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

Donegal Group, Inc. (NASDAQ:DGICB) gapped up prior to trading on Thursday. The stock had previously closed at $19.70, but opened at $21.01. Donegal Group shares last traded at $22.1260, with a volume of 5,880 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Donegal Group in a research report on Monday, September 21st. One equities research analyst has rated the stock with a Hold rating. According to MarketBeat.com, Donegal Group currently has a consensus rating of “Hold”.

Donegal Group Price Performance

The company has a market cap of $890.51 million, a P/E ratio of 13.48 and a beta of 0.01. The company has a fifty day moving average price of $21.29 and a two-hundred day moving average price of $20.88. 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 released its earnings results on Thursday, July 30th. The insurance provider reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.07. Donegal Group had a return on equity of 10.65% and a net margin of 7.38%. The business had revenue of $232.25 million for the quarter, compared to the consensus estimate of $231.53 million.

Donegal Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Monday, November 2nd will be given a dividend of $0.1750 per share. The ex-dividend date of this dividend is Monday, November 2nd. This represents a $0.70 annualized dividend and a dividend yield of 2.9%. Donegal Group’s payout ratio is 39.33%.

Institutional Investors Weigh In On Donegal Group

A hedge fund recently bought a new stake 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 Form 13F 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 and hedge funds own 1.19% of the company’s stock.

About Donegal Group

Donegal Group Inc is an insurance holding company headquartered in Marietta, Pennsylvania. Established in 1986, the company operates through regional property and casualty insurance subsidiaries and is affiliated with Donegal Mutual Insurance Company.

Donegal Group provides a range of personal, commercial, and agricultural insurance products. Its offerings generally include private passenger automobile, homeowners, commercial automobile, commercial property, business liability, workers’ compensation, and farm insurance.

The company distributes its policies primarily through independent insurance agencies and serves policyholders across multiple states in the Mid-Atlantic, Midwestern, and Southern regions of the United States.