Donegal Group, Inc. (DGICA) to Issue Quarterly Dividend of $0.18 on February 17th

Donegal Group, Inc. (NASDAQ:DGICA) declared a quarterly dividend on Thursday, December 18th. Shareholders of record on Tuesday, February 3rd will be paid a dividend of 0.1825 per share by the insurance provider on Tuesday, February 17th. This represents a c) dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Tuesday, February 3rd.

Donegal Group has increased its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 5 consecutive years. Donegal Group has a dividend payout ratio of 36.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Donegal Group to earn $1.40 per share next year, which means the company should continue to be able to cover its $0.73 annual dividend with an expected future payout ratio of 52.1%.

Donegal Group Stock Performance

DGICA stock opened at $18.67 on Friday. The company has a 50 day moving average price of $19.73 and a 200 day moving average price of $19.01. Donegal Group has a fifty-two week low of $14.25 and a fifty-two week high of $21.12. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.39 and a quick ratio of 0.39. The stock has a market capitalization of $684.07 million, a PE ratio of 7.71 and a beta of 0.05.

Donegal Group (NASDAQ:DGICA) last released its earnings results on Thursday, October 30th. The insurance provider reported $0.52 EPS for the quarter, beating the consensus estimate of $0.37 by $0.15. Donegal Group had a return on equity of 14.28% and a net margin of 8.72%.The company had revenue of $245.92 million during the quarter, compared to analysts’ expectations of $244.19 million. Analysts forecast that Donegal Group will post 1.2 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Zacks Research downgraded shares of Donegal Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 19th. Keefe, Bruyette & Woods boosted their price target on shares of Donegal Group from $20.00 to $21.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 6th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Donegal Group in a research note on Wednesday, January 21st. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Donegal Group has an average rating of “Moderate Buy” and an average target price of $21.00.

Donegal Group Company Profile

Donegal Group, Inc (NASDAQ: DGICA) is a property and casualty insurance holding company headquartered in Marietta, Pennsylvania. Through a network of independent agencies, the company offers a suite of personal and commercial insurance products. Its underwriting subsidiaries provide homeowners, automobile, farmowner, commercial multi-peril, surety and umbrella coverages designed to meet the needs of individuals, families and businesses.

The company’s origins date back to 1925 with the formation of Donegal Mutual Insurance Company to serve rural communities in Pennsylvania.