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

Donegal Group, Inc. (NASDAQ:DGICB)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $23.17, but opened at $24.55. Donegal Group shares last traded at $23.8270, with a volume of 132 shares trading hands.

Analyst Ratings Changes

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

Donegal Group Price Performance

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 company’s 50 day moving average price is $23.45 and its 200-day moving average price is $19.95. The company has a market cap of $918.72 million, a price-to-earnings ratio of 13.90 and a beta of 0.04.

Donegal Group (NASDAQ:DGICB) last issued its earnings results on Thursday, July 30th. The insurance provider reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.07. The firm had revenue of $232.25 million during the quarter, compared to analysts’ expectations of $231.53 million. Donegal Group had a net margin of 7.38% and a return on equity of 10.65%.

Donegal Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were issued a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Friday, July 31st. Donegal Group’s payout ratio is presently 39.33%.

Hedge Funds Weigh In On Donegal Group

An institutional investor recently bought a new stake in Donegal Group stock. Raymond James Financial Inc. purchased a new position in Donegal Group, Inc. (NASDAQ:DGICB) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 5,231 shares of the insurance provider’s stock, valued at approximately $93,000. 1.19% of the stock is currently owned by hedge funds and other 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.