Donegal Group (NASDAQ:DGICB) Stock Price Up 18.2% – What’s Next?

Donegal Group, Inc. (NASDAQ:DGICB) shot up 18.2% on Wednesday . The stock traded as high as $20.92 and last traded at $25.54. Approximately 351 shares were traded during trading, a decline of 93% from the average daily volume of 4,987 shares. The stock had previously closed at $21.60.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Donegal Group in a research note on Wednesday, June 24th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold”.

Donegal Group Stock Performance

The firm has a market cap of $797.83 million, a PE ratio of 12.49 and a beta of 0.04. The company has a 50 day simple moving average of $21.21 and a 200-day simple moving average of $18.61. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.39 and a quick ratio of 0.39.

Donegal Group (NASDAQ:DGICB) last issued its earnings results on Thursday, April 30th. The insurance provider reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $247.83 million.

Donegal Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be given a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Friday, July 31st. Donegal Group’s payout ratio is presently 41.42%.

Institutional Investors Weigh In On Donegal Group

A hedge fund recently bought a new position in Donegal Group stock. Raymond James Financial Inc. acquired a new stake in Donegal Group, Inc. (NASDAQ:DGICB) during the 2nd 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 owned by institutional investors and hedge funds.

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.