Donegal Group, Inc. (NASDAQ:DGICA) announced a quarterly dividend on Friday, April 20th, Wall Street Journal reports. Shareholders of record on Tuesday, May 1st will be paid a dividend of 0.1425 per share by the insurance provider on Tuesday, May 15th. This represents a $0.57 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date is Monday, April 30th. This is an increase from Donegal Group’s previous quarterly dividend of $0.14.
Shares of NASDAQ:DGICA traded up $0.10 on Friday, reaching $15.13. 19,206 shares of the company’s stock were exchanged, compared to its average volume of 27,598. The stock has a market capitalization of $428.34, a price-to-earnings ratio of 50.63 and a beta of 0.42. Donegal Group has a fifty-two week low of $14.51 and a fifty-two week high of $18.25. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.43 and a current ratio of 0.43.
Donegal Group (NASDAQ:DGICA) last issued its earnings results on Friday, February 23rd. The insurance provider reported $0.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.35). The business had revenue of $188.55 million for the quarter, compared to analyst estimates of $190.40 million. Donegal Group had a return on equity of 1.82% and a net margin of 0.96%. sell-side analysts expect that Donegal Group will post 0.8 EPS for the current fiscal year.
An institutional investor recently raised its position in Donegal Group stock. The Manufacturers Life Insurance Company boosted its stake in Donegal Group, Inc. (NASDAQ:DGICA) by 78.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,817 shares of the insurance provider’s stock after buying an additional 5,203 shares during the period. The Manufacturers Life Insurance Company’s holdings in Donegal Group were worth $189,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 31.06% of the company’s stock.
DGICA has been the subject of several recent research reports. Zacks Investment Research lowered shares of Donegal Group from a “buy” rating to a “hold” rating in a research report on Tuesday, February 20th. BidaskClub lowered shares of Donegal Group from a “hold” rating to a “sell” rating in a research report on Saturday, April 7th. Keefe, Bruyette & Woods set a $19.00 price target on shares of Donegal Group and gave the stock a “buy” rating in a research report on Friday, February 23rd. Boenning Scattergood restated a “buy” rating on shares of Donegal Group in a research report on Monday, February 26th. Finally, TheStreet lowered shares of Donegal Group from a “b” rating to a “c+” rating in a research report on Friday, February 23rd. Two research analysts have rated the stock with a sell rating and two have given a buy rating to the company. Donegal Group has an average rating of “Hold” and an average price target of $19.33.
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Donegal Group Company Profile
Donegal Group Inc, an insurance holding company, provides 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, Commercial Lines of Insurance, and Investment in DFSC.
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