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

Donegal Group, Inc. (NASDAQ:DGICB)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $24.64, but opened at $23.17. Donegal Group shares last traded at $23.8450, with a volume of 208 shares trading hands.

Wall Street Analyst Weigh In

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

Donegal Group Stock Performance

The stock has a market capitalization of $885.13 million, a price-to-earnings ratio of 13.40 and a beta of 0.03. The company’s fifty day simple moving average is $23.17 and its 200 day simple moving average is $19.62. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.05.

Donegal Group (NASDAQ:DGICB) last posted its earnings results on Thursday, July 30th. The insurance provider reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.07. The company had revenue of $232.25 million during the quarter, compared to analysts’ expectations of $231.53 million. Donegal Group had a net margin of 7.38% and a return on equity of 10.65%.

Donegal Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were given a dividend of $0.175 per share. The ex-dividend date was Friday, July 31st. This represents a $0.70 annualized dividend and a yield of 2.9%. Donegal Group’s dividend payout ratio (DPR) is 39.33%.

Hedge Funds Weigh In On Donegal Group

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

Donegal Group Company Profile

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.