Donegal Group (NASDAQ:DGICB) Shares Gap Down – What’s Next?

Shares of Donegal Group, Inc. (NASDAQ:DGICB – Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $24.01, but opened at $23.01. Donegal Group shares last traded at $23.0790, with a volume of 383 shares.

Wall Street Analysts Forecast Growth

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

Get Donegal Group alerts:

Get Our Latest Stock Report on Donegal Group

Donegal Group Stock Down 3.9%

The company’s 50-day simple moving average is $22.07 and its two-hundred day simple moving average is $19.01. The firm has a market capitalization of $855.08 million, a P/E ratio of 12.97 and a beta of 0.03. 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 (NASDAQ:DGICB – Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The insurance provider reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.07. The firm had revenue of $232.25 million during the quarter, compared to the consensus estimate of $231.53 million. Donegal Group had a net margin of 7.38% and a return on equity of 10.65%.

Donegal Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be issued a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Friday, July 31st. Donegal Group’s dividend payout ratio is currently 39.33%.

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 – Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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.

About Donegal Group

(Get Free Report)

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.

Featured Articles

• Five stocks we like better than Donegal Group
• Legacy Jet Builders Stall While Embraer Accelerates to New Highs
• Intel’s Rally Gave It a $20 Billion Opportunity and Now Comes the Hard Part
• Visa’s AI Opportunity Is Hiding in Every Transaction
• On Holding’s Price Stumble May Be an Opening for a Company Built to Run

Receive News & Ratings for Donegal Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Donegal Group and related companies with MarketBeat.com's FREE daily email newsletter.