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

Donegal Group, Inc. (NASDAQ:DGICB) was the recipient of a significant decline in short interest during the month of April. As of April 30th, there was short interest totaling 5,579 shares, a decline of 34.9% from the April 15th total of 8,567 shares. Currently, 0.0% of the company’s stock are sold short. Based on an average trading volume of 1,470 shares, the days-to-cover ratio is presently 3.8 days.

Hedge Funds Weigh In On Donegal Group

A hedge fund recently bought a new stake in Donegal Group stock. Raymond James Financial Inc. purchased a new position in Donegal Group, Inc. (NASDAQ:DGICB) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 5,231 shares of the insurance provider’s stock, valued at approximately $93,000. 1.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed 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 data from MarketBeat.com, the stock has an average rating of “Hold”.

Donegal Group Price Performance

Shares of NASDAQ DGICB traded down $0.80 during mid-day trading on Monday, reaching $18.37. 224 shares of the company were exchanged, compared to its average volume of 3,712. Donegal Group has a 52 week low of $13.84 and a 52 week high of $20.46. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.05. The company’s 50 day moving average price is $17.66 and its 200 day moving average price is $16.83. The stock has a market capitalization of $680.50 million, a PE ratio of 10.89 and a beta of 0.06.

Donegal Group (NASDAQ:DGICB) last posted its quarterly earnings data 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 return on equity of 10.31% and a net margin of 6.77%.The business had revenue of $236.00 million during the quarter, compared to analysts’ expectations of $247.83 million.

Donegal Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors 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. The ex-dividend date was Friday, May 1st. This represents a $0.70 annualized dividend and a yield of 3.8%. Donegal Group’s payout ratio is presently 41.42%.

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.