Donegal Group (NASDAQ:DGICB) Shares Gap Up – Still a Buy?

Donegal Group, Inc. (NASDAQ:DGICB) shares gapped up prior to trading on Monday . The stock had previously closed at $18.00, but opened at $19.16. Donegal Group shares last traded at $19.02, with a volume of 102 shares trading hands.

Analysts Set New Price Targets

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

Donegal Group Price Performance

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 company has a 50-day moving average of $17.51 and a 200-day moving average of $16.76. The firm has a market capitalization of $692.79 million, a price-to-earnings ratio of 11.08 and a beta of 0.06.

Donegal Group (NASDAQ:DGICB) last issued its quarterly earnings data 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). Donegal Group had a net margin of 6.77% and a return on equity of 10.31%. The business had revenue of $236.00 million during the quarter, compared to analyst estimates of $247.83 million.

Donegal Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Friday, May 1st will be given a $0.175 dividend. The ex-dividend date is Friday, May 1st. This represents a $0.70 annualized dividend and a dividend yield of 3.7%. This is a boost from Donegal Group’s previous quarterly dividend of $0.17. Donegal Group’s payout ratio is presently 41.42%.

Institutional Investors Weigh In On Donegal Group

An institutional investor recently bought a new position in Donegal Group stock. Lewis Asset Management LLC acquired a new position in shares of Donegal Group, Inc. (NASDAQ:DGICB) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 11,469 shares of the insurance provider’s stock, valued at approximately $203,000. 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.