Donegal Group (NASDAQ:DGICB) Hits New 1-Year High - Here's What Happened

Key Points

• Donegal Group shares hit a new 52-week high, trading as high as $25.50 before closing at $24.18, up from the previous close of $22.90.
• The stock still carries a Hold rating overall, with Weiss Ratings reiterating its "hold (c)" view despite the recent price move.
• Donegal Group recently raised its quarterly dividend to $0.175 per share, equal to a 2.9% annualized yield, even though its latest earnings and revenue both missed analyst expectations.

Donegal Group, Inc. (NASDAQ:DGICB - Get Free Report) shares hit a new 52-week high on Monday . The stock traded as high as $25.50 and last traded at $24.18, with a volume of 2117 shares trading hands. The stock had previously closed at $22.90.

Analyst Ratings Changes

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 Price Performance

The company has a debt-to-equity ratio of 0.05, a current ratio of 0.39 and a quick ratio of 0.39. The stock has a market cap of $895.87 million, a P/E ratio of 14.31 and a beta of 0.04. The business's fifty day moving average price is $20.16 and its 200 day moving average price is $18.06.

Donegal Group (NASDAQ:DGICB - Get Free Report) last posted its earnings results on Thursday, April 30th. The insurance provider reported $0.30 earnings per share 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 the consensus estimate of $247.83 million.

Donegal Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were given a dividend of $0.175 per share. The ex-dividend date was Friday, May 1st. This represents a $0.70 annualized dividend and a yield of 2.9%. This is a boost from Donegal Group's previous quarterly dividend of $0.17. Donegal Group's dividend payout ratio is 41.42%.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Donegal Group stock. Raymond James Financial Inc. acquired a new position in Donegal Group, Inc. (NASDAQ:DGICB - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 5,231 shares of the insurance provider's stock, valued at approximately $93,000. Institutional investors and hedge funds own 1.19% of the company's stock.

Donegal Group Company Profile

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.

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