Donegal Group (NASDAQ:DGICB) Shares Gap Up – Time to Buy?

Donegal Group, Inc. (NASDAQ:DGICB) gapped up prior to trading on Tuesday . The stock had previously closed at $22.15, but opened at $24.49. Donegal Group shares last traded at $22.99, with a volume of 2,550 shares changing hands.

Wall Street Analyst Weigh In

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

Donegal Group Stock Performance

The company has a debt-to-equity ratio of 0.05, a current ratio of 0.39 and a quick ratio of 0.39. The company has a market capitalization of $851.78 million, a PE ratio of 13.60 and a beta of 0.04. The firm’s fifty day simple moving average is $20.88 and its 200 day simple moving average is $18.42.

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

Donegal Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be given a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 3.0%. The ex-dividend date is Friday, July 31st. Donegal Group’s dividend payout ratio (DPR) is currently 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. bought a new stake in shares of Donegal Group, Inc. (NASDAQ:DGICB) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 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.