moving average price is $18.95 and its 200-day moving average price is $17.40.

Donegal Group (NASDAQ:DGICB) last announced its quarterly earnings data on Thursday, April 30th. The insurance provider reported $0.30 EPS for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $247.83 million.

Donegal Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were paid a dividend of $0.175 per share. This is an increase from Donegal Group’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Friday, May 1st. This represents a $0.70 dividend on an annualized basis and a dividend yield of 3.0%. Donegal Group’s dividend payout ratio (DPR) is 41.42%.

Hedge Funds Weigh In On Donegal Group

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

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.