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

Donegal Group, Inc. (NASDAQ:DGICB) shares gapped up before the market opened on Tuesday . The stock had previously closed at $18.58, but opened at $20.59. Donegal Group shares last traded at $20.42, with a volume of 224 shares trading hands.

Analysts Set New Price Targets

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

Donegal Group Trading Up 9.9%

The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.05. The stock has a 50-day simple moving average of $23.41 and a two-hundred day simple moving average of $20.54. The firm has a market capitalization of $757.99 million, a P/E ratio of 11.47 and a beta of 0.04.

Donegal Group (NASDAQ:DGICB) last released its quarterly earnings data on Thursday, July 30th. The insurance provider reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.07. Donegal Group had a net margin of 7.38% and a return on equity of 10.65%. The company had revenue of $232.25 million during the quarter, compared to analyst estimates of $231.53 million.

Donegal Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were given a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Friday, July 31st. Donegal Group’s dividend payout ratio (DPR) is 39.33%.

Institutional Inflows and Outflows

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

Donegal Group Company Profile

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.