Donegal Group (NASDAQ:DGICB) Trading 10.5% Higher – Time to Buy?

Donegal Group, Inc. (NASDAQ:DGICB) shares rose 10.5% during mid-day trading on Wednesday . The company traded as high as $21.75 and last traded at $22.1290. Approximately 192 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 3,923 shares. The stock had previously closed at $20.02.

Analysts Set New Price Targets

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

Donegal Group Stock Performance

The firm has a market cap of $823.99 million, a PE ratio of 13.16 and a beta of 0.06. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.05. The company has a 50-day simple moving average of $19.05 and a two-hundred day simple moving average of $17.45.

Donegal Group (NASDAQ:DGICB) last issued its quarterly earnings results on Thursday, April 30th. The insurance provider reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.15). The company had revenue of $236.00 million for the quarter, compared to analysts’ expectations 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 announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were issued a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Friday, May 1st. This is a boost from Donegal Group’s previous quarterly dividend of $0.17. Donegal Group’s payout ratio is presently 41.42%.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Donegal Group stock. Lewis Asset Management LLC acquired a new stake in shares of Donegal Group, Inc. (NASDAQ:DGICB) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 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.

Donegal Group Company Profile

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.