Donegal Group (NASDAQ:DGICB) Shares Gap Up – Here’s Why

Donegal Group, Inc. (NASDAQ:DGICB)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $22.90, but opened at $24.83. Donegal Group shares last traded at $24.9590, with a volume of 189 shares trading hands.

Analyst Upgrades and Downgrades

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

Donegal Group Stock Up 2.5%

The firm has a 50 day moving average of $20.31 and a 200 day moving average of $18.13. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 16.19 and a beta of 0.04. 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 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 business 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 disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were paid a $0.175 dividend. The ex-dividend date was Friday, May 1st. This represents a $0.70 annualized dividend and a dividend yield of 2.6%. This is an increase from Donegal Group’s previous quarterly dividend of $0.17. Donegal Group’s dividend payout ratio (DPR) is presently 41.42%.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Donegal Group stock. Lewis Asset Management LLC purchased a new position in Donegal Group, Inc. (NASDAQ:DGICB) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 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.