Donegal Group (NASDAQ:DGICB) Stock Price Down 8.5% – Time to Sell?

Donegal Group, Inc. (NASDAQ:DGICB) fell 8.5% during trading on Wednesday . The company traded as low as $23.82 and last traded at $21.9590. Approximately 177 shares traded hands during trading, a decline of 95% from the average daily volume of 3,747 shares. The stock had previously closed at $24.00.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Donegal Group in a report on Wednesday, June 24th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold”.

Donegal Group Stock Up 0.2%

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 business has a 50 day simple moving average of $19.92 and a 200 day simple moving average of $17.91. The stock has a market cap of $889.39 million, a PE ratio of 14.20 and a beta of 0.04.

Donegal Group (NASDAQ:DGICB) last posted its quarterly earnings results on Thursday, April 30th. The insurance provider reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.15). The firm had revenue of $236.00 million for the quarter, compared to analysts’ expectations 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. Shareholders of record on Friday, May 1st were paid a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 2.9%. This is a boost from Donegal Group’s previous quarterly dividend of $0.17. The ex-dividend date was Friday, May 1st. Donegal Group’s dividend payout ratio is presently 41.42%.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Donegal Group stock. Lewis Asset Management LLC purchased a new stake in shares of Donegal Group, Inc. (NASDAQ:DGICB) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 11,469 shares of the insurance provider’s stock, valued at approximately $203,000. 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.