Donegal Group (NASDAQ:DGICB) Shares Gap Up – Time to Buy?

Donegal Group, Inc. (NASDAQ:DGICB)’s stock price gapped up before the market opened on Wednesday. The stock had previously closed at $15.53, but opened at $16.46. Donegal Group shares last traded at $16.1850, with a volume of 5,938 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Donegal Group in a research note on Monday, September 21st. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, Donegal Group presently has an average rating of “Hold”.

Donegal Group Stock Performance

The firm has a market capitalization of $625.84 million, a PE ratio of 9.47 and a beta of 0.01. The stock’s 50 day moving average price is $22.45 and its two-hundred day moving average price is $20.63. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.05.

Donegal Group (NASDAQ:DGICB) last announced its quarterly earnings data on Thursday, July 30th. The insurance provider reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.07. Donegal Group had a net margin of 7.38% and a return on equity of 10.65%. The business had revenue of $232.25 million for the quarter, compared to the consensus estimate of $231.53 million.

Donegal Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were paid a dividend of $0.1750 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a $0.70 dividend on an annualized basis and a dividend yield of 4.2%. Donegal Group’s dividend payout ratio is currently 39.33%.

Institutional Investors Weigh In On Donegal Group

An institutional investor recently bought a new stake 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 the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 11,469 shares of the insurance provider’s stock, valued at approximately $203,000. 1.19% of the stock is owned by institutional investors and hedge funds.

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.