Donegal Group (NASDAQ:DGICB) Stock Falls 6.6% – Time to Sell?

Donegal Group, Inc. (NASDAQ:DGICB) shares were down 6.6% on Friday. The company traded as low as $17.25 and last traded at $18.1190. Approximately 1,886 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 4,683 shares. The stock had previously closed at $19.40.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Donegal Group in a research report on Monday. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Donegal Group presently has a consensus rating of “Hold”.

Donegal Group Trading Up 3.2%

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 stock has a market cap of $667.05 million, a price-to-earnings ratio of 10.10 and a beta of 0.04. The business has a 50-day moving average of $22.97 and a 200-day moving average of $20.58.

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

Donegal Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were given a dividend of $0.1750 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a $0.70 dividend on an annualized basis and a yield of 3.9%. Donegal Group’s dividend payout ratio is presently 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 Donegal Group, Inc. (NASDAQ:DGICB) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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.