Donegal Group (NASDAQ:DGICB) Shares Climb 7% – What’s Next?

Donegal Group, Inc. (NASDAQ:DGICB)’s share price was up 7% on Thursday. The stock traded as high as $17.19 and last traded at $16.62. Approximately 2,340 shares changed hands during mid-day trading, a decline of 51% from the average session volume of 4,761 shares. The stock had previously closed at $15.53.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Donegal Group in a research report on Monday, September 21st. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Donegal Group Price Performance

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 company has a market capitalization of $624.80 million, a PE ratio of 9.50 and a beta of 0.04. The company’s 50-day simple moving average is $22.52 and its 200-day simple moving average is $20.62.

Donegal Group (NASDAQ:DGICB) last announced its earnings results on Thursday, July 30th. The insurance provider reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.07. Donegal Group had a net margin of 7.38% and a return on equity of 10.65%. The business had revenue of $232.25 million during the quarter, compared to analysts’ expectations of $231.53 million.

Donegal Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were given a $0.1750 dividend. This represents a $0.70 annualized dividend and a yield of 4.2%. The ex-dividend date was Friday, July 31st. Donegal Group’s payout ratio is 39.33%.

Institutional Trading of Donegal Group

A hedge fund recently bought a new position in Donegal Group stock. Lewis Asset Management LLC bought a new stake in Donegal Group, Inc. (NASDAQ:DGICB) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 11,469 shares of the insurance provider’s stock, valued at approximately $203,000. 1.19% of the stock is owned by hedge funds and other institutional investors.

About Donegal Group

Donegal Group Inc is an insurance holding company that provides property and casualty insurance through a network of regional insurance subsidiaries. The company distributes its products primarily through independent insurance agents and serves individuals, families, farms, and businesses.

Its offerings include personal automobile, homeowners, dwelling fire, farmowners, and other personal insurance products, as well as commercial automobile, commercial property, businessowners, workers’ compensation, and other commercial coverage.