Donegal Group (NASDAQ:DGICB) Reaches New 52-Week High – Still a Buy?

Donegal Group, Inc. (NASDAQ:DGICB) reached a new 52-week high during trading on Monday . The stock traded as high as $25.50 and last traded at $24.18, with a volume of 2117 shares. The stock had previously closed at $22.90.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Donegal Group in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has an average 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 50 day moving average price of $20.16 and a 200 day moving average price of $18.06. The company has a market capitalization of $895.87 million, a price-to-earnings ratio of 14.31 and a beta of 0.04.

Donegal Group (NASDAQ:DGICB) last posted its quarterly earnings results 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 return on equity of 10.31% and a net margin of 6.77%.The firm had revenue of $236.00 million for the quarter, compared to analyst estimates of $247.83 million.

Donegal Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were issued a dividend of $0.175 per share. This is a positive change from Donegal Group’s previous quarterly dividend of $0.17. This represents a $0.70 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Friday, May 1st. Donegal Group’s dividend payout ratio is presently 41.42%.

Hedge Funds Weigh In On Donegal Group

A hedge fund recently bought a new stake in Donegal Group stock. Raymond James Financial Inc. bought a new position in Donegal Group, Inc. (NASDAQ:DGICB) during the second quarter, according to its most recent filing with the SEC. The firm 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 and hedge funds.

Donegal Group Company Profile

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.