Donegal Group (NASDAQ:DGICB) Sees Unusually-High Trading Volume – What’s Next?

Donegal Group, Inc. (NASDAQ:DGICB) saw strong trading volume on Wednesday . Approximately 41,503 shares traded hands during trading, an increase of 761% from the previous session’s volume of 4,818 shares.The stock last traded at $22.60 and had previously closed at $22.90.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Donegal Group in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold”.

Donegal Group Price Performance

The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.05. The company has a market cap of $861.78 million, a price-to-earnings ratio of 13.07 and a beta of 0.03. The stock’s 50-day simple moving average is $21.53 and its 200 day simple moving average is $18.78.

Donegal Group (NASDAQ:DGICB) last announced its quarterly earnings results on Thursday, July 30th. The insurance provider reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.07. The business had revenue of $232.25 million during the quarter, compared to analysts’ expectations of $231.53 million. Donegal Group had a net margin of 7.38% and a return on equity of 10.77%.

Donegal Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be issued a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 3.0%. The ex-dividend date is Friday, July 31st. Donegal Group’s dividend payout ratio (DPR) is 39.33%.

Institutional Trading of Donegal Group

A hedge fund recently bought a new position in Donegal Group stock. Lewis Asset Management LLC purchased a new position in shares of Donegal Group, Inc. (NASDAQ:DGICB) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,469 shares of the insurance provider’s stock, valued at approximately $203,000. 1.19% of the stock is owned by hedge funds and other institutional investors.

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.