Donegal Group (NASDAQ:DGICB) Stock Passes Above 50 Day Moving Average – What’s Next?

Donegal Group, Inc. (NASDAQ:DGICB)’s share price crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $18.10 and traded as high as $18.71. Donegal Group shares last traded at $18.29, with a volume of 1,913 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Donegal Group in a research report on Friday, March 27th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Donegal Group has a consensus rating of “Hold”.

Donegal Group Price Performance

The firm has a 50 day moving average price of $18.10 and a 200 day moving average price of $17.00. The stock has a market cap of $677.64 million, a P/E ratio of 10.82 and a beta of 0.06. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.05.

Donegal Group (NASDAQ:DGICB) last issued its 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 business had revenue of $236.00 million for the quarter, compared to the consensus estimate 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 firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were paid a dividend of $0.175 per share. This is a boost from Donegal Group’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Friday, May 1st. This represents a $0.70 annualized dividend and a yield of 3.8%. Donegal Group’s dividend payout ratio is 41.42%.

Institutional Trading of Donegal Group

A hedge fund recently bought a new stake 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. 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.