Donegal Group (NASDAQ:DGICB) Shares Gap Up – Still a Buy?

Donegal Group, Inc. (NASDAQ:DGICB)’s share price gapped up prior to trading on Monday . The stock had previously closed at $18.00, but opened at $19.16. Donegal Group shares last traded at $19.02, with a volume of 102 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Donegal Group in a research note on Friday, March 27th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Donegal Group has an average rating of “Hold”.

Donegal Group Trading Down 5.0%

The business has a 50 day moving average of $17.34 and a two-hundred day moving average of $16.69. 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 capitalization of $693.01 million, a price-to-earnings ratio of 11.08 and a beta of 0.06.

Donegal Group (NASDAQ:DGICB) last announced its quarterly earnings results on Thursday, April 30th. The insurance provider reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.15). The business had revenue of $236.00 million for the quarter, compared to the consensus estimate of $247.83 million. Donegal Group had a net margin of 6.77% and a return on equity of 10.41%.

Donegal Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 1st will be paid a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Friday, May 1st. This is an increase from Donegal Group’s previous quarterly dividend of $0.17. Donegal Group’s dividend payout ratio (DPR) is 41.42%.

Institutional Trading of Donegal Group

An institutional investor recently bought a new position in Donegal Group stock. Raymond James Financial Inc. purchased a new stake in shares of Donegal Group, Inc. (NASDAQ:DGICB) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 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.

Donegal Group Company Profile

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.