National General Holdings Corp (NGHC) to Post FY2018 Earnings of $2.20 Per Share, B. Riley Forecasts
National General Holdings Corp (NASDAQ:NGHC) – Stock analysts at B. Riley increased their FY2018 earnings estimates for National General in a research note issued to investors on Thursday. B. Riley analyst R. Binner now forecasts that the insurance provider will post earnings of $2.20 per share for the year, up from their prior forecast of $2.00. B. Riley currently has a “Buy” rating and a $29.00 target price on the stock.
A number of other research analysts have also recently commented on the stock. Zacks Investment Research raised shares of National General from a “strong sell” rating to a “hold” rating in a report on Thursday, October 5th. BidaskClub cut shares of National General from a “sell” rating to a “strong sell” rating in a report on Thursday, December 21st. FBR & Co reissued a “buy” rating and issued a $29.00 target price on shares of National General in a report on Monday, September 18th. Keefe, Bruyette & Woods reissued a “buy” rating on shares of National General in a report on Friday, September 29th. Finally, TheStreet raised shares of National General from a “c” rating to a “b” rating in a report on Tuesday, November 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $26.40.
National General (NASDAQ:NGHC) last posted its earnings results on Wednesday, November 8th. The insurance provider reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.11. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.09 billion. National General had a net margin of 2.62% and a return on equity of 7.30%. The business’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.31 earnings per share.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Tuesday, January 2nd will be issued a $0.04 dividend. The ex-dividend date is Friday, December 29th. This represents a $0.16 dividend on an annualized basis and a yield of 0.81%. National General’s dividend payout ratio (DPR) is presently 16.49%.
In other National General news, Director John Drake Nichols acquired 24,500 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The stock was acquired at an average price of $20.45 per share, for a total transaction of $501,025.00. Following the acquisition, the director now directly owns 24,500 shares in the company, valued at $501,025. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 3.43% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA raised its holdings in National General by 530.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,663 shares of the insurance provider’s stock valued at $119,000 after buying an additional 4,765 shares during the last quarter. Pacad Investment Ltd. bought a new position in National General in the 2nd quarter valued at approximately $143,000. SG Americas Securities LLC bought a new position in National General in the 3rd quarter valued at approximately $134,000. First Quadrant L P CA raised its holdings in National General by 118.8% in the 3rd quarter. First Quadrant L P CA now owns 9,850 shares of the insurance provider’s stock valued at $188,000 after buying an additional 5,348 shares during the last quarter. Finally, Sciencast Management LP bought a new position in National General in the 2nd quarter valued at approximately $211,000. Institutional investors and hedge funds own 45.62% of the company’s stock.
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About National General
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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