Donegal Group (NASDAQ:DGICB) Trading Down 8.1% – Time to Sell?

Donegal Group, Inc. (NASDAQ:DGICB)’s share price traded down 8.1% on Wednesday . The company traded as low as $27.00 and last traded at $24.0250. 184 shares were traded during mid-day trading, a decline of 95% from the average daily volume of 3,634 shares. The stock had previously closed at $26.15.

Analyst Upgrades and Downgrades

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

Donegal Group Stock Performance

The company has a market capitalization of $862.52 million, a P/E ratio of 13.78 and a beta of 0.04. The stock’s fifty day moving average price is $20.73 and its 200-day moving average price is $18.34. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.39 and a current ratio of 0.39.

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

Donegal Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be paid a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Friday, July 31st. Donegal Group’s payout ratio is currently 41.42%.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Donegal Group stock. Raymond James Financial Inc. purchased a new stake in shares of Donegal Group, Inc. (NASDAQ:DGICB) in the 2nd quarter, according to the company in its most recent disclosure with the 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 institutional investors and hedge funds.

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.