Donegal Group (NASDAQ:DGICB) Shares Gap Down – Should You Sell?

Shares of Donegal Group, Inc. (NASDAQ:DGICBGet Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $24.99, but opened at $22.98. Donegal Group shares last traded at $23.1790, with a volume of 169 shares.

Analyst Ratings Changes

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

Get Our Latest Stock Report on Donegal Group

Donegal Group Stock Up 2.8%

The company’s 50 day moving average is $23.68 and its 200 day moving average is $20.46. 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 company has a market cap of $860.44 million, a PE ratio of 13.02 and a beta of 0.04.

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

Donegal Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were paid a dividend of $0.175 per share. The ex-dividend date was Friday, July 31st. This represents a $0.70 dividend on an annualized basis and a dividend yield of 3.0%. Donegal Group’s dividend payout ratio (DPR) is currently 39.33%.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Donegal Group stock. Lewis Asset Management LLC purchased a new position in shares of Donegal Group, Inc. (NASDAQ:DGICBFree Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 11,469 shares of the insurance provider’s stock, valued at approximately $203,000. Institutional investors own 1.19% of the company’s stock.

About Donegal Group

(Get Free Report)

Donegal Group Inc is an insurance holding company that provides property and casualty insurance through a network of regional insurance subsidiaries. The company distributes its products primarily through independent insurance agents and serves individuals, families, farms, and businesses.

Its offerings include personal automobile, homeowners, dwelling fire, farmowners, and other personal insurance products, as well as commercial automobile, commercial property, businessowners, workers’ compensation, and other commercial coverage.

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