Donegal Group (NASDAQ:DGICB) Shares Gap Down - What's Next?

Key Points

• Donegal Group shares gapped down from a prior close of $24.01 to open at $23.01, last trading near $23.08.
• The company reported quarterly EPS of $0.49, beating the $0.42 consensus estimate, while revenue of $232.25 million also exceeded expectations.
• Analysts maintain a “Hold” consensus rating. Donegal Group declared a quarterly dividend of $0.175, equivalent to a $0.70 annualized payout and approximately a 3.0% yield.

Donegal Group, Inc. (NASDAQ:DGICB - Get Free Report) shares gapped down prior to trading on Wednesday . The stock had previously closed at $24.01, but opened at $23.01. Donegal Group shares last traded at $23.0790, with a volume of 383 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Donegal Group in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of "Hold".

Donegal Group Price Performance

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 firm has a fifty day moving average price of $22.07 and a two-hundred day moving average price of $19.01. The stock has a market capitalization of $855.08 million, a P/E ratio of 12.97 and a beta of 0.03.

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

Donegal Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors 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 yield of 3.0%. Donegal Group's dividend payout ratio is 39.33%.

Institutional Trading of Donegal Group

An institutional investor recently bought a new position in Donegal Group stock. Raymond James Financial Inc. acquired a new position in Donegal Group, Inc. (NASDAQ:DGICB - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 5,231 shares of the insurance provider's stock, valued at approximately $93,000. 1.19% of the stock is currently owned by institutional investors and hedge funds.

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.

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