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 $19.15, but opened at $17.92. Donegal Group shares last traded at $17.92, with a volume of 178 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Donegal Group in a research report on Friday, March 27th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold”.

Donegal Group Trading Down 2.7%

The company’s 50-day moving average is $18.32 and its 200-day moving average is $17.08. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.39 and a current ratio of 0.39. The firm has a market cap of $663.94 million, a price-to-earnings ratio of 10.60 and a beta of 0.06.

Donegal Group (NASDAQ:DGICB) last posted its quarterly earnings data on Thursday, April 30th. The insurance provider reported $0.30 earnings per share 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 company had revenue of $236.00 million during the quarter, compared to analyst estimates of $247.83 million.

Donegal Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were issued a $0.175 dividend. This is an increase from Donegal Group’s previous quarterly dividend of $0.17. This represents a $0.70 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Friday, May 1st. Donegal Group’s dividend payout ratio (DPR) is 41.42%.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Donegal Group stock. Lewis Asset Management LLC acquired a new stake in Donegal Group, Inc. (NASDAQ:DGICB) during the first quarter, according to its most recent filing with the SEC. The firm acquired 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.