Donegal Group (NASDAQ:DGICB) Hits New 1-Year High – What’s Next?

Donegal Group, Inc. (NASDAQ:DGICB) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $23.69 and last traded at $23.5350, with a volume of 194 shares. The stock had previously closed at $20.02.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Donegal Group in a research report on Wednesday. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold”.

Donegal Group Price Performance

The firm has a 50-day simple moving average of $19.30 and a 200-day simple moving average of $17.57. The firm has a market capitalization of $844.55 million, a PE ratio of 13.49 and a beta of 0.06. 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 (NASDAQ:DGICB) last issued 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). The business had revenue of $236.00 million during the quarter, compared to the consensus estimate 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 disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were paid a $0.175 dividend. This is a positive change from Donegal Group’s previous quarterly dividend of $0.17. The ex-dividend date was Friday, May 1st. This represents a $0.70 annualized dividend and a dividend yield of 3.1%. Donegal Group’s dividend payout ratio (DPR) is currently 41.42%.

Institutional Trading of Donegal Group

An institutional investor recently bought a new position in Donegal Group stock. Raymond James Financial Inc. bought a new stake in shares of Donegal Group, Inc. (NASDAQ:DGICB) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 5,231 shares of the insurance provider’s stock, valued at approximately $93,000. Hedge funds and other institutional investors 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.