Donegal Group (NASDAQ:DGICB) Shares Gap Down – What’s Next?

Shares of Donegal Group, Inc. (NASDAQ:DGICB) gapped down prior to trading on Thursday . The stock had previously closed at $19.40, but opened at $17.97. Donegal Group shares last traded at $18.19, with a volume of 562 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Donegal Group in a research report on Monday. 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 has a 50 day simple moving average of $23.08 and a 200 day simple moving average of $20.57. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.05. The stock has a market cap of $675.19 million, a P/E ratio of 10.22 and a beta of 0.04.

Donegal Group (NASDAQ:DGICB) last released its earnings results on Thursday, July 30th. The insurance provider reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates 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 business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were paid a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Friday, July 31st. Donegal Group’s payout ratio is 39.33%.

Institutional Investors Weigh In On Donegal Group

An institutional investor recently bought a new stake in Donegal Group stock. Lewis Asset Management LLC bought a new stake in Donegal Group, Inc. (NASDAQ:DGICB) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm bought 11,469 shares of the insurance provider’s stock, valued at approximately $203,000. 1.19% of the stock is owned by institutional investors.

About Donegal Group

Donegal Group Inc is an insurance holding company that provides property and casualty insurance through a network of regional insurance subsidiaries. The company distributes its products primarily through independent insurance agents and serves individuals, families, farms, and businesses.

Its offerings include personal automobile, homeowners, dwelling fire, farmowners, and other personal insurance products, as well as commercial automobile, commercial property, businessowners, workers’ compensation, and other commercial coverage.