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

Donegal Group, Inc. (NASDAQ:DGICB) gapped down before the market opened on Wednesday . The stock had previously closed at $19.15, but opened at $17.92. Donegal Group shares last traded at $17.92, with a volume of 178 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Donegal Group in a report on Friday, March 27th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Donegal Group presently has an average rating of “Hold”.

Donegal Group Price Performance

The firm has a market cap of $663.94 million, a price-to-earnings ratio of 10.60 and a beta of 0.06. The stock’s 50-day moving average price is $18.32 and its 200 day moving average price is $17.08. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.05.

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

Donegal Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were paid a $0.175 dividend. The ex-dividend date was Friday, May 1st. This is a positive change from Donegal Group’s previous quarterly dividend of $0.17. This represents a $0.70 dividend on an annualized basis and a dividend yield of 3.9%. Donegal Group’s dividend payout ratio is currently 41.42%.

Institutional Investors Weigh In On Donegal Group

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

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.