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

Donegal Group, Inc. (NASDAQ:DGICB) gapped down prior to trading 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 traded.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Donegal Group in a research note on Friday, March 27th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, Donegal Group has a consensus rating of “Hold”.

Donegal Group Stock Down 3.6%

The company’s 50-day moving average is $18.56 and its 200 day moving average is $17.21. The company has a market capitalization of $683.76 million, a PE ratio of 10.92 and a beta of 0.06. 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 announced its quarterly earnings data on Thursday, April 30th. The insurance provider reported $0.30 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.15). Donegal Group had a net margin of 6.77% and a return on equity of 10.31%. The firm had revenue of $236.00 million for the quarter, compared to analysts’ expectations of $247.83 million.

Donegal Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were given a dividend of $0.175 per share. This is a positive change from Donegal Group’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Friday, May 1st. This represents a $0.70 annualized dividend and a yield of 3.8%. Donegal Group’s payout ratio is currently 41.42%.

Institutional Trading of Donegal Group

A hedge fund recently bought a new stake in Donegal Group stock. Raymond James Financial Inc. acquired a new stake in shares of Donegal Group, Inc. (NASDAQ:DGICB) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 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.

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.