Donegal Group (NASDAQ:DGICB) Shares Gap Down – Should You Sell?

Donegal Group, Inc. (NASDAQ:DGICB) gapped down before the market opened on Wednesday . The stock had previously closed at $19.16, but opened at $17.59. Donegal Group shares last traded at $18.2250, with a volume of 872 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Donegal Group in a research note on Friday, March 27th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Donegal Group currently has a consensus rating of “Hold”.

Donegal Group Price Performance

The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.05. The firm has a market cap of $718.17 million, a PE ratio of 11.49 and a beta of 0.06. The stock has a 50 day simple moving average of $17.51 and a 200-day simple moving average of $16.76.

Donegal Group (NASDAQ:DGICB) last issued its quarterly earnings results on Thursday, April 30th. The insurance provider reported $0.30 earnings per share (EPS) 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 business had revenue of $236.00 million during the quarter, compared to analysts’ expectations of $247.83 million.

Donegal Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Friday, May 1st will be paid a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 3.6%. The ex-dividend date is Friday, May 1st. This is a positive change from Donegal Group’s previous quarterly dividend of $0.17. Donegal Group’s dividend payout ratio is currently 41.42%.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Donegal Group stock. Raymond James Financial Inc. purchased a new position in Donegal Group, Inc. (NASDAQ:DGICB) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,231 shares of the insurance provider’s stock, valued at approximately $93,000. Institutional investors own 1.19% of the company’s stock.

About Donegal Group

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.