Donegal Group, Inc. (NASDAQ:DGICB) Sees Significant Decrease in Short Interest

Donegal Group, Inc. (NASDAQ:DGICB) was the target of a large decline in short interest in April. As of April 30th, there was short interest totaling 5,579 shares, a decline of 34.9% from the April 15th total of 8,567 shares. Approximately 0.0% of the shares of the stock are short sold. Based on an average trading volume of 1,470 shares, the days-to-cover ratio is presently 3.8 days.

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) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 5,231 shares of the insurance provider’s stock, valued at approximately $93,000. Hedge funds and other institutional investors own 1.19% of the company’s stock.

Donegal Group Trading Down 4.2%

Shares of NASDAQ:DGICB traded down $0.80 during trading on Monday, reaching $18.37. 224 shares of the company traded hands, compared to its average volume of 3,712. Donegal Group has a 52-week low of $13.84 and a 52-week high of $20.46. The business’s fifty day moving average is $17.66 and its 200-day moving average is $16.83. 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 firm has a market capitalization of $680.50 million, a price-to-earnings ratio of 10.89 and a beta of 0.06.

Donegal Group (NASDAQ:DGICB) last issued 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 business had revenue of $236.00 million during the quarter, compared to analysts’ expectations 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 business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were paid a $0.175 dividend. The ex-dividend date of this dividend was Friday, May 1st. This represents a $0.70 dividend on an annualized basis and a yield of 3.8%. This is a boost from Donegal Group’s previous quarterly dividend of $0.17. Donegal Group’s dividend payout ratio is 41.42%.

Wall Street Analyst Weigh In

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

Donegal Group Company Profile

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.