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

Donegal Group, Inc. (NASDAQ:DGICB) shares gapped down prior to trading on Monday . The stock had previously closed at $24.00, but opened at $20.01. Donegal Group shares last traded at $22.6150, with a volume of 214 shares trading hands.

Analyst Upgrades and Downgrades

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

Donegal Group Stock Performance

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 has a market cap of $859.78 million, a PE ratio of 13.73 and a beta of 0.06. The stock’s 50 day simple moving average is $19.30 and its two-hundred day simple moving average is $17.58.

Donegal Group (NASDAQ:DGICB) last released its quarterly earnings data 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 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 analyst estimates of $247.83 million.

Donegal Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were issued a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Friday, May 1st. This is an increase from Donegal Group’s previous quarterly dividend of $0.17. Donegal Group’s dividend payout ratio (DPR) is 41.42%.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Donegal Group stock. Lewis Asset Management LLC purchased a new stake in shares of Donegal Group, Inc. (NASDAQ:DGICB) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 11,469 shares of the insurance provider’s stock, valued at approximately $203,000. 1.19% of the stock is currently owned by hedge funds and other institutional investors.

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.