Donegal Group (NASDAQ:DGICB) Shares Gap Up – Still a Buy?

Donegal Group, Inc. (NASDAQ:DGICB) gapped up prior to trading on Monday . The stock had previously closed at $20.29, but opened at $21.60. Donegal Group shares last traded at $21.1610, with a volume of 482 shares.

Analyst Upgrades and Downgrades

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

Donegal Group Price 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 firm has a fifty day simple moving average of $21.10 and a 200 day simple moving average of $18.55. The company has a market capitalization of $746.97 million, a PE ratio of 11.93 and a beta of 0.04.

Donegal Group (NASDAQ:DGICB) last issued its earnings results on Thursday, April 30th. The insurance provider reported $0.30 earnings per share 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 analysts’ expectations of $247.83 million.

Donegal Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be issued a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 3.5%. The ex-dividend date is Friday, July 31st. Donegal Group’s dividend payout ratio is presently 41.42%.

Institutional Investors Weigh In On Donegal Group

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

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.