Donegal Group (NASDAQ:DGICB) Hits New 1-Year High – Time to Buy?

Donegal Group, Inc. (NASDAQ:DGICB)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $24.00 and last traded at $24.96, with a volume of 268 shares traded. The stock had previously closed at $21.78.

Analyst Upgrades and Downgrades

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

Donegal Group Stock Up 14.6%

The company has a debt-to-equity ratio of 0.05, a current ratio of 0.39 and a quick ratio of 0.39. The firm’s fifty day moving average price is $19.74 and its two-hundred day moving average price is $17.81. The stock has a market cap of $924.77 million, a price-to-earnings ratio of 14.77 and a beta of 0.04.

Donegal Group (NASDAQ:DGICB) last released 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 business had revenue of $236.00 million during 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 company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were issued a $0.175 dividend. The ex-dividend date of this dividend was Friday, May 1st. This is a positive change from Donegal Group’s previous quarterly dividend of $0.17. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.8%. Donegal Group’s payout ratio is currently 41.42%.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Donegal Group stock. Raymond James Financial Inc. purchased a new stake in shares of Donegal Group, Inc. (NASDAQ:DGICB) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 5,231 shares of the insurance provider’s stock, valued at approximately $93,000. 1.19% of the stock is owned by 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.