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

Donegal Group, Inc. (NASDAQ:DGICB)’s share price gapped down before the market opened on Friday . The stock had previously closed at $21.90, but opened at $20.50. Donegal Group shares last traded at $20.5260, with a volume of 461 shares.

Wall Street Analysts Forecast Growth

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

Donegal Group Price Performance

The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.05. The firm has a market cap of $760.45 million, a price-to-earnings ratio of 12.14 and a beta of 0.04. The stock has a 50-day moving average of $21.33 and a two-hundred day moving average of $18.67.

Donegal Group (NASDAQ:DGICB) last announced its quarterly earnings results on Thursday, July 30th. The insurance provider reported $0.49 EPS for the quarter, topping the consensus estimate of $0.42 by $0.07. The company had revenue of $232.25 million for the quarter, compared to analyst estimates of $231.53 million. Donegal Group had a net margin of 6.77% and a return on equity of 10.31%.

Donegal Group Dividend Announcement

The company 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 $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Friday, July 31st. Donegal Group’s payout ratio is currently 41.42%.

Hedge Funds Weigh In On Donegal Group

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