Donegal Group, Inc. (NASDAQ:DGICB) Increases Dividend to $0.18 Per Share

Donegal Group, Inc. (NASDAQ:DGICB) announced a quarterly dividend on Thursday, April 16th. Shareholders of record on Friday, May 1st will be given a dividend of 0.175 per share by the insurance provider on Friday, May 15th. This represents a c) annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Friday, May 1st. This is a 6.1% increase from Donegal Group’s previous quarterly dividend of $0.17.

Donegal Group has raised its dividend by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 5 years. Donegal Group has a payout ratio of 33.0% indicating that its dividend is sufficiently covered by earnings.

Donegal Group Trading Up 2.6%

NASDAQ:DGICB opened at $18.65 on Friday. 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 firm has a market cap of $690.05 million, a price-to-earnings ratio of 9.10 and a beta of 0.04. Donegal Group has a 52 week low of $13.84 and a 52 week high of $20.46. The firm has a 50-day moving average price of $16.72 and a two-hundred day moving average price of $16.42.

Donegal Group (NASDAQ:DGICB) last issued its quarterly earnings results on Thursday, February 19th. The insurance provider reported $0.46 earnings per share (EPS) for the quarter. Donegal Group had a net margin of 8.11% and a return on equity of 12.81%. The company had revenue of $241.87 million during the quarter.

Institutional Inflows and Outflows

A hedge fund 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 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 5,231 shares of the insurance provider’s stock, valued at approximately $93,000. Institutional investors and hedge funds 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.