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

Shares of Donegal Group, Inc. (NASDAQ:DGICB) gapped down before the market opened on Thursday . The stock had previously closed at $19.15, but opened at $18.22. Donegal Group shares last traded at $18.4550, with a volume of 454 shares trading hands.

Analyst Upgrades and Downgrades

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

Donegal Group Stock Performance

The business’s fifty day moving average price is $18.56 and its 200-day moving average price is $17.21. 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 stock has a market cap of $683.76 million, a PE ratio of 10.92 and a beta of 0.06.

Donegal Group (NASDAQ:DGICB) last announced its quarterly 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 company had revenue of $236.00 million for the quarter, compared to analysts’ expectations 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were issued a $0.175 dividend. The ex-dividend date of this dividend was Friday, May 1st. This is a positive change from Donegal Group’s previous quarterly dividend of $0.17. This represents a $0.70 dividend on an annualized basis and a dividend yield of 3.8%. 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. Lewis Asset Management LLC acquired a new position in Donegal Group, Inc. (NASDAQ:DGICB) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 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 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.