Donegal Group (NASDAQ:DGICB) Shares Down 8.5% – What’s Next?

Donegal Group, Inc. (NASDAQ:DGICB)’s stock price was down 8.5% during trading on Wednesday . The stock traded as low as $23.82 and last traded at $21.9590. Approximately 177 shares changed hands during mid-day trading, a decline of 95% from the average session volume of 3,747 shares. The stock had previously closed at $24.00.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Donegal Group in a report on Wednesday, June 24th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold”.

Donegal Group Stock Up 1.8%

The company has a market capitalization of $898.83 million, a P/E ratio of 14.36 and a beta of 0.04. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.39 and a current ratio of 0.39. The firm’s fifty day moving average is $20.09 and its 200-day moving average is $18.01.

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

Donegal Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were issued a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Friday, May 1st. This is a boost from Donegal Group’s previous quarterly dividend of $0.17. Donegal Group’s payout ratio is currently 41.42%.

Institutional Trading of Donegal Group

A hedge fund recently bought a new stake in Donegal Group stock. Raymond James Financial Inc. acquired a new position in Donegal Group, Inc. (NASDAQ:DGICB) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,231 shares of the insurance provider’s stock, valued at approximately $93,000. 1.19% of the stock is owned by institutional investors and hedge funds.

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.