Donegal Group (NASDAQ:DGICB) Shares Down 23.7% – Should You Sell?

Shares of Donegal Group, Inc. (NASDAQ:DGICB) fell 23.7% on Thursday . The company traded as low as $19.25 and last traded at $18.0790. Approximately 424 shares traded hands during trading, a decline of 89% from the average session volume of 3,703 shares. The stock had previously closed at $23.69.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Donegal Group in a research report on Friday, March 27th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold”.

Donegal Group Stock Performance

The stock’s fifty day moving average price is $18.95 and its 200 day moving average price is $17.40. The stock has a market cap of $846.96 million, a P/E ratio of 13.53 and a beta of 0.06. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.05.

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

Donegal Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were issued a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 3.1%. This is a boost from Donegal Group’s previous quarterly dividend of $0.17. The ex-dividend date was Friday, May 1st. Donegal Group’s dividend payout ratio is currently 41.42%.

Hedge Funds Weigh In On Donegal Group

An institutional investor recently bought a new position in Donegal Group stock. Lewis Asset Management LLC purchased a new position in Donegal Group, Inc. (NASDAQ:DGICB) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 11,469 shares of the insurance provider’s stock, valued at approximately $203,000. Institutional investors and hedge funds own 1.19% of the company’s stock.

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.