Donegal Group (NASDAQ:DGICB) Sees Strong Trading Volume – Here’s What Happened

Donegal Group, Inc. (NASDAQ:DGICB) saw unusually-high trading volume on Wednesday . Approximately 41,503 shares changed hands during mid-day trading, an increase of 761% from the previous session’s volume of 4,818 shares.The stock last traded at $22.60 and had previously closed at $22.90.

Wall Street Analysts Forecast Growth

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

Donegal Group Trading Up 1.6%

The firm has a market capitalization of $870.71 million, a PE ratio of 13.32 and a beta of 0.03. The firm has a 50 day simple moving average of $21.73 and a 200 day simple moving average of $18.86. 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 results on Thursday, July 30th. The insurance provider reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.07. Donegal Group had a return on equity of 10.65% and a net margin of 7.38%.The firm had revenue of $232.25 million during the quarter, compared to analysts’ expectations of $231.53 million.

Donegal Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be issued a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, July 31st. Donegal Group’s dividend payout ratio (DPR) is presently 39.33%.

Institutional Trading of Donegal Group

A hedge fund recently bought a new position in Donegal Group stock. Lewis Asset Management LLC acquired a new stake in shares of Donegal Group, Inc. (NASDAQ:DGICB) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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.

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.