Donegal Group (NASDAQ:DGICB) Shares Gap Up – Here’s What Happened

Donegal Group, Inc. (NASDAQ:DGICB)’s stock price gapped up prior to trading on Wednesday. The stock had previously closed at $15.53, but opened at $16.46. Donegal Group shares last traded at $16.1850, with a volume of 5,938 shares changing hands.

Wall Street Analysts Forecast Growth

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, According to data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Donegal Group Trading Up 4.2%

The company has a market capitalization of $600.77 million, a P/E ratio of 9.09 and a beta of 0.04. The company has a 50-day simple moving average of $22.63 and a 200 day simple moving average of $20.61. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.39 and a current ratio of 0.39.

Donegal Group (NASDAQ:DGICB) last posted 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. The company had revenue of $232.25 million during the quarter, compared to analysts’ expectations of $231.53 million. Donegal Group had a return on equity of 10.65% and a net margin of 7.38%.

Donegal Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were issued a $0.1750 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a $0.70 dividend on an annualized basis and a yield of 4.3%. Donegal Group’s dividend payout ratio is 39.33%.

Institutional Inflows and Outflows

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) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 11,469 shares of the insurance provider’s stock, valued at approximately $203,000. 1.19% of the stock is currently 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.