Donegal Group (NASDAQ:DGICB) Shares Gap Down – Should You Sell?

Donegal Group, Inc. (NASDAQ:DGICB) gapped down prior to trading on Thursday. The stock had previously closed at $25.56, but opened at $23.70. Donegal Group shares last traded at $24.38, with a volume of 3,728 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed 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. Based on data from MarketBeat.com, Donegal Group presently has a consensus rating of “Hold”.

Donegal Group Trading Up 5.4%

The business’s 50-day moving average price is $21.35 and its two-hundred day moving average price is $19.69. 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 has a market capitalization of $927.60 million, a price-to-earnings ratio of 14.53 and a beta of 0.01.

Donegal Group (NASDAQ:DGICB) last posted its earnings results on Thursday, October 29th. The insurance provider reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.02. The firm had revenue of $209.73 million for the quarter, compared to analysts’ expectations of $214.12 million. Donegal Group had a return on equity of 10.49% and a net margin of 7.24%.

Donegal Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Monday, November 2nd will be paid a dividend of $0.1750 per share. This represents a $0.70 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Monday, November 2nd. Donegal Group’s dividend payout ratio (DPR) is currently 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.