Donegal Group, Inc. (NASDAQ:DGICB) Short Interest Down 34.9% in April

Donegal Group, Inc. (NASDAQ:DGICB) was the recipient of a large drop in short interest in April. As of April 30th, there was short interest totaling 5,579 shares, a drop of 34.9% from the April 15th total of 8,567 shares. Currently, 0.0% of the company’s shares are short sold. Based on an average daily volume of 1,470 shares, the days-to-cover ratio is currently 3.8 days.

Donegal Group Trading Up 0.2%

NASDAQ:DGICB opened at $18.56 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.39 and a quick ratio of 0.39. Donegal Group has a fifty-two week low of $13.84 and a fifty-two week high of $20.46. The stock’s 50-day moving average is $17.76 and its two-hundred day moving average is $16.87. The stock has a market cap of $687.69 million, a PE ratio of 10.98 and a beta of 0.06.

Donegal Group (NASDAQ:DGICB) last released its earnings results 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 business had revenue of $236.00 million for the quarter, compared to analysts’ expectations of $247.83 million.

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 dividend of $0.175 per share. This is a boost from Donegal Group’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Friday, May 1st. This represents a $0.70 annualized dividend and a yield of 3.8%. Donegal Group’s dividend payout ratio (DPR) is presently 41.42%.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Donegal Group

A hedge fund recently bought a new stake in Donegal Group stock. Raymond James Financial Inc. bought a new stake in shares of Donegal Group, Inc. (NASDAQ:DGICB) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 5,231 shares of the insurance provider’s stock, valued at approximately $93,000. 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.