Donegal Group (NASDAQ:DGICB) Trading Up 13.5% – Time to Buy?

Donegal Group, Inc. (NASDAQ:DGICB)’s share price rose 13.5% during trading on Friday . The company traded as high as $25.50 and last traded at $27.04. Approximately 1,124 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 3,679 shares. The stock had previously closed at $23.82.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Donegal Group in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Donegal Group has a consensus rating of “Hold”.

Donegal Group Trading Up 3.0%

The stock has a market cap of $909.21 million, a price-to-earnings ratio of 14.52 and a beta of 0.04. The business has a fifty day simple moving average of $20.09 and a 200 day simple moving average of $18.01. 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 announced its earnings results 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 firm had revenue of $236.00 million during 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 firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were issued a $0.175 dividend. This is a positive change from Donegal Group’s previous quarterly dividend of $0.17. The ex-dividend date was Friday, May 1st. This represents a $0.70 annualized dividend and a yield of 2.9%. Donegal Group’s dividend payout ratio (DPR) is presently 41.42%.

Institutional Trading of Donegal Group

An institutional investor recently bought a new position in Donegal Group stock. Lewis Asset Management LLC acquired a new stake in Donegal Group, Inc. (NASDAQ:DGICB) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 11,469 shares of the insurance provider’s stock, valued at approximately $203,000. 1.19% of the stock is currently owned by institutional investors and hedge funds.

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.