Schroder Investment Management Group trimmed its position in shares of National General Holdings Corp (NASDAQ:NGHC) by 36.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 859,448 shares of the insurance provider’s stock after selling 503,196 shares during the period. Schroder Investment Management Group owned 0.80% of National General worth $22,827,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of National General by 23.2% during the 2nd quarter. BlackRock Inc. now owns 4,208,155 shares of the insurance provider’s stock valued at $110,801,000 after purchasing an additional 793,507 shares during the period. Wells Fargo & Company MN grew its stake in National General by 27.4% during the second quarter. Wells Fargo & Company MN now owns 3,390,890 shares of the insurance provider’s stock valued at $89,281,000 after acquiring an additional 728,985 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in National General by 14.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,692,521 shares of the insurance provider’s stock valued at $70,895,000 after acquiring an additional 330,210 shares in the last quarter. MSD Partners L.P. grew its stake in National General by 86.0% during the first quarter. MSD Partners L.P. now owns 2,162,500 shares of the insurance provider’s stock valued at $52,570,000 after acquiring an additional 1,000,000 shares in the last quarter. Finally, Boston Partners grew its stake in National General by 2.9% during the second quarter. Boston Partners now owns 1,863,301 shares of the insurance provider’s stock valued at $49,060,000 after acquiring an additional 52,703 shares in the last quarter. Hedge funds and other institutional investors own 48.41% of the company’s stock.
In other National General news, COO Peter A. Rendall sold 6,195 shares of National General stock in a transaction on Monday, August 13th. The shares were sold at an average price of $27.75, for a total value of $171,911.25. Following the completion of the transaction, the chief operating officer now directly owns 17 shares of the company’s stock, valued at approximately $471.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.40% of the company’s stock.
Several equities analysts recently weighed in on the stock. Zacks Investment Research cut shares of National General from a “buy” rating to a “hold” rating in a research note on Saturday, October 6th. BidaskClub cut shares of National General from a “sell” rating to a “strong sell” rating in a research note on Wednesday, September 12th. Morgan Stanley raised their target price on shares of National General from $27.00 to $29.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 14th. Finally, ValuEngine cut shares of National General from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $30.00.
NGHC opened at $24.36 on Friday. The firm has a market cap of $2.87 billion, a P/E ratio of 22.35 and a beta of 0.93. National General Holdings Corp has a fifty-two week low of $18.22 and a fifty-two week high of $28.25.
National General (NASDAQ:NGHC) last posted its earnings results on Monday, August 6th. The insurance provider reported $0.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.01. National General had a net margin of 3.36% and a return on equity of 12.35%. The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same period last year, the company posted $0.11 earnings per share. National General’s quarterly revenue was down .5% on a year-over-year basis. As a group, equities analysts predict that National General Holdings Corp will post 2.27 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Monday, October 1st will be paid a $0.04 dividend. The ex-dividend date of this dividend is Friday, September 28th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.66%. National General’s payout ratio is currently 14.68%.
National General Company Profile
National General Holdings Corp., a specialty personal lines insurance holding company, provides various insurance products and services in the United States. The company operates in two segments, Property and Casualty, and Accident and Health. The Property and Casualty segment offers standard, preferred, and nonstandard automobile insurance products; and recreational vehicle (RV) insurance products that carry RV-specific endorsements comprising automatic personal effects coverage, optional replacement cost coverage, RV storage coverage, and full-time liability coverage.
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