Donegal Group (NASDAQ:DGICB) Reaches New 12-Month High – Here’s What Happened

Donegal Group, Inc. (NASDAQ:DGICB) hit a new 52-week high on Tuesday . The company traded as high as $23.69 and last traded at $23.69, with a volume of 17969 shares trading hands. The stock had previously closed at $18.22.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Donegal Group in a research report on Friday, March 27th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Donegal Group Stock Performance

The firm has a 50 day moving average of $18.62 and a two-hundred day moving average of $17.26. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.39 and a quick ratio of 0.39. The stock has a market cap of $877.71 million, a PE ratio of 14.02 and a beta of 0.06.

Donegal Group (NASDAQ:DGICB) last announced its quarterly earnings results on Thursday, April 30th. The insurance provider reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.15). Donegal Group had a net margin of 6.77% and a return on equity of 10.31%. The company had revenue of $236.00 million during the quarter, compared to analysts’ expectations of $247.83 million.

Donegal Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were paid a $0.175 dividend. This is an increase from Donegal Group’s previous quarterly dividend of $0.17. This represents a $0.70 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Friday, May 1st. Donegal Group’s dividend payout ratio (DPR) is presently 41.42%.

Hedge Funds Weigh In On Donegal Group

A hedge fund recently bought a new stake in Donegal Group stock. Raymond James Financial Inc. purchased a new stake in Donegal Group, Inc. (NASDAQ:DGICB) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 5,231 shares of the insurance provider’s stock, valued at approximately $93,000. 1.19% of the stock is currently owned by hedge funds and other institutional investors.

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.