Donegal Group (NASDAQ:DGICB) Reaches New 1-Year High – Here’s What Happened

Donegal Group, Inc. (NASDAQ:DGICB)’s share price reached a new 52-week high on Thursday . The company traded as high as $23.69 and last traded at $23.5350, with a volume of 194 shares changing hands. The stock had previously closed at $20.02.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Donegal Group in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold”.

Donegal Group Stock 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 has a market cap of $836.03 million, a P/E ratio of 13.35 and a beta of 0.06. The firm has a 50 day moving average price of $19.14 and a 200-day moving average price of $17.49.

Donegal Group (NASDAQ:DGICB) last issued 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). Donegal Group had a net margin of 6.77% and a return on equity of 10.31%. The company had revenue of $236.00 million during the quarter, compared to the consensus estimate of $247.83 million.

Donegal Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were issued a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 3.1%. This is a boost from Donegal Group’s previous quarterly dividend of $0.17. The ex-dividend date was Friday, May 1st. Donegal Group’s dividend payout ratio is 41.42%.

Hedge Funds Weigh In On Donegal Group

An institutional investor recently bought a new stake in Donegal Group stock. Raymond James Financial Inc. acquired a new position in Donegal Group, Inc. (NASDAQ:DGICB) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 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.

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.