ValuEngine Lowers National General Holdings Corp (NGHC) to Hold
National General Holdings Corp (NASDAQ:NGHC) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.
Separately, Zacks Investment Research downgraded shares of National General Holdings Corp from a “hold” rating to a “sell” rating in a research report on Thursday, March 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $25.00.
Shares of National General Holdings Corp (NASDAQ:NGHC) traded up 0.14% during trading on Thursday, reaching $21.86. 53,382 shares of the company traded hands. The stock has a market capitalization of $2.33 billion, a PE ratio of 18.37 and a beta of 1.32. National General Holdings Corp has a 12 month low of $18.04 and a 12 month high of $26.99. The company has a 50-day moving average of $22.24 and a 200-day moving average of $23.59.
National General Holdings Corp (NASDAQ:NGHC) last announced its quarterly earnings data on Monday, May 8th. The insurance provider reported $0.38 EPS for the quarter, hitting the consensus estimate of $0.38. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $943.94 million. National General Holdings Corp had a net margin of 4.36% and a return on equity of 12.60%. The company’s quarterly revenue was up 36.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.50 EPS. Analysts forecast that National General Holdings Corp will post $1.82 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Investors of record on Monday, July 3rd will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend is Thursday, June 29th. National General Holdings Corp’s dividend payout ratio is currently 13.11%.
In other news, CEO Barry Karfunkel acquired 31,600 shares of the stock in a transaction that occurred on Thursday, March 30th. The shares were acquired at an average cost of $22.93 per share, for a total transaction of $724,588.00. Following the purchase, the chief executive officer now owns 73,473 shares of the company’s stock, valued at approximately $1,684,735.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Robert Karfunkel acquired 25,000 shares of the stock in a transaction that occurred on Tuesday, March 28th. The stock was purchased at an average price of $22.88 per share, for a total transaction of $572,000.00. Following the completion of the purchase, the insider now directly owns 28,521 shares in the company, valued at approximately $652,560.48. The disclosure for this purchase can be found here. Insiders purchased a total of 131,578 shares of company stock worth $3,014,585 over the last 90 days. 14.10% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its stake in shares of National General Holdings Corp by 12.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,342,359 shares of the insurance provider’s stock worth $33,546,000 after buying an additional 146,721 shares in the last quarter. State Street Corp boosted its stake in shares of National General Holdings Corp by 4.3% in the fourth quarter. State Street Corp now owns 939,099 shares of the insurance provider’s stock valued at $23,460,000 after buying an additional 38,307 shares in the last quarter. Bessemer Group Inc. boosted its stake in shares of National General Holdings Corp by 11.6% in the fourth quarter. Bessemer Group Inc. now owns 61,600 shares of the insurance provider’s stock valued at $1,539,000 after buying an additional 6,400 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in shares of National General Holdings Corp during the fourth quarter valued at $1,026,000. Finally, Delphi Management Inc. MA bought a new stake in shares of National General Holdings Corp during the third quarter valued at $1,738,000. Institutional investors and hedge funds own 41.83% of the company’s stock.
National General Holdings Corp Company Profile
National General Holdings Corp. is a specialty 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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