Donegal Group (NASDAQ:DGICB) Posts Earnings Results, Beats Expectations By $0.07 EPS

Donegal Group (NASDAQ:DGICB) released its quarterly earnings data on Thursday. The insurance provider reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.07, Zacks reports. Donegal Group had a net margin of 6.77% and a return on equity of 10.31%.

Donegal Group Stock Performance

DGICB traded up $0.05 during trading hours on Thursday, reaching $21.90. The company’s stock had a trading volume of 222 shares, compared to its average volume of 4,902. Donegal Group has a 52 week low of $13.84 and a 52 week high of $29.99. The company’s 50-day moving average is $21.27 and its 200-day moving average is $18.64. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.39 and a current ratio of 0.39. The firm has a market cap of $811.39 million, a PE ratio of 12.96 and a beta of 0.04.

Donegal Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be issued a dividend of $0.175 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a $0.70 dividend on an annualized basis and a dividend yield of 3.2%. Donegal Group’s payout ratio is presently 41.42%.

Hedge Funds Weigh In On Donegal Group

An institutional investor recently bought a new stake in Donegal Group stock. Raymond James Financial Inc. acquired a new stake in Donegal Group, Inc. (NASDAQ:DGICB) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 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.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Donegal Group in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.

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.