Donegal Group (NASDAQ:DGICB) Trading Down 8.1% – Here’s Why

Shares of Donegal Group, Inc. (NASDAQ:DGICB) fell 8.1% during mid-day trading on Wednesday . The company traded as low as $27.00 and last traded at $24.0250. 184 shares changed hands during trading, a decline of 95% from the average daily volume of 3,634 shares. The stock had previously closed at $26.15.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated 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, Based on data from MarketBeat, the company presently has an average rating of “Hold”.

Donegal Group Stock Performance

The stock has a market cap of $909.02 million, a P/E ratio of 14.52 and a beta of 0.04. 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 simple moving average is $20.50 and its two-hundred day simple moving average is $18.21.

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). The firm had revenue of $236.00 million for the quarter, compared to the consensus estimate of $247.83 million. Donegal Group had a return on equity of 10.31% and a net margin of 6.77%.

Donegal Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were given a $0.175 dividend. The ex-dividend date of this dividend was Friday, May 1st. This represents a $0.70 dividend on an annualized basis and a yield of 2.9%. This is a boost from Donegal Group’s previous quarterly dividend of $0.17. Donegal Group’s payout ratio is 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. acquired a new stake in Donegal Group, Inc. (NASDAQ:DGICB) during the second quarter, according to its most recent filing with the Securities & 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.