Donegal Group (NASDAQ:DGICB) Issues Quarterly Earnings Results

Donegal Group (NASDAQ:DGICB) announced its quarterly earnings data on Thursday. The insurance provider reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.07, Zacks reports. Donegal Group had a net margin of 6.77% and a return on equity of 10.31%. The business had revenue of $232.25 million during the quarter, compared to the consensus estimate of $231.53 million.

Donegal Group Trading Up 0.2%

DGICB stock opened at $21.90 on Friday. Donegal Group has a 12 month low of $13.84 and a 12 month high of $29.99. The firm’s 50-day moving average is $21.33 and its 200 day moving average is $18.67. The company has a market capitalization of $811.39 million, a PE ratio of 12.96 and a beta of 0.04. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.39 and a quick ratio of 0.39.

Donegal Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be paid a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Friday, July 31st. Donegal Group’s dividend payout ratio (DPR) is currently 41.42%.

Hedge Funds Weigh In On Donegal Group

An institutional investor recently bought a new stake in Donegal Group stock. Raymond James Financial Inc. bought a new position in Donegal Group, Inc. (NASDAQ:DGICB) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 5,231 shares of the insurance provider’s stock, valued at approximately $93,000. 1.19% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Donegal Group in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

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.