Donegal Group Inc. Declares Quarterly Dividend of $0.17 (NASDAQ:DGICA)

Donegal Group Inc. (NASDAQ:DGICA) announced a quarterly dividend on Thursday, July 18th, Zacks reports. Shareholders of record on Thursday, August 1st will be paid a dividend of 0.172 per share by the insurance provider on Thursday, August 15th. This represents a $0.69 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date is Thursday, August 1st.

Donegal Group has increased its dividend payment by an average of 4.3% annually over the last three years and has raised its dividend every year for the last 20 years. Donegal Group has a payout ratio of 66.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Donegal Group to earn $0.65 per share next year, which means the company may not be able to cover its $0.69 annual dividend with an expected future payout ratio of 106.2%.

Donegal Group Stock Up 0.9 %

DGICA stock opened at $14.97 on Wednesday. Donegal Group has a twelve month low of $12.26 and a twelve month high of $15.30. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.07. The stock’s 50 day moving average is $13.25 and its 200-day moving average is $13.70. The firm has a market capitalization of $499.85 million, a PE ratio of 93.56 and a beta of -0.05.

Donegal Group (NASDAQ:DGICA) last posted its earnings results on Thursday, July 25th. The insurance provider reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.04. Donegal Group had a return on equity of 0.90% and a net margin of 0.76%. The company had revenue of $246.77 million for the quarter, compared to analyst estimates of $243.00 million. Sell-side analysts expect that Donegal Group will post 0.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Donegal Group from a “hold” rating to a “buy” rating in a report on Friday, April 26th.

Donegal Group Company Profile

Donegal Group Inc, an insurance holding company, provides property and casualty insurance to businesses and individuals. It operates through three 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; and homeowners policies, which provide coverage for damage to residences and their contents from a range of perils, including fire, lightning, windstorm, and theft, as well as liability of the insured arising from injury to other persons or their property.