Donegal Group (NASDAQ:DGICB) Issues Earnings Results, Misses Estimates By $0.15 EPS

Donegal Group (NASDAQ:DGICB) released its quarterly earnings data on Thursday. The insurance provider reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.15), Zacks reports. The company had revenue of $236.00 million for the quarter, compared to analyst estimates of $247.83 million. Donegal Group had a return on equity of 10.41% and a net margin of 6.77%.

Donegal Group Trading Down 3.9%

DGICB traded down $0.76 during trading on Friday, reaching $18.50. 442 shares of the company’s stock were exchanged, compared to its average volume of 1,268. Donegal Group has a one year low of $13.84 and a one year high of $20.46. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $684.32 million, a PE ratio of 9.02 and a beta of 0.06. The firm has a fifty day moving average price of $17.17 and a two-hundred day moving average price of $16.61.

Donegal Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Friday, May 1st will be issued a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Friday, May 1st. This is a positive change from Donegal Group’s previous quarterly dividend of $0.17. Donegal Group’s payout ratio is presently 32.20%.

Institutional Investors Weigh In On Donegal Group

A hedge fund recently bought a new stake in Donegal Group stock. Raymond James Financial Inc. acquired a new stake in Donegal Group, Inc. (NASDAQ:DGICB) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 5,231 shares of the insurance provider’s stock, valued at approximately $93,000. 1.19% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Donegal Group in a research report on Friday, March 27th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of “Hold”.

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.