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

Shares of Donegal Group, Inc. (NASDAQ:DGICB) gapped down before the market opened on Wednesday . The stock had previously closed at $23.69, but opened at $21.20. Donegal Group shares last traded at $19.1790, with a volume of 14,421 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Donegal Group in a report on Friday, March 27th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of “Hold”.

Donegal Group Trading Down 18.2%

The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.39 and a current ratio of 0.39. The company has a market capitalization of $717.84 million, a price-to-earnings ratio of 11.46 and a beta of 0.06. The business’s 50-day simple moving average is $18.75 and its 200-day simple moving average is $17.30.

Donegal Group (NASDAQ:DGICB) last released its 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 net margin of 6.77% and a return on equity of 10.31%. The business had revenue of $236.00 million for the quarter, compared to analyst estimates of $247.83 million.

Donegal Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were given a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Friday, May 1st. This is a boost from Donegal Group’s previous quarterly dividend of $0.17. Donegal Group’s dividend payout ratio is currently 41.42%.

Hedge Funds Weigh In On Donegal Group

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

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.