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

Shares of Donegal Group, Inc. (NASDAQ:DGICB) gapped down before the market opened 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 traded.

Wall Street Analysts Forecast Growth

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, Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

Donegal Group Stock Performance

The stock’s 50-day moving average price is $22.26 and its 200-day moving average price is $19.12. The company has a market capitalization of $907.35 million, a price-to-earnings ratio of 13.76 and a beta of 0.03. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.39 and a current ratio of 0.39.

Donegal Group (NASDAQ:DGICB) last released its quarterly earnings data on Thursday, July 30th. The insurance provider reported $0.49 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 10.65% and a net margin of 7.38%.

Donegal Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be given a dividend of $0.175 per share. The ex-dividend date is Friday, July 31st. This represents a $0.70 dividend on an annualized basis and a yield of 2.9%. Donegal Group’s payout ratio is presently 39.33%.

Institutional Trading of Donegal Group

An institutional investor recently bought a new stake in Donegal Group stock. Raymond James Financial Inc. acquired a new position in shares of Donegal Group, Inc. (NASDAQ:DGICB) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 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.