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 $19.15, but opened at $17.92. Donegal Group shares last traded at $17.92, with a volume of 178 shares trading hands.

Analysts Set New Price Targets

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

Donegal Group Price Performance

The firm has a market cap of $709.51 million, a PE ratio of 11.33 and a beta of 0.06. The firm has a fifty day simple moving average of $18.42 and a two-hundred day simple moving average of $17.13. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.39 and a current ratio of 0.39.

Donegal Group (NASDAQ:DGICB) last released its quarterly earnings results on Thursday, April 30th. The insurance provider reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.15). The firm had revenue of $236.00 million for the quarter, compared to analysts’ expectations of $247.83 million. Donegal Group had a net margin of 6.77% and a return on equity of 10.31%.

Donegal Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were paid a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was 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 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. acquired a new stake in Donegal Group, Inc. (NASDAQ:DGICB) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 5,231 shares of the insurance provider’s stock, valued at approximately $93,000. Institutional investors own 1.19% of the company’s stock.

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.