National General Holdings Corp (NASDAQ:NGHC) has been given a consensus rating of “Hold” by the eight analysts that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $31.17.
A number of equities analysts recently issued reports on the company. ValuEngine downgraded National General from a “hold” rating to a “sell” rating in a report on Thursday, June 27th. Zacks Investment Research raised National General from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a report on Saturday, July 27th. BidaskClub raised National General from a “sell” rating to a “hold” rating in a report on Saturday, August 10th. B. Riley upped their price target on National General from $33.00 to $36.00 and gave the company a “buy” rating in a report on Friday, May 31st. Finally, Compass Point set a $36.00 price target on National General and gave the company a “hold” rating in a report on Monday, June 24th.
Shares of NGHC stock traded up $0.08 during trading hours on Wednesday, reaching $23.65. 129,500 shares of the stock were exchanged, compared to its average volume of 237,371. The business’s fifty day moving average is $23.38 and its two-hundred day moving average is $24.03. The firm has a market capitalization of $2.71 billion, a P/E ratio of 11.32 and a beta of 0.68. National General has a 12-month low of $21.22 and a 12-month high of $28.89.
National General (NASDAQ:NGHC) last announced its quarterly earnings results on Monday, July 29th. The insurance provider reported $0.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.07. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.37 billion. National General had a return on equity of 16.90% and a net margin of 5.44%. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.54 earnings per share. As a group, research analysts predict that National General will post 2.7 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 16th. Stockholders of record on Wednesday, October 2nd will be issued a $0.05 dividend. This is an increase from National General’s previous quarterly dividend of $0.04. This represents a $0.20 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend is Tuesday, October 1st. National General’s dividend payout ratio is presently 7.66%.
In other news, CFO Michael Hal Weiner sold 5,110 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $24.09, for a total value of $123,099.90. Following the completion of the sale, the chief financial officer now directly owns 44,623 shares of the company’s stock, valued at $1,074,968.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 20,956 shares of company stock valued at $491,135 over the last three months. Corporate insiders own 3.38% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new position in National General in the fourth quarter worth $29,088,000. Federated Investors Inc. PA raised its position in National General by 57.4% in the first quarter. Federated Investors Inc. PA now owns 1,073,444 shares of the insurance provider’s stock worth $25,473,000 after acquiring an additional 391,253 shares in the last quarter. BlackRock Inc. raised its position in National General by 7.5% in the second quarter. BlackRock Inc. now owns 4,772,804 shares of the insurance provider’s stock worth $109,490,000 after acquiring an additional 332,838 shares in the last quarter. Nuveen Asset Management LLC raised its position in National General by 2,276.8% in the second quarter. Nuveen Asset Management LLC now owns 343,847 shares of the insurance provider’s stock worth $7,888,000 after acquiring an additional 329,380 shares in the last quarter. Finally, Prudential Financial Inc. raised its position in National General by 38.0% in the second quarter. Prudential Financial Inc. now owns 939,399 shares of the insurance provider’s stock worth $21,551,000 after acquiring an additional 258,904 shares in the last quarter. 50.73% of the stock is owned by hedge funds and other institutional investors.
National General Company Profile
National General Holdings Corp., a specialty personal lines insurance holding company, provides various insurance products and services in the United States, Bermuda, Luxembourg, and Sweden. The company's Property and Casualty segment offers standard, preferred, and nonstandard automobile insurance products; and recreational vehicle (RV) insurance products that carry RV-specific endorsements comprising automatic personal effects coverage, optional replacement cost coverage, RV storage coverage, and full-time liability coverage.
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