Donegal Group (NASDAQ:DGICB) Shares Gap Up – Should You Buy?

Shares of Donegal Group, Inc. (NASDAQ:DGICB) gapped up before the market opened on Monday . The stock had previously closed at $18.81, but opened at $21.87. Donegal Group shares last traded at $20.4850, with a volume of 379 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Donegal Group in a report on Friday, March 27th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Donegal Group Stock Down 4.9%

The company has a market cap of $741.74 million, a PE ratio of 11.85 and a beta of 0.06. The company’s 50 day moving average is $19.05 and its 200 day moving average is $17.45. 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 announced 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 the consensus estimate of $247.83 million. Donegal Group had a net margin of 6.77% and a return on equity of 10.31%.

Donegal Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were paid a dividend of $0.175 per share. This is a boost from Donegal Group’s previous quarterly dividend of $0.17. This represents a $0.70 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Friday, May 1st. Donegal Group’s payout ratio is presently 41.42%.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Donegal Group stock. Raymond James Financial Inc. bought a new stake in shares of Donegal Group, Inc. (NASDAQ:DGICB) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 5,231 shares of the insurance provider’s stock, valued at approximately $93,000. Institutional investors 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.