Donegal Group (NASDAQ:DGICB) Sees Unusually-High Trading Volume – Should You Buy?

Shares of Donegal Group, Inc. (NASDAQ:DGICB) saw strong trading volume on Wednesday . Approximately 2,969 shares changed hands during trading, a decline of 19% from the previous session’s volume of 3,648 shares.The stock last traded at $21.11 and had previously closed at $21.81.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed 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 data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Donegal Group Price Performance

The firm has a 50 day moving average of $20.94 and a two-hundred day moving average of $18.46. The company has a market cap of $843.26 million, a PE ratio of 13.47 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 released its earnings results on Thursday, April 30th. The insurance provider reported $0.30 EPS 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 company had revenue of $236.00 million during the quarter, compared to analysts’ expectations of $247.83 million.

Donegal Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be paid a $0.175 dividend. The ex-dividend date is Friday, July 31st. This represents a $0.70 dividend on an annualized basis and a yield of 3.1%. Donegal Group’s payout ratio is presently 41.42%.

Institutional Trading of Donegal Group

An institutional investor recently bought a new stake in Donegal Group stock. Raymond James Financial Inc. bought a new position in Donegal Group, Inc. (NASDAQ:DGICB) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,231 shares of the insurance provider’s stock, valued at approximately $93,000. Hedge funds and other 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.