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

Donegal Group, Inc. (NASDAQ:DGICB)’s share price gapped up prior to trading on Monday . The stock had previously closed at $20.29, but opened at $21.60. Donegal Group shares last traded at $21.1610, with a volume of 482 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Donegal Group in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, Donegal Group currently has a consensus rating of “Hold”.

Donegal Group Trading Up 1.2%

The stock has a market capitalization of $809.54 million, a P/E ratio of 12.93 and a beta of 0.04. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.05. The stock’s 50 day moving average price is $21.21 and its 200-day moving average price is $18.61.

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

Donegal Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be given a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, July 31st. Donegal Group’s dividend payout ratio (DPR) is presently 41.42%.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Donegal Group stock. Lewis Asset Management LLC acquired a new stake in Donegal Group, Inc. (NASDAQ:DGICB) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 11,469 shares of the insurance provider’s stock, valued at approximately $203,000. 1.19% of the stock is currently owned by institutional investors and hedge funds.

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.