Donegal Group (NASDAQ:DGICB) Shares Down 23.7% – Should You Sell?

Donegal Group, Inc. (NASDAQ:DGICB) shares were down 23.7% on Thursday . The stock traded as low as $19.25 and last traded at $18.0790. Approximately 424 shares changed hands during trading, a decline of 89% from the average daily volume of 3,703 shares. The stock had previously closed at $23.69.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Donegal Group in a research report on Friday, March 27th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Donegal Group presently has an average rating of “Hold”.

Donegal Group Stock Down 4.1%

The company has a debt-to-equity ratio of 0.05, a current ratio of 0.39 and a quick ratio of 0.39. The firm’s 50-day simple moving average is $18.77 and its two-hundred day simple moving average is $17.31. The company has a market capitalization of $668.20 million, a price-to-earnings ratio of 10.67 and a beta of 0.06.

Donegal Group (NASDAQ:DGICB) last issued its earnings results on Thursday, April 30th. The insurance provider reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.15). Donegal Group had a return on equity of 10.31% and a net margin of 6.77%.The company had revenue of $236.00 million for the quarter, compared to analyst estimates of $247.83 million.

Donegal Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were given a $0.175 dividend. This is a boost from Donegal Group’s previous quarterly dividend of $0.17. This represents a $0.70 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Friday, May 1st. Donegal Group’s dividend payout ratio (DPR) is currently 41.42%.

Institutional Trading of Donegal Group

A hedge fund recently bought a new stake in Donegal Group stock. Raymond James Financial Inc. purchased a new stake in Donegal Group, Inc. (NASDAQ:DGICB) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 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

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.