Donegal Group (NASDAQ:DGICB) Shares Gap Down - Time to Sell?

Key Points

• Donegal Group shares fell sharply, opening at $17.97 versus a prior close of $19.40 and last trading at $18.19, down about 6.2%.
• Analysts maintain a cautious stance: Weiss Ratings reaffirmed a “hold (c)” rating, and the broader analyst consensus is “Hold.”
• Despite the stock decline, the company reported quarterly EPS of $0.49, beating estimates by $0.07, and pays a quarterly dividend of $0.175, representing a 3.8% annualized yield.

Donegal Group, Inc. (NASDAQ:DGICB - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $19.40, but opened at $17.97. Donegal Group shares last traded at $18.19, with a volume of 562 shares.

Analyst Upgrades and Downgrades

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

Donegal Group Stock Down 6.2%

The firm has a market cap of $675.19 million, a P/E ratio of 10.22 and a beta of 0.04. The firm's fifty day moving average is $23.08 and its 200 day moving average is $20.57. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.39 and a current ratio of 0.39.

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

Donegal Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were paid a dividend of $0.175 per share. The ex-dividend date was Friday, July 31st. This represents a $0.70 dividend on an annualized basis and a dividend yield of 3.8%. Donegal Group's dividend payout ratio (DPR) is 39.33%.

Institutional Trading of Donegal Group

An institutional investor recently bought a new position in Donegal Group stock. Lewis Asset Management LLC acquired a new stake in Donegal Group, Inc. (NASDAQ:DGICB - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 11,469 shares of the insurance provider's stock, valued at approximately $203,000. Institutional investors own 1.19% of the company's stock.

About Donegal Group

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.