Donegal Group, Inc. (NASDAQ:DGICB) Shares Shorted: Short Interest Up 60.2% in October

Donegal Group, Inc. (NASDAQ:DGICB) saw a significant growth in short interest in October. As of October 15th, there was short interest totaling 7,619 shares, a growth of 60.2% from the September 30th total of 4,756 shares. Based on an average trading volume of 1,933 shares, the days-to-cover ratio is presently 3.9 days. Approximately 0.0% of the company’s shares are short sold.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Donegal Group in a research report on Monday, September 21st. One investment analyst has rated the stock with a Hold rating. According to MarketBeat, the stock currently has a consensus rating of “Hold”.

Donegal Group Stock Down 9.3%

DGICB traded down $2.33 during trading on Monday, hitting $22.66. The company had a trading volume of 1,423 shares, compared to its average volume of 4,440. The company has a market capitalization of $841.32 million, a PE ratio of 13.18 and a beta of -0.11. Donegal Group has a one year low of $15.10 and a one year high of $29.99. The firm’s 50-day moving average price is $21.35 and its 200 day moving average price is $19.69. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.05.

Donegal Group (NASDAQ:DGICB) last released its earnings results on Thursday, October 29th. The insurance provider reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. The firm had revenue of $209.73 million during the quarter, compared to analysts’ expectations of $214.12 million. Donegal Group had a return on equity of 10.49% and a net margin of 7.24%.

Donegal Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Monday, November 2nd will be given a dividend of $0.1750 per share. This represents a $0.70 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Monday, November 2nd. Donegal Group’s dividend payout ratio is currently 40.70%.

Donegal Group Company Profile

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.