Donegal Group (NASDAQ:DGICB) Issues Quarterly Earnings Results

Donegal Group (NASDAQ:DGICB) posted its earnings results on Thursday. The insurance provider reported $0.49 EPS for the quarter, topping the consensus estimate of $0.42 by $0.07, Zacks reports. Donegal Group had a net margin of 7.38% and a return on equity of 10.77%. The firm had revenue of $232.25 million for the quarter, compared to analysts’ expectations of $231.53 million.

Donegal Group Price Performance

Shares of NASDAQ:DGICB opened at $20.76 on Friday. The company has a market capitalization of $769.01 million, a P/E ratio of 11.66 and a beta of 0.04. The company’s 50-day moving average is $21.36 and its 200 day moving average is $18.69. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.39 and a current ratio of 0.39. Donegal Group has a fifty-two week low of $13.84 and a fifty-two week high of $29.99.

Donegal Group Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Friday, July 31st. Donegal Group’s payout ratio is 41.42%.

Institutional Trading of Donegal Group

A hedge fund recently bought a new stake in Donegal Group stock. Raymond James Financial Inc. bought a new stake in Donegal Group, Inc. (NASDAQ:DGICB) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,231 shares of the insurance provider’s stock, valued at approximately $93,000. Hedge funds and other institutional investors own 1.19% of the company’s stock.

Analyst Ratings Changes

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

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.