Donegal Group (NASDAQ:DGICB) Shares Down 23.7% – Should You Sell?

Donegal Group, Inc. (NASDAQ:DGICB)’s stock price fell 23.7% during trading on Thursday . The company traded as low as $19.25 and last traded at $18.0790. 424 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 3,703 shares. The stock had previously closed at $23.69.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Donegal Group in a report on Friday, March 27th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold”.

Donegal Group Stock Down 4.1%

The business’s fifty day moving average price is $18.77 and its 200 day moving average price is $17.31. 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 firm has a market capitalization of $668.20 million, a PE ratio of 10.67 and a beta of 0.06.

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

Donegal Group Increases Dividend

The company also recently declared 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 is an increase from Donegal Group’s previous quarterly dividend of $0.17. This represents a $0.70 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Friday, May 1st. Donegal Group’s dividend payout ratio is currently 41.42%.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Donegal Group stock. Lewis Asset Management LLC bought a new position in shares of Donegal Group, Inc. (NASDAQ:DGICB) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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.

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.