Donegal Group, Inc. (NASDAQ:DGICB) Sees Significant Increase in Short Interest

Donegal Group, Inc. (NASDAQ:DGICB) was the target of a large growth in short interest during 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 shares of the company are sold short. Based on an average trading volume of 1,933 shares, the short-interest ratio is currently 3.9 days.

Analysts Set New Price Targets

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

Donegal Group Stock Down 8.5%

Donegal Group stock opened at $22.87 on Tuesday. The firm has a market cap of $848.91 million, a price-to-earnings ratio of 13.30 and a beta of 0.01. Donegal Group has a 52 week low of $15.10 and a 52 week high of $29.99. The business’s 50-day moving average price is $21.31 and its 200 day moving average price is $19.72. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.05.

Donegal Group (NASDAQ:DGICB) last announced its quarterly earnings results on Thursday, October 29th. The insurance provider reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. The firm had revenue of $209.73 million for the quarter, compared to the consensus estimate of $214.12 million. Donegal Group had a net margin of 7.38% and a return on equity of 10.65%.

Donegal Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Monday, November 2nd will be given 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 dividend yield of 3.1%. Donegal Group’s dividend payout ratio (DPR) is 40.70%.

About Donegal Group

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.