First Trust Advisors LP raised its position in National General Holdings Corp (NASDAQ:NGHC) by 26.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,108 shares of the insurance provider’s stock after purchasing an additional 9,335 shares during the quarter. First Trust Advisors LP’s holdings in National General were worth $1,211,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. First Quadrant L P CA acquired a new position in National General in the third quarter valued at $164,000. Strs Ohio boosted its stake in National General by 64.0% in the third quarter. Strs Ohio now owns 29,193 shares of the insurance provider’s stock valued at $783,000 after acquiring an additional 11,393 shares in the last quarter. Bank of Montreal Can boosted its stake in National General by 84.2% in the third quarter. Bank of Montreal Can now owns 138,518 shares of the insurance provider’s stock valued at $3,717,000 after acquiring an additional 63,336 shares in the last quarter. United Services Automobile Association boosted its stake in National General by 36.5% in the second quarter. United Services Automobile Association now owns 13,128 shares of the insurance provider’s stock valued at $346,000 after acquiring an additional 3,508 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in National General by 13.7% in the second quarter. Northern Trust Corp now owns 1,062,423 shares of the insurance provider’s stock valued at $27,974,000 after acquiring an additional 127,984 shares in the last quarter. 48.33% of the stock is currently owned by institutional investors.
Several equities analysts have issued reports on the stock. Zacks Investment Research upgraded shares of National General from a “sell” rating to a “hold” rating in a research note on Saturday, October 27th. BidaskClub upgraded shares of National General from a “hold” rating to a “buy” rating in a research note on Tuesday, November 13th. Morgan Stanley set a $30.00 price objective on shares of National General and gave the company a “hold” rating in a research note on Wednesday, November 14th. Finally, ValuEngine upgraded shares of National General from a “hold” rating to a “buy” rating in a research note on Thursday, November 1st. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. National General currently has an average rating of “Buy” and an average price target of $30.17.
Shares of NGHC opened at $25.39 on Friday. National General Holdings Corp has a fifty-two week low of $18.22 and a fifty-two week high of $28.89. The stock has a market cap of $2.75 billion, a PE ratio of 23.29 and a beta of 0.75.
National General (NASDAQ:NGHC) last announced its earnings results on Tuesday, October 30th. The insurance provider reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.25. National General had a net margin of 3.63% and a return on equity of 15.64%. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the firm earned $0.26 earnings per share. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. Research analysts expect that National General Holdings Corp will post 2.18 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Tuesday, January 1st will be paid a dividend of $0.04 per share. The ex-dividend date is Friday, December 28th. This represents a $0.16 annualized dividend and a dividend yield of 0.63%. National General’s dividend payout ratio (DPR) is 14.68%.
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About National General
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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