Donegal Group (NASDAQ:DGICB) Shares Gap Up – What’s Next?

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.

Wall Street Analysts Forecast Growth

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

Donegal Group Price Performance

The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.39 and a current ratio of 0.39. The firm has a fifty day simple moving average of $21.31 and a 200 day simple moving average of $20.81. The company has a market capitalization of $894.59 million, a PE ratio of 13.54 and a beta of 0.01.

Donegal Group (NASDAQ:DGICB) last issued its earnings results on Thursday, July 30th. The insurance provider reported $0.49 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $231.53 million.

Donegal Group Dividend Announcement

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

Institutional Trading of Donegal Group

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

Donegal Group Company Profile

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.