Donegal Group (NASDAQ:DGICB) Shares Up 10.5% – Time to Buy?

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

Wall Street Analyst Weigh In

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

Donegal Group Stock Up 11.1%

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 firm has a fifty day simple moving average of $19.05 and a 200-day simple moving average of $17.45. The firm has a market cap of $823.99 million, a price-to-earnings ratio of 13.16 and a beta of 0.06.

Donegal Group (NASDAQ:DGICB) last announced its earnings results on Thursday, April 30th. The insurance provider reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.15). Donegal Group had a return on equity of 10.31% and a net margin of 6.77%.The firm had revenue of $236.00 million for the quarter, compared to the consensus estimate of $247.83 million.

Donegal Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were issued a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 3.1%. This is an increase from Donegal Group’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Friday, May 1st. Donegal Group’s dividend payout ratio (DPR) is currently 41.42%.

Institutional Inflows and Outflows

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

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.