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

Donegal Group (NASDAQ:DGICB) announced its quarterly earnings data on Thursday. The insurance provider reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.15), Zacks reports. The business had revenue of $236.00 million during 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 Stock Down 3.9%

NASDAQ DGICB traded down $0.76 during trading on Friday, reaching $18.50. The company’s stock had a trading volume of 442 shares, compared to its average volume of 1,268. 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 business has a 50-day moving average price of $17.17 and a 200-day moving average price of $16.61. Donegal Group has a 1-year low of $13.84 and a 1-year high of $20.46.

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 paid a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 3.8%. This is a boost from Donegal Group’s previous quarterly dividend of $0.17. The ex-dividend date is Friday, May 1st. Donegal Group’s dividend payout ratio is presently 32.20%.

Analyst Ratings Changes

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

Institutional Trading of Donegal Group

An institutional investor recently bought a new position in Donegal Group stock. Raymond James Financial Inc. bought a new stake in shares of Donegal Group, Inc. (NASDAQ:DGICB) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 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.

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.