Donegal Group (NASDAQ:DGICB) Shares Down 8.5% – Time to Sell?

Donegal Group, Inc. (NASDAQ:DGICB)’s share price fell 8.5% during trading on Wednesday . The stock traded as low as $23.82 and last traded at $21.9590. Approximately 177 shares changed hands during trading, a decline of 95% from the average session volume of 3,747 shares. The stock had previously closed at $24.00.

Analysts Set New Price Targets

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

Donegal Group Price Performance

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 stock’s 50 day moving average price is $19.92 and its two-hundred day moving average price is $17.91. The firm has a market capitalization of $889.39 million, a price-to-earnings ratio of 14.20 and a beta of 0.04.

Donegal Group (NASDAQ:DGICB) last posted 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). The firm had revenue of $236.00 million during the quarter, compared to analyst estimates 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 company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were issued a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 2.9%. This is a positive change from Donegal Group’s previous quarterly dividend of $0.17. The ex-dividend date was Friday, May 1st. 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. Lewis Asset Management LLC bought a new stake in shares of Donegal Group, Inc. (NASDAQ:DGICB) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 11,469 shares of the insurance provider’s stock, valued at approximately $203,000. 1.19% of the stock is currently owned by 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.