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

Donegal Group, Inc. (NASDAQ:DGICB) gapped down prior to trading on Thursday . The stock had previously closed at $24.99, but opened at $22.98. Donegal Group shares last traded at $23.1790, with a volume of 169 shares changing hands.

Wall Street Analyst Weigh In

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

Donegal Group Stock Up 2.8%

The company has a market cap of $860.44 million, a PE ratio of 13.02 and a beta of 0.04. 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 business has a fifty day simple moving average of $23.68 and a two-hundred day simple moving average of $20.46.

Donegal Group (NASDAQ:DGICB) last released its quarterly earnings data on Thursday, July 30th. The insurance provider reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.07. Donegal Group had a net margin of 7.38% and a return on equity of 10.65%. The company had revenue of $232.25 million during the quarter, compared to the consensus estimate of $231.53 million.

Donegal Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were issued a dividend of $0.175 per share. The ex-dividend date was Friday, July 31st. This represents a $0.70 dividend on an annualized basis and a dividend yield of 3.0%. Donegal Group’s dividend payout ratio (DPR) is currently 39.33%.

Institutional Trading of Donegal Group

An institutional investor recently bought a new position in Donegal Group stock. Lewis Asset Management LLC bought a new position in shares of Donegal Group, Inc. (NASDAQ:DGICB) in the 1st quarter, according to the company in its most recent disclosure 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 and hedge funds 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 a network of regional insurance subsidiaries. The company distributes its products primarily through independent insurance agents and serves individuals, families, farms, and businesses.

Its offerings include personal automobile, homeowners, dwelling fire, farmowners, and other personal insurance products, as well as commercial automobile, commercial property, businessowners, workers’ compensation, and other commercial coverage.