Donegal Group (NASDAQ:DGICB) Shares Gap Down – What’s Next?

Donegal Group, Inc. (NASDAQ:DGICB) shares gapped down before the market opened on Tuesday. The stock had previously closed at $17.49, but opened at $16.77. Donegal Group shares last traded at $17.19, with a volume of 814 shares traded.

Analysts Set New Price Targets

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

Donegal Group Stock Performance

The firm’s fifty day simple moving average is $22.12 and its 200 day simple moving average is $20.68. The company has a market capitalization of $667.38 million, a PE ratio of 9.97 and a beta of 0.01. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.39 and a quick ratio of 0.39.

Donegal Group (NASDAQ:DGICB) last announced its quarterly earnings results on Thursday, July 30th. The insurance provider reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.07. The company had revenue of $232.25 million during the quarter, compared to analysts’ expectations of $231.53 million. Donegal Group had a return on equity of 10.65% and a net margin of 7.38%.

Donegal Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were paid a dividend of $0.1750 per share. This represents a $0.70 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Friday, July 31st. Donegal Group’s dividend payout ratio is presently 39.33%.

Hedge Funds Weigh In On Donegal Group

A hedge fund 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) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 11,469 shares of the insurance provider’s stock, valued at approximately $203,000. 1.19% of the stock is owned by institutional investors and hedge funds.

About Donegal Group

Donegal Group Inc is an insurance holding company that provides property and casualty insurance through its insurance subsidiaries. The company primarily serves individuals, families, farmers, and businesses through a network of independent insurance agents.

Its products generally include personal automobile, homeowners, farmowners, and other personal insurance policies, along with commercial automobile, commercial property, businessowners, workers’ compensation, and related commercial coverage.