Donegal Group (NASDAQ:DGICB) Stock Price Up 13.5% – Here’s Why

Donegal Group, Inc. (NASDAQ:DGICB)’s share price rose 13.5% during mid-day trading on Friday . The stock traded as high as $25.50 and last traded at $27.04. 1,124 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 3,679 shares. The stock had previously closed at $23.82.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Donegal Group in a report on Wednesday, June 24th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of “Hold”.

Donegal Group Stock Down 3.9%

The business’s 50 day moving average is $20.16 and its 200 day moving average is $18.04. 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 stock has a market cap of $848.45 million, a price-to-earnings ratio of 13.55 and a beta of 0.04.

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

Donegal Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were issued a dividend of $0.175 per share. This is a positive change from Donegal Group’s previous quarterly dividend of $0.17. This represents a $0.70 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Friday, May 1st. Donegal Group’s dividend payout ratio is presently 41.42%.

Institutional Investors Weigh In On Donegal Group

An institutional investor recently bought a new stake in Donegal Group stock. Lewis Asset Management LLC bought a new stake in shares of Donegal Group, Inc. (NASDAQ:DGICB) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 11,469 shares of the insurance provider’s stock, valued at approximately $203,000. Institutional investors own 1.19% of the company’s stock.

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.