Donegal Group (NASDAQ:DGICB) Stock Price Down 7.1% – What’s Next?

Donegal Group, Inc. (NASDAQ:DGICB) dropped 7.1% during trading on Wednesday. The stock traded as low as $23.99 and last traded at $23.7450. 3,102 shares changed hands during trading, a decline of 30% from the average session volume of 4,431 shares. The stock had previously closed at $25.56.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Donegal Group in a report on Monday, September 21st. One analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, Donegal Group has an average rating of “Hold”.

Donegal Group Trading Down 11.6%

The firm’s 50 day moving average price is $21.32 and its 200 day moving average price is $19.65. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.39 and a quick ratio of 0.39. The stock has a market capitalization of $850.34 million, a P/E ratio of 14.97 and a beta of 0.01.

Donegal Group (NASDAQ:DGICB) last announced its earnings results on Thursday, October 29th. The insurance provider reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. Donegal Group had a return on equity of 10.65% and a net margin of 7.38%. The business had revenue of $209.73 million for the quarter, compared to analyst estimates of $214.12 million.

Donegal Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, November 2nd will be issued a dividend of $0.1750 per share. The ex-dividend date is Monday, November 2nd. This represents a $0.70 dividend on an annualized basis and a yield of 3.1%. Donegal Group’s dividend payout ratio (DPR) is presently 39.33%.

About Donegal Group

Donegal Group Inc is an insurance holding company headquartered in Marietta, Pennsylvania. Established in 1986, the company operates through regional property and casualty insurance subsidiaries and is affiliated with Donegal Mutual Insurance Company.

Donegal Group provides a range of personal, commercial, and agricultural insurance products. Its offerings generally include private passenger automobile, homeowners, commercial automobile, commercial property, business liability, workers’ compensation, and farm insurance.

The company distributes its policies primarily through independent insurance agencies and serves policyholders across multiple states in the Mid-Atlantic, Midwestern, and Southern regions of the United States.