Donegal Group (NASDAQ:DGICB) Shares Down 12% – Time to Sell?

Donegal Group, Inc. (NASDAQ:DGICB)’s stock price fell 12% on Thursday . The stock traded as low as $20.85 and last traded at $20.23. Approximately 99,678 shares traded hands during trading, an increase of 2,188% from the average session volume of 4,356 shares. The stock had previously closed at $22.98.

Wall Street Analyst Weigh In

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

Donegal Group Trading Up 3.8%

The business’s 50-day moving average price is $21.10 and its two-hundred day moving average price is $18.54. The company has a market capitalization of $780.12 million, a P/E ratio of 12.46 and a beta of 0.04. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.39 and a quick ratio of 0.39.

Donegal Group (NASDAQ:DGICB) last released its quarterly earnings data on Thursday, April 30th. The insurance provider reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.15). The firm had revenue of $236.00 million during the quarter, compared to the consensus estimate of $247.83 million. Donegal Group had a net margin of 6.77% and a return on equity of 10.31%.

Donegal Group Announces Dividend

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 paid a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Friday, July 31st. Donegal Group’s payout ratio is presently 41.42%.

Institutional Investors Weigh In On 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) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 5,231 shares of the insurance provider’s stock, valued at approximately $93,000. Institutional investors and hedge funds 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.