Donegal Group (NASDAQ:DGICB) Issues Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Key Points

• Donegal Group reported quarterly EPS of $0.49, beating analyst expectations of $0.42 by $0.07. The company posted a 10.31% return on equity and a 6.77% net margin.
• The company declared a quarterly dividend of $0.175 per share, payable August 14 to shareholders of record July 31. The annualized dividend is $0.70, representing a 3.2% yield.
• Donegal Group shares recently traded at $21.90, while analysts maintained an overall “Hold” rating. Raymond James Financial also initiated a position of 5,231 shares.

Donegal Group (NASDAQ:DGICB - Get Free Report) announced its earnings results on Thursday. The insurance provider reported $0.49 EPS for the quarter, topping the consensus estimate of $0.42 by $0.07, Zacks reports. Donegal Group had a return on equity of 10.31% and a net margin of 6.77%.

Donegal Group Price Performance

Shares of Donegal Group stock traded up $0.05 on Thursday, hitting $21.90. 222 shares of the company traded hands, compared to its average volume of 4,902. The company has a market cap of $811.39 million, a P/E ratio of 12.96 and a beta of 0.04. 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 has a 12-month low of $13.84 and a 12-month high of $29.99. The firm's 50-day simple moving average is $21.27 and its 200 day simple moving average is $18.64.

Donegal Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be issued a $0.175 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $0.70 annualized dividend and a dividend yield of 3.2%. Donegal Group's dividend payout ratio (DPR) is presently 41.42%.

Institutional Investors Weigh In On Donegal Group

An institutional investor recently bought a new position in Donegal Group stock. Raymond James Financial Inc. bought a new stake in shares of Donegal Group, Inc. (NASDAQ:DGICB - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,231 shares of the insurance provider's stock, valued at approximately $93,000. Hedge funds and other institutional investors own 1.19% of the company's stock.

Wall Street Analysts Forecast Growth

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

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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