National General Holdings Corp. (NGHC) Rating Increased to Hold at Zacks Investment Research
National General Holdings Corp. (NASDAQ:NGHC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “National General Holdings Corp. is a specialty personal lines insurance holding company. The Company, through its subsidiaries, provides personal and commercial automobile insurance, recreational vehicle and motorcycle insurance, supplemental health insurance products and other niche insurance products. It operates in two segments, Property and Casualty and Accident and Health. The Property and Casualty segment offers standard and preferred automobile and sub-standard automobile insurance policies; Recreational vehicle insurance policies; commercial automobile insurance policies; and motorcycle insurance policies for various types of motorcycles, as well as golf carts and all-terrain vehicles. The Accident and Health segment provides accident and non-major medical health insurance products. National General Holdings Corp. is headquartered in New York. “
Other research analysts have also issued research reports about the stock. Keefe, Bruyette & Woods increased their target price on shares of National General Holdings Corp. from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 3rd. Morgan Stanley lowered shares of National General Holdings Corp. from an “overweight” rating to an “equal weight” rating and set a $23.00 target price for the company. in a research note on Friday, November 18th. They noted that the move was a valuation call. Finally, William Blair reaffirmed an “outperform” rating on shares of National General Holdings Corp. in a research note on Saturday, September 10th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $26.00.
Shares of National General Holdings Corp. (NASDAQ:NGHC) opened at 22.61 on Wednesday. The stock has a market cap of $2.41 billion, a PE ratio of 18.70 and a beta of 1.27. The stock’s 50 day moving average is $21.83 and its 200-day moving average is $21.64. National General Holdings Corp. has a 12-month low of $18.04 and a 12-month high of $23.59.
National General Holdings Corp. (NASDAQ:NGHC) last announced its earnings results on Wednesday, November 2nd. The company reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.07. The company had revenue of $857.38 million for the quarter, compared to analysts’ expectations of $846.07 million. National General Holdings Corp. had a return on equity of 12.60% and a net margin of 4.36%. The company’s quarterly revenue was up 56.2% compared to the same quarter last year. During the same period last year, the business earned $0.43 EPS. Equities analysts expect that National General Holdings Corp. will post $1.47 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 17th. Stockholders of record on Tuesday, January 3rd will be given a dividend of $0.04 per share. The ex-dividend date is Thursday, December 29th. This represents a $0.16 annualized dividend and a dividend yield of 0.71%. National General Holdings Corp.’s dividend payout ratio is presently 13.11%.
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In other news, General Counsel Jeffrey Weissmann sold 18,000 shares of the stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $22.78, for a total transaction of $410,040.00. Following the sale, the general counsel now owns 34,053 shares of the company’s stock, valued at $775,727.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 14.10% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Allianz Asset Management AG boosted its stake in shares of National General Holdings Corp. by 137.3% in the second quarter. Allianz Asset Management AG now owns 2,245,554 shares of the company’s stock valued at $48,100,000 after buying an additional 1,299,233 shares in the last quarter. Schroder Investment Management Group purchased a new stake in shares of National General Holdings Corp. during the second quarter valued at $12,512,000. Royal Bank of Canada boosted its stake in shares of National General Holdings Corp. by 15.4% in the second quarter. Royal Bank of Canada now owns 4,224,530 shares of the company’s stock valued at $90,490,000 after buying an additional 562,600 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in shares of National General Holdings Corp. by 44.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,409,932 shares of the company’s stock valued at $30,201,000 after buying an additional 437,123 shares during the period. Finally, Hillcrest Asset Management LLC purchased a new stake in shares of National General Holdings Corp. during the third quarter valued at $8,623,000. 41.65% of the stock is currently owned by institutional investors and hedge funds.
About National General Holdings Corp.
National General Holdings Corp. is a personal lines insurance holding company. Through its subsidiaries, the Company provides a range of insurance products, including personal and commercial automobile, homeowners, umbrella, recreational vehicle, supplemental health, lender-placed and other niche products.
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