Donegal Group (NASDAQ:DGICB) Sets New 1-Year High – Here’s What Happened

Donegal Group, Inc. (NASDAQ:DGICB)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $24.00 and last traded at $24.96, with a volume of 268 shares changing hands. The stock had previously closed at $21.78.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Donegal Group in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of “Hold”.

Donegal Group Stock Performance

The firm’s fifty day moving average is $19.92 and its 200-day moving average is $17.91. The stock has a market capitalization of $881.38 million, a PE ratio of 14.08 and a beta of 0.04. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.05.

Donegal Group (NASDAQ:DGICB) last posted its quarterly earnings data 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). The company had revenue of $236.00 million for the quarter, compared to analysts’ expectations of $247.83 million. Donegal Group had a return on equity of 10.31% and a net margin of 6.77%.

Donegal Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were given a dividend of $0.175 per share. This is an increase from Donegal Group’s previous quarterly dividend of $0.17. This represents a $0.70 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Friday, May 1st. Donegal Group’s dividend payout ratio (DPR) is 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 bought a new position in shares of Donegal Group, Inc. (NASDAQ:DGICB) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 11,469 shares of the insurance provider’s stock, valued at approximately $203,000. Institutional investors and hedge funds 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.