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

Donegal Group, Inc. (NASDAQ:DGICB)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $21.90, but opened at $20.50. Donegal Group shares last traded at $20.5260, with a volume of 461 shares trading hands.

Wall Street Analyst Weigh In

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

Donegal Group Stock Performance

The company has a market capitalization of $769.01 million, a PE ratio of 11.66 and a beta of 0.04. The stock’s fifty day simple moving average is $21.36 and its 200-day simple moving average is $18.69. 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 issued its quarterly earnings results on Thursday, July 30th. The insurance provider reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.07. The business had revenue of $232.25 million during the quarter, compared to the consensus estimate of $231.53 million. Donegal Group had a net margin of 7.38% and a return on equity of 10.77%.

Donegal Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be given a dividend of $0.175 per share. The ex-dividend date is Friday, July 31st. This represents a $0.70 dividend on an annualized basis and a yield of 3.4%. Donegal Group’s dividend payout ratio (DPR) is 41.42%.

Institutional Trading of Donegal Group

An institutional investor recently bought a new position in Donegal Group stock. Raymond James Financial Inc. purchased a new position in shares of Donegal Group, Inc. (NASDAQ:DGICB) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 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.