Bank of New York Mellon Corp trimmed its stake in shares of Federated National Holding Co (NASDAQ:FNHC) by 17.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 76,391 shares of the insurance provider’s stock after selling 16,372 shares during the quarter. Bank of New York Mellon Corp owned 0.58% of Federated National worth $1,763,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in FNHC. Acadian Asset Management LLC bought a new stake in shares of Federated National during the 2nd quarter valued at $210,000. Engineers Gate Manager LP bought a new stake in shares of Federated National during the 2nd quarter valued at $278,000. Shaker Investments LLC OH bought a new stake in shares of Federated National during the 2nd quarter valued at $300,000. State Board of Administration of Florida Retirement System bought a new stake in shares of Federated National during the 2nd quarter valued at $313,000. Finally, Cambria Investment Management L.P. bought a new stake in shares of Federated National during the 2nd quarter valued at $330,000. Institutional investors own 59.99% of the company’s stock.
A number of equities analysts have weighed in on FNHC shares. BidaskClub lowered Federated National from a “buy” rating to a “hold” rating in a research note on Tuesday, September 11th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $27.00 target price on shares of Federated National in a research note on Wednesday, August 8th. Zacks Investment Research lowered Federated National from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 16th. Finally, ValuEngine lowered Federated National from a “buy” rating to a “hold” rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating, one has issued a buy rating and two have issued a strong buy rating to the stock. Federated National currently has a consensus rating of “Buy” and a consensus price target of $27.00.
Shares of NASDAQ FNHC opened at $22.27 on Friday. The stock has a market capitalization of $324.41 million, a price-to-earnings ratio of 37.12 and a beta of 1.18. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.51 and a current ratio of 0.51. Federated National Holding Co has a twelve month low of $12.84 and a twelve month high of $26.76.
Federated National (NASDAQ:FNHC) last announced its earnings results on Monday, August 6th. The insurance provider reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.19. The business had revenue of $95.53 million for the quarter, compared to analyst estimates of $89.55 million. Federated National had a return on equity of 8.13% and a net margin of 4.42%. Research analysts forecast that Federated National Holding Co will post 2.25 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Thursday, November 1st will be paid a $0.08 dividend. The ex-dividend date is Wednesday, October 31st. This represents a $0.32 dividend on an annualized basis and a yield of 1.44%. Federated National’s dividend payout ratio is currently 53.33%.
In other Federated National news, Director Richard W. Wilcox, Jr. sold 7,500 shares of the company’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $25.35, for a total value of $190,125.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 10.50% of the stock is owned by corporate insiders.
About Federated National
FedNat Holding Company, through its subsidiaries, engages in insurance underwriting, distribution, and claims processing business in the United States. The company underwrites homeowner's multi-peril, personal automobile, commercial general liability, federal flood, and other lines of insurance.
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