Donegal Group, Inc. (NASDAQ:DGICB) Short Interest Update

Donegal Group, Inc. (NASDAQ:DGICB) was the target of a large drop in short interest during the month of 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. Approximately 0.0% of the company’s shares are short sold. Based on an average trading volume of 1,470 shares, the short-interest ratio is currently 3.8 days.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Donegal Group stock. Raymond James Financial Inc. acquired a new stake in shares of Donegal Group, Inc. (NASDAQ:DGICB) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,231 shares of the insurance provider’s stock, valued at approximately $93,000. Institutional investors own 1.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Donegal Group in a report on Friday, March 27th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of “Hold”.

Donegal Group Trading Down 3.4%

Shares of DGICB opened at $18.52 on Tuesday. The firm’s 50-day moving average price is $17.71 and its 200-day moving average price is $16.85. The firm has a market capitalization of $686.17 million, a price-to-earnings ratio of 10.96 and a beta of 0.06. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.05. Donegal Group has a 1-year low of $13.84 and a 1-year high of $20.46.

Donegal Group (NASDAQ:DGICB) last issued its quarterly earnings results on Thursday, April 30th. The insurance provider reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were given a dividend of $0.175 per share. This is an increase 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 dividend on an annualized basis and a yield of 3.8%. Donegal Group’s dividend payout ratio is 41.42%.

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.