Donegal Group (NASDAQ:DGICB) Shares Down 4.4% – Here’s What Happened

Donegal Group, Inc. (NASDAQ:DGICB) dropped 4.4% during trading on Wednesday. The stock traded as low as $27.20 and last traded at $26.1520. Approximately 447 shares traded hands during trading, a decline of 90% from the average session volume of 4,341 shares. The stock had previously closed at $27.35.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated 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 data from MarketBeat, the company presently has a consensus rating of “Hold”.

Donegal Group Price Performance

The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.39 and a current ratio of 0.40. The business has a 50 day simple moving average of $21.49 and a 200-day simple moving average of $19.98. The firm has a market cap of $972.54 million, a price-to-earnings ratio of 15.23 and a beta of -0.10.

Donegal Group (NASDAQ:DGICB) last released its quarterly earnings results on Thursday, October 29th. The insurance provider reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. Donegal Group had a return on equity of 10.45% and a net margin of 7.24%. The business had revenue of $209.73 million during the quarter, compared to analyst estimates of $214.12 million.

Donegal Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Monday, November 2nd will be issued a $0.1750 dividend. The ex-dividend date of this dividend is Monday, November 2nd. This represents a $0.70 annualized dividend and a dividend yield of 2.7%. Donegal Group’s dividend payout ratio is currently 40.70%.

About Donegal Group

Donegal Group is an insurance holding company based in Marietta, Pennsylvania. Through its property and casualty insurance subsidiaries, it provides coverage to individuals and businesses, primarily through a network of independent insurance agencies. The company’s products include personal auto and homeowners insurance, as well as commercial auto, workers’ compensation and other business insurance. Its operations serve customers across multiple states, with a regional focus in the eastern United States.