Donegal Group (NASDAQ:DGICB) Shares Gap Down – Here’s Why

Donegal Group, Inc. (NASDAQ:DGICB)’s stock price gapped down prior to trading on Tuesday. The stock had previously closed at $17.49, but opened at $16.77. Donegal Group shares last traded at $17.19, with a volume of 814 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Donegal Group in a research report on Monday, September 21st. One analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold”.

Donegal Group Trading Down 0.1%

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 firm has a 50-day moving average price of $22.29 and a 200-day moving average price of $20.65. The company has a market capitalization of $648.45 million, a price-to-earnings ratio of 9.81 and a beta of 0.01.

Donegal Group (NASDAQ:DGICB) last announced its earnings results 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 business had revenue of $232.25 million during the quarter, compared to analysts’ expectations 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 disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were paid a $0.1750 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a $0.70 annualized dividend and a dividend yield of 4.0%. Donegal Group’s payout ratio is currently 39.33%.

Institutional Trading of Donegal Group

An institutional investor recently bought a new stake in Donegal Group stock. Lewis Asset Management LLC bought a new position in shares of Donegal Group, Inc. (NASDAQ:DGICB) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 11,469 shares of the insurance provider’s stock, valued at approximately $203,000. Institutional investors own 1.19% of the company’s stock.

Donegal Group Company Profile

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

Its products generally include personal automobile, homeowners, farmowners, and other personal insurance policies, along with commercial automobile, commercial property, businessowners, workers’ compensation, and related commercial coverage.