Donegal Group (NASDAQ:DGICB) Hits New 12-Month High – Still a Buy?

Donegal Group, Inc. (NASDAQ:DGICB)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $25.50 and last traded at $24.18, with a volume of 2117 shares traded. The stock had previously closed at $22.90.

Analysts Set New Price Targets

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

Donegal Group Stock Up 3.8%

The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 16.40 and a beta of 0.04. The firm’s 50 day moving average price is $20.50 and its two-hundred day moving average price is $18.21. 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 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 during the quarter, compared to analyst estimates of $247.83 million. Donegal Group had a net margin of 6.77% and a return on equity of 10.31%.

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 paid a $0.175 dividend. This is an increase 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 2.5%. Donegal Group’s dividend payout ratio (DPR) is 41.42%.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Donegal Group stock. Raymond James Financial Inc. purchased a new position in shares of Donegal Group, Inc. (NASDAQ:DGICB) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,231 shares of the insurance provider’s stock, valued at approximately $93,000. 1.19% of the stock is currently owned by institutional investors and hedge funds.

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.