Donegal Group, Inc. (NASDAQ:DGICB) Stock Short Interest Climbs 60.2%

Donegal Group, Inc. (NASDAQ:DGICB) was the target of a large growth in short interest in the month of October. As of October 15th, there was short interest totaling 7,619 shares, a growth of 60.2% from the September 30th total of 4,756 shares. Currently, 0.0% of the company’s shares are short sold. Based on an average trading volume of 1,933 shares, the short-interest ratio is currently 3.9 days.

Donegal Group Stock Up 5.5%

DGICB stock opened at $24.13 on Wednesday. Donegal Group has a twelve month low of $15.10 and a twelve month high of $29.99. The stock has a market cap of $895.71 million, a P/E ratio of 13.37 and a beta of -0.10. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.05. The company’s 50 day moving average is $21.32 and its two-hundred day moving average is $19.76.

Donegal Group (NASDAQ:DGICB) last released its quarterly earnings data on Thursday, October 29th. The insurance provider reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.02. The company had revenue of $209.73 million during the quarter, compared to the consensus estimate of $214.12 million. Donegal Group had a net margin of 7.24% and a return on equity of 10.49%.

Donegal Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, November 2nd will be paid a dividend of $0.1750 per share. The ex-dividend date is Monday, November 2nd. This represents a $0.70 dividend on an annualized basis and a yield of 2.9%. Donegal Group’s dividend payout ratio is currently 40.70%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Donegal Group in a research note on Monday, September 21st. One investment analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Donegal Group Company Profile

Donegal Group Inc is an insurance holding company headquartered in Marietta, Pennsylvania. Established in 1986, the company operates through regional property and casualty insurance subsidiaries and is affiliated with Donegal Mutual Insurance Company.

Donegal Group provides a range of personal, commercial, and agricultural insurance products. Its offerings generally include private passenger automobile, homeowners, commercial automobile, commercial property, business liability, workers’ compensation, and farm insurance.

The company distributes its policies primarily through independent insurance agencies and serves policyholders across multiple states in the Mid-Atlantic, Midwestern, and Southern regions of the United States.