Donegal Group, Inc. (NASDAQ:DGICB) Stock Short Interest Climbs 60.2%

Key Points

• Donegal Group’s short interest rose 60.2% to 7,619 shares as of October 15, representing a days-to-cover ratio of 3.9.
• DGICB shares fell 9.3% to $22.66 during Monday trading, while trading volume remained below its average.
• The company exceeded quarterly EPS expectations, reporting $0.46 versus the $0.44 consensus, and declared a quarterly dividend of $0.175 per share, yielding 3.1% annually.

Donegal Group, Inc. (NASDAQ:DGICB - Get Free Report) saw a large growth in short interest during the month of October. As of October 15th, there was short interest totaling 7,619 shares, a growth of 60.2% from the September 30th total of 4,756 shares. Approximately 0.0% of the company's shares are short sold. Based on an average daily volume of 1,933 shares, the days-to-cover ratio is currently 3.9 days.

Donegal Group Trading Down 9.3%

Shares of DGICB stock traded down $2.33 during trading hours on Monday, reaching $22.66. The company had a trading volume of 1,423 shares, compared to its average volume of 4,440. Donegal Group has a 1-year low of $15.10 and a 1-year high of $29.99. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.39 and a quick ratio of 0.39. The firm has a market cap of $841.32 million, a price-to-earnings ratio of 13.18 and a beta of -0.11. The company has a 50 day moving average of $21.35 and a 200 day moving average of $19.69.

Donegal Group (NASDAQ:DGICB - Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The insurance provider reported $0.46 EPS for the quarter, topping analysts' consensus estimates of $0.44 by $0.02. The business had revenue of $209.73 million during the quarter, compared to analysts' expectations of $214.12 million. Donegal Group had a return on equity of 10.49% and a net margin of 7.24%.

Donegal Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Monday, November 2nd will be paid a $0.1750 dividend. The ex-dividend date of this dividend is Monday, November 2nd. This represents a $0.70 dividend on an annualized basis and a dividend yield of 3.1%. Donegal Group's dividend payout ratio is 40.70%.

Wall Street Analyst Weigh In

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 Company Profile

Donegal Group Inc is an insurance holding company headquartered in Marietta, Pennsylvania. Established in 1986, the company operates through regional property and casualty insurance subsidiaries and is affiliated with Donegal Mutual Insurance Company.

Donegal Group provides a range of personal, commercial, and agricultural insurance products. Its offerings generally include private passenger automobile, homeowners, commercial automobile, commercial property, business liability, workers' compensation, and farm insurance.

The company distributes its policies primarily through independent insurance agencies and serves policyholders across multiple states in the Mid-Atlantic, Midwestern, and Southern regions of the United States.

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