Donegal Group (NASDAQ:DGICB) Sees Strong Trading Volume - What's Next?

Key Points

• Donegal Group shares saw lighter trading on Wednesday, with about 2,969 shares changing hands, down 19% from the previous session, and the stock last traded at $21.11.
• Analysts remain cautious: Weiss Ratings reiterated a "hold (c)" rating, and the overall consensus rating for DGICB is currently Hold.
• The company recently missed earnings expectations, reporting Q1 EPS of $0.30 versus the $0.45 estimate and revenue of $236.0 million versus $247.83 million expected, though it also declared a quarterly dividend of $0.175 per share.

Shares of Donegal Group, Inc. (NASDAQ:DGICB - Get Free Report) saw strong trading volume on Wednesday . Approximately 2,969 shares changed hands during mid-day trading, a decline of 19% from the previous session's volume of 3,648 shares.The stock last traded at $21.11 and had previously closed at $21.81.

Analyst Ratings Changes

Separately, Weiss Ratings restated a "hold (c)" rating on shares of Donegal Group in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold".

Donegal Group Price Performance

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 business's 50 day moving average price is $20.94 and its two-hundred day moving average price is $18.46. The stock has a market cap of $843.26 million, a P/E ratio of 13.47 and a beta of 0.04.

Donegal Group (NASDAQ:DGICB - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The insurance provider reported $0.30 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.45 by ($0.15). The company had revenue of $236.00 million during the quarter, compared to the consensus estimate of $247.83 million. Donegal Group had a return on equity of 10.31% and a net margin of 6.77%.

Donegal Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be given a $0.175 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $0.70 annualized dividend and a dividend yield of 3.1%. Donegal Group's dividend payout ratio is currently 41.42%.

Institutional Investors Weigh In On Donegal Group

A hedge fund recently bought a new stake in Donegal Group stock. Lewis Asset Management LLC purchased a new position in Donegal Group, Inc. (NASDAQ:DGICB - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,469 shares of the insurance provider's stock, valued at approximately $203,000. Hedge funds and other institutional investors 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.

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