Donegal Group (NASDAQ:DGICB) Shares Gap Up – Should You Buy?

Donegal Group, Inc. (NASDAQ:DGICB)’s share price gapped up prior to trading on Monday . The stock had previously closed at $18.81, but opened at $21.87. Donegal Group shares last traded at $20.4850, with a volume of 379 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Donegal Group in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Donegal Group currently has an average rating of “Hold”.

Donegal Group Trading Up 1.2%

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 market capitalization of $857.34 million, a P/E ratio of 13.69 and a beta of 0.06. The firm has a 50 day moving average price of $18.95 and a two-hundred day moving average price of $17.40.

Donegal Group (NASDAQ:DGICB) last announced its earnings results on Thursday, April 30th. The insurance provider reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.15). Donegal Group had a return on equity of 10.31% and a net margin of 6.77%.The company had revenue of $236.00 million for the quarter, compared to analyst estimates of $247.83 million.

Donegal Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were issued a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 3.0%. The ex-dividend date was Friday, May 1st. This is a boost from Donegal Group’s previous quarterly dividend of $0.17. Donegal Group’s dividend payout ratio is presently 41.42%.

Institutional Trading of Donegal Group

An institutional investor recently bought a new stake in Donegal Group stock. Raymond James Financial Inc. bought a new position in Donegal Group, Inc. (NASDAQ:DGICB) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 5,231 shares of the insurance provider’s stock, valued at approximately $93,000. 1.19% of the stock is owned by institutional investors.

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.