ValuEngine Lowers National General (NASDAQ:NGHC) to Sell

National General (NASDAQ:NGHC) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Thursday, ValuEngine reports.

A number of other equities research analysts have also recently issued reports on NGHC. Zacks Investment Research cut shares of National General from a “hold” rating to a “sell” rating in a report on Wednesday, October 23rd. BidaskClub cut shares of National General from a “sell” rating to a “strong sell” rating in a report on Thursday, October 24th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $31.40.

NGHC stock opened at $21.12 on Thursday. National General has a 52-week low of $20.36 and a 52-week high of $27.47. The company has a 50-day moving average of $22.28 and a two-hundred day moving average of $23.32. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of 9.32 and a beta of 0.60.

National General (NASDAQ:NGHC) last released its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $0.59 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.06). National General had a net margin of 5.34% and a return on equity of 15.70%. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter last year, the company earned $0.65 earnings per share. The firm’s revenue was up 11.0% on a year-over-year basis. On average, equities analysts forecast that National General will post 2.65 earnings per share for the current fiscal year.

In other news, CFO Michael Hal Weiner sold 5,111 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $22.08, for a total transaction of $112,850.88. Following the completion of the transaction, the chief financial officer now owns 82,746 shares of the company’s stock, valued at $1,827,031.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Peter A. Rendall sold 9,858 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $21.77, for a total transaction of $214,608.66. The disclosure for this sale can be found here. Insiders have sold 20,079 shares of company stock valued at $451,530 in the last ninety days. 3.38% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. NumerixS Investment Technologies Inc acquired a new position in shares of National General during the second quarter valued at about $64,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of National General by 47.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,106 shares of the insurance provider’s stock valued at $117,000 after buying an additional 1,651 shares during the last quarter. SG Americas Securities LLC raised its position in shares of National General by 10.9% during the third quarter. SG Americas Securities LLC now owns 5,138 shares of the insurance provider’s stock valued at $118,000 after buying an additional 504 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of National General during the second quarter valued at about $220,000. Finally, Janus Henderson Group PLC acquired a new position in shares of National General during the second quarter valued at about $228,000. 52.32% of the stock is owned by institutional investors and hedge funds.

About National General

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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