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

Donegal Group, Inc. (NASDAQ:DGICB) shares gapped down before the market opened on Thursday . The stock had previously closed at $19.15, but opened at $18.22. Donegal Group shares last traded at $18.4550, with a volume of 454 shares changing hands.

Analyst Ratings Changes

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

Donegal Group Price Performance

The firm has a market capitalization of $677.05 million, a P/E ratio of 10.81 and a beta of 0.06. 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 company’s 50 day moving average price is $18.60 and its 200 day moving average price is $17.23.

Donegal Group (NASDAQ:DGICB) last announced its quarterly earnings data on Thursday, April 30th. The insurance provider reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.15). Donegal Group had a net margin of 6.77% and a return on equity of 10.31%. The business had revenue of $236.00 million during the quarter, compared to the consensus estimate of $247.83 million.

Donegal Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were paid a $0.175 dividend. The ex-dividend date of this dividend was Friday, May 1st. This is a boost from Donegal Group’s previous quarterly dividend of $0.17. This represents a $0.70 dividend on an annualized basis and a yield of 3.8%. Donegal Group’s payout ratio is 41.42%.

Hedge Funds Weigh In On Donegal Group

A hedge fund recently bought a new stake in Donegal Group stock. Raymond James Financial Inc. purchased a new position in shares of Donegal Group, Inc. (NASDAQ:DGICB) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,231 shares of the insurance provider’s stock, valued at approximately $93,000. 1.19% of the stock is currently owned by hedge funds and other institutional investors.

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.