National General Holdings Corp (NASDAQ:NGHC) has earned an average recommendation of “Hold” from the eight ratings firms that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $32.40.
A number of equities research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of National General from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Compass Point set a $36.00 target price on shares of National General and gave the company a “hold” rating in a report on Monday, June 24th. ValuEngine downgraded shares of National General from a “hold” rating to a “sell” rating in a report on Thursday, June 27th. Finally, BidaskClub upgraded shares of National General from a “strong sell” rating to a “sell” rating in a report on Wednesday.
In related news, CFO Michael Hal Weiner sold 5,110 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $24.28, for a total value of $124,070.80. Following the completion of the sale, the chief financial officer now directly owns 73,215 shares in the company, valued at $1,777,660.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 15,846 shares of company stock valued at $374,474. 3.38% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in NGHC. NumerixS Investment Technologies Inc purchased a new stake in National General during the second quarter worth approximately $64,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in National General by 47.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,106 shares of the insurance provider’s stock worth $117,000 after buying an additional 1,651 shares during the period. Acadian Asset Management LLC purchased a new stake in National General during the second quarter worth approximately $220,000. Janus Henderson Group PLC purchased a new stake in National General during the second quarter worth approximately $228,000. Finally, Stevens Capital Management LP purchased a new stake in National General during the second quarter worth approximately $262,000. Institutional investors own 52.13% of the company’s stock.
Shares of NASDAQ:NGHC traded up $0.17 during trading on Thursday, reaching $22.63. The stock had a trading volume of 6,989 shares, compared to its average volume of 212,776. The business has a fifty day moving average price of $23.48 and a 200-day moving average price of $23.63. The stock has a market cap of $2.56 billion, a P/E ratio of 10.92 and a beta of 0.63. National General has a fifty-two week low of $21.22 and a fifty-two week high of $28.89.
National General (NASDAQ:NGHC) last posted its quarterly earnings data on Monday, July 29th. The insurance provider reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. National General had a net margin of 5.44% and a return on equity of 16.90%. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the previous year, the business posted $0.54 earnings per share. The company’s revenue was up 12.5% on a year-over-year basis. Equities analysts anticipate that National General will post 2.7 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 16th. Investors of record on Wednesday, October 2nd will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.88%. This is an increase from National General’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Tuesday, October 1st. National General’s payout ratio is presently 9.57%.
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, Bermuda, Luxembourg, and Sweden. The company's 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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