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

Donegal Group, Inc. (NASDAQ:DGICB)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $24.00, but opened at $20.01. Donegal Group shares last traded at $22.6150, with a volume of 214 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Donegal Group in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Donegal Group presently has a consensus rating of “Hold”.

Donegal Group Trading Down 7.7%

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 business has a 50-day simple moving average of $19.46 and a two-hundred day simple moving average of $17.66. The stock has a market cap of $806.95 million, a price-to-earnings ratio of 12.89 and a beta of 0.06.

Donegal Group (NASDAQ:DGICB) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $247.83 million.

Donegal Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were paid a $0.175 dividend. This is a boost from Donegal Group’s previous quarterly dividend of $0.17. The ex-dividend date was Friday, May 1st. This represents a $0.70 dividend on an annualized basis and a yield of 3.2%. Donegal Group’s dividend payout ratio (DPR) is currently 41.42%.

Hedge Funds Weigh In On Donegal Group

A hedge fund recently bought a new position in Donegal Group stock. Raymond James Financial Inc. acquired a new stake in Donegal Group, Inc. (NASDAQ:DGICB) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 5,231 shares of the insurance provider’s stock, valued at approximately $93,000. 1.19% of the stock is owned by hedge funds and other institutional investors.

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.