National Interstate Corp. (NATL) Lowered to Hold at Zacks Investment Research
National Interstate Corp. (NASDAQ:NATL) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “National Interstate Corporation is a specialty property and casualty insurance company with a niche orientation and focus on the transportation industry. Their core products include property and casualty insurance for transportation companies, group captive insurance programs for transportation companies that they refer to as their alternative risk transfer operations, specialty personal lines, primarily, recreational vehicle coverage and general commercial insurance in Hawaii. “
National Interstate Corp. (NASDAQ:NATL) opened at 32.49 on Tuesday. The firm has a market cap of $647.43 million, a P/E ratio of 28.13 and a beta of 1.07. National Interstate Corp. has a 12-month low of $21.15 and a 12-month high of $34.49. The company has a 50-day moving average price of $32.51 and a 200-day moving average price of $31.35.
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National Interstate Corp. (NASDAQ:NATL) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.51 EPS for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.11. National Interstate Corp. had a return on equity of 7.63% and a net margin of 3.57%. On average, analysts predict that National Interstate Corp. will post $1.85 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 13th. Investors of record on Friday, September 2nd were given a $0.14 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $0.56 dividend on an annualized basis and a yield of 1.72%. National Interstate Corp.’s payout ratio is 48.70%.
A number of hedge funds have recently made changes to their positions in NATL. Confluence Investment Management LLC raised its stake in shares of National Interstate Corp. by 118.3% in the fourth quarter. Confluence Investment Management LLC now owns 75,083 shares of the company’s stock worth $2,005,000 after buying an additional 40,694 shares during the last quarter. Gabelli Securities Inc. raised its position in National Interstate Corp. by 4.6% in the fourth quarter. Gabelli Securities Inc. now owns 73,121 shares of the company’s stock valued at $1,952,000 after buying an additional 3,200 shares during the last quarter. Dimensional Fund Advisors LP raised its position in National Interstate Corp. by 1.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 695,785 shares of the company’s stock valued at $18,578,000 after buying an additional 10,757 shares during the last quarter. Thrivent Financial For Lutherans raised its position in National Interstate Corp. by 6.3% in the fourth quarter. Thrivent Financial For Lutherans now owns 153,981 shares of the company’s stock valued at $4,112,000 after buying an additional 9,110 shares during the last quarter. Finally, Vivaldi Asset Management LLC bought a new position in National Interstate Corp. during the first quarter valued at about $2,106,000. Hedge funds and other institutional investors own 85.55% of the company’s stock.
National Interstate Corp. Company Profile
National Interstate Corporation and its subsidiaries operate as an insurance holding company that underwrites and sells traditional and alternative property and casualty insurance products to the passenger transportation, trucking and moving and storage industries, general commercial insurance to small businesses in Hawaii and Alaska and personal insurance to owners of recreational vehicles throughout the United States.
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