Donegal Group (NASDAQ:DGICB) Shares Gap Down – Should You Sell?

Donegal Group, Inc. (NASDAQ:DGICB)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $19.16, but opened at $17.59. Donegal Group shares last traded at $18.2250, with a volume of 872 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Donegal Group in a research report on Friday, March 27th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Donegal Group Price Performance

The firm’s 50-day moving average is $17.51 and its 200-day moving average is $16.76. 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 company has a market capitalization of $718.17 million, a P/E ratio of 11.49 and a beta of 0.06.

Donegal Group (NASDAQ:DGICB) last announced its earnings results on Thursday, April 30th. The insurance provider reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.15). The business had revenue of $236.00 million for the quarter, compared to the consensus estimate 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 business also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Friday, May 1st will be given a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 3.6%. This is a boost from Donegal Group’s previous quarterly dividend of $0.17. The ex-dividend date is Friday, May 1st. Donegal Group’s dividend payout ratio (DPR) is presently 41.42%.

Hedge Funds Weigh In On Donegal Group

An institutional investor recently bought a new position in Donegal Group stock. Raymond James Financial Inc. bought a new position in shares of Donegal Group, Inc. (NASDAQ:DGICB) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 5,231 shares of the insurance provider’s stock, valued at approximately $93,000. Hedge funds and other 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.