Donegal Group (NASDAQ:DGICB) Reaches New 12-Month High – What’s Next?

Donegal Group, Inc. (NASDAQ:DGICB) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $23.69 and last traded at $23.69, with a volume of 17969 shares. The stock had previously closed at $18.22.

Wall Street Analysts Forecast Growth

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

Donegal Group Stock Performance

The firm’s 50 day moving average price is $18.77 and its 200-day moving average price is $17.31. The firm has a market cap of $846.96 million, a price-to-earnings ratio of 13.53 and a beta of 0.06. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.39 and a quick ratio of 0.39.

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

Donegal Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were given a dividend of $0.175 per share. This is an increase from Donegal Group’s previous quarterly dividend of $0.17. This represents a $0.70 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Friday, May 1st. 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 stake in Donegal Group stock. Lewis Asset Management LLC acquired a new position in Donegal Group, Inc. (NASDAQ:DGICB) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 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, 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.