Donegal Group (NASDAQ:DGICB) Trading Down 6.8% - Time to Sell?

Key Points

• Donegal Group shares fell 6.8% to approximately $21.02 in thin trading, with volume about 89% below the average session volume.
• The insurer reported quarterly EPS of $0.49, beating estimates of $0.42, while revenue of $232.25 million slightly exceeded expectations.
• The company maintains a “Hold” consensus rating and recently paid a quarterly dividend of $0.175, equivalent to a 3.3% annualized yield.

Shares of Donegal Group, Inc. (NASDAQ:DGICB - Get Free Report) traded down 6.8% during mid-day trading on Friday . The company traded as low as $20.73 and last traded at $21.0210. Approximately 517 shares were traded during trading, a decline of 89% from the average session volume of 4,722 shares. The stock had previously closed at $22.55.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a "hold (c)" rating on shares of Donegal Group in a report on Wednesday, June 24th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of "Hold".

Donegal Group Stock Performance

The stock has a market capitalization of $780.28 million, a P/E ratio of 11.81 and a beta of 0.04. The stock has a 50 day simple moving average of $23.61 and a two-hundred day simple moving average of $20.49. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.05.

Donegal Group (NASDAQ:DGICB - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The insurance provider reported $0.49 EPS for the quarter, beating 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 company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were paid a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 3.3%. The ex-dividend date was Friday, July 31st. Donegal Group's dividend payout ratio (DPR) is 39.33%.

Institutional Trading of Donegal Group

An institutional investor recently bought a new stake in Donegal Group stock. Lewis Asset Management LLC purchased a new stake in Donegal Group, Inc. (NASDAQ:DGICB - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 11,469 shares of the insurance provider's stock, valued at approximately $203,000. 1.19% of the stock is currently owned by hedge funds and other institutional investors.

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.

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