Donegal Group Inc. (NASDAQ:DGICA) declared a quarterly dividend on Thursday, July 16th, Zacks reports. Shareholders of record on Monday, August 3rd will be paid a dividend of 0.15 per share by the insurance provider on Monday, August 17th. This represents a $0.60 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date is Friday, July 31st.
Donegal Group has increased its dividend payment by an average of 5.5% per year over the last three years and has increased its dividend every year for the last 4 years. Donegal Group has a payout ratio of 45.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Donegal Group to earn $1.00 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 60.0%.
NASDAQ:DGICA traded up $0.06 during midday trading on Wednesday, reaching $14.08. 24 shares of the stock traded hands, compared to its average volume of 21,250. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.47 and a current ratio of 0.47. Donegal Group has a 12-month low of $11.22 and a 12-month high of $16.19. The stock has a market capitalization of $407.58 million, a PE ratio of 8.78 and a beta of 0.07. The business has a 50-day moving average of $13.76 and a two-hundred day moving average of $14.12.
A number of equities analysts have commented on DGICA shares. ValuEngine downgraded shares of Donegal Group from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 23rd. Zacks Investment Research cut shares of Donegal Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 30th. Finally, BidaskClub downgraded shares of Donegal Group from a “hold” rating to a “sell” rating in a research note on Thursday, June 4th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company’s stock. Donegal Group has an average rating of “Hold” and a consensus target price of $16.50.
In other Donegal Group news, VP Vincent Anthony Viozzi sold 7,316 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $14.95, for a total value of $109,374.20. Following the transaction, the vice president now directly owns 6,803 shares of the company’s stock, valued at approximately $101,704.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 9.30% of the stock is owned by corporate insiders.
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, Commercial Lines of Insurance, and Investment in DFSC.
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