Donegal Group (NASDAQ:DGICB) Sets New 52-Week High – What’s Next?

Shares of Donegal Group, Inc. (NASDAQ:DGICB) reached a new 52-week high during trading on Monday . The stock traded as high as $24.00 and last traded at $24.96, with a volume of 268 shares changing hands. The stock had previously closed at $21.78.

Analysts Set New Price Targets

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

Donegal Group Stock Performance

The stock has a fifty day simple moving average of $19.74 and a two-hundred day simple moving average of $17.81. 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 stock has a market cap of $924.77 million, a price-to-earnings ratio of 14.77 and a beta of 0.04.

Donegal Group (NASDAQ:DGICB) last announced its quarterly earnings data on Thursday, April 30th. The insurance provider reported $0.30 earnings per share for the quarter, missing the consensus estimate 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 return on equity of 10.31% and a net margin of 6.77%.

Donegal Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were given a dividend of $0.175 per share. The ex-dividend date was Friday, May 1st. This represents a $0.70 dividend on an annualized basis and a yield of 2.8%. This is a positive change from Donegal Group’s previous quarterly dividend of $0.17. Donegal Group’s dividend payout ratio is currently 41.42%.

Hedge Funds Weigh In On Donegal Group

An institutional investor 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 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. Institutional investors 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.