Donegal Group (NASDAQ:DGICB) Stock Price Up 18.2% – Here’s Why

Donegal Group, Inc. (NASDAQ:DGICB) was up 18.2% during trading on Wednesday . The company traded as high as $20.92 and last traded at $25.54. 351 shares were traded during mid-day trading, a decline of 93% from the average session volume of 4,987 shares. The stock had previously closed at $21.60.

Analyst Ratings Changes

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

Donegal Group Stock Performance

The company has a market cap of $811.39 million, a price-to-earnings ratio of 12.96 and a beta of 0.04. 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 stock has a 50-day moving average price of $21.33 and a 200 day moving average price of $18.67.

Donegal Group (NASDAQ:DGICB) last released its quarterly earnings data on Thursday, July 30th. The insurance provider reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.07. Donegal Group had a return on equity of 10.31% and a net margin of 6.77%.The business had revenue of $232.25 million for the quarter, compared to analysts’ expectations of $231.53 million.

Donegal Group Dividend Announcement

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

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Donegal Group stock. Lewis Asset Management LLC acquired a new position in shares of Donegal Group, Inc. (NASDAQ:DGICB) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,469 shares of the insurance provider’s stock, valued at approximately $203,000. 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.