Donegal Group (NASDAQ:DGICB) Trading 4.7% Higher – Time to Buy?

Donegal Group, Inc. (NASDAQ:DGICB) shares traded up 4.7% during mid-day trading on Wednesday . The stock traded as high as $18.47 and last traded at $19.4450. Approximately 226 shares changed hands during trading, a decline of 95% from the average daily volume of 4,731 shares. The stock had previously closed at $18.58.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Donegal Group in a research note on Monday. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, Donegal Group currently has an average rating of “Hold”.

Donegal Group Price Performance

The firm has a market cap of $765.41 million, a P/E ratio of 11.58 and a beta of 0.04. The firm’s fifty day simple moving average is $23.22 and its 200 day simple moving average is $20.55. 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 (NASDAQ:DGICB) last posted its earnings results on Thursday, July 30th. The insurance provider reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.07. The company had revenue of $232.25 million for the quarter, compared to the consensus estimate of $231.53 million. Donegal Group had a return on equity of 10.65% and a net margin of 7.38%.

Donegal Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were paid a $0.175 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a $0.70 dividend on an annualized basis and a yield of 3.4%. Donegal Group’s payout ratio is presently 39.33%.

Institutional Inflows and Outflows

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

About Donegal Group

Donegal Group Inc is an insurance holding company that provides property and casualty insurance through a network of regional insurance subsidiaries. The company distributes its products primarily through independent insurance agents and serves individuals, families, farms, and businesses.

Its offerings include personal automobile, homeowners, dwelling fire, farmowners, and other personal insurance products, as well as commercial automobile, commercial property, businessowners, workers’ compensation, and other commercial coverage.