Donegal Group (NASDAQ:DGICB) Shares Up 10.5% – Should You Buy?

Donegal Group, Inc. (NASDAQ:DGICB)’s stock price traded up 10.5% on Wednesday . The stock traded as high as $21.75 and last traded at $22.1290. 192 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 3,923 shares. The stock had previously closed at $20.02.

Analyst Upgrades and Downgrades

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

Donegal Group Stock Up 8.5%

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 business has a 50 day simple moving average of $19.22 and a 200-day simple moving average of $17.53. The firm has a market capitalization of $816.95 million, a price-to-earnings ratio of 13.05 and a beta of 0.06.

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

Donegal Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were issued a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 3.2%. The ex-dividend date was Friday, May 1st. This is a positive change from Donegal Group’s previous quarterly dividend of $0.17. Donegal Group’s dividend payout ratio (DPR) is presently 41.42%.

Institutional Trading of Donegal Group

An institutional investor recently bought a new position in Donegal Group stock. Raymond James Financial Inc. acquired a new stake in Donegal Group, Inc. (NASDAQ:DGICB) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 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.

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.