Donegal Group (NASDAQ:DGICB) Shares Gap Up After Dividend Announcement

Donegal Group, Inc. (NASDAQ:DGICB - Get Free Report)'s share price gapped up before the market opened on Friday following a dividend announcement from the company. The stock had previously closed at $18.65, but opened at $19.85. Donegal Group shares last traded at $18.8750, with a volume of 2,622 shares traded. The newly announced dividend which will be paid on Friday, May 15th. Investors of record on Friday, May 1st will be paid a $0.175 dividend. The ex-dividend date of this dividend is Friday, May 1st. This is a positive change from Donegal Group's previous quarterly dividend of $0.17. This represents a $0.70 annualized dividend and a dividend yield of 3.8%. Donegal Group's payout ratio is presently 32.20%.Get Donegal Group alerts:Analyst Ratings ChangesSeparately, Weiss Ratings restated a "hold (c)" rating on shares of Donegal Group in a report on Friday, March 27th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Hold".Get Our Latest Stock Analysis on DGICBDonegal Group Stock Down 0.5%The stock has a market cap of $686.94 million, a PE ratio of 9.06 and a beta of 0.04. 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 company has a 50 day moving average price of $16.72 and a two-hundred day moving average price of $16.42. Donegal Group (NASDAQ:DGICB - Get Free Report) last issued its quarterly earnings data on Thursday, February 19th. The insurance provider reported $0.46 earnings per share for the quarter. Donegal Group had a return on equity of 12.81% and a net margin of 8.11%.The firm had revenue of $241.87 million during the quarter. Institutional Trading of Donegal GroupA hedge fund recently bought a new stake in Donegal Group stock. Raymond James Financial Inc. acquired a new position in Donegal Group, Inc. (NASDAQ:DGICB - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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. About Donegal Group (Get Free Report)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.Featured StoriesFive stocks we like better than Donegal GroupThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Donegal Group Right Now?Before you consider Donegal Group, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Donegal Group wasn't on the list.While Donegal Group currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here