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

Donegal Group, Inc. (NASDAQ:DGICB)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $23.69, but opened at $21.20. Donegal Group shares last traded at $19.1790, with a volume of 14,421 shares.

Wall Street Analysts Forecast Growth

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

Donegal Group Stock Down 18.2%

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 firm has a 50 day simple moving average of $18.75 and a 200-day simple moving average of $17.30. The stock has a market capitalization of $717.84 million, a price-to-earnings ratio of 11.46 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 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 return on equity of 10.31% and a net margin of 6.77%.

Donegal Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were issued a dividend of $0.175 per share. The ex-dividend date was Friday, May 1st. This is a boost from Donegal Group’s previous quarterly dividend of $0.17. This represents a $0.70 annualized dividend and a dividend yield of 3.6%. Donegal Group’s dividend payout ratio (DPR) is currently 41.42%.

Institutional Trading of Donegal Group

An institutional investor recently bought a new position in Donegal Group stock. Lewis Asset Management LLC bought a new position in shares of Donegal Group, Inc. (NASDAQ:DGICB) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,469 shares of the insurance provider’s stock, valued at approximately $203,000. Institutional investors and hedge funds 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.