Federated National Holding Company (FNHC) Rating Reiterated by Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reiterated their buy rating on shares of Federated National Holding Company (NASDAQ:FNHC) in a research report sent to investors on Thursday. The brokerage currently has a $21.00 target price on the insurance provider’s stock.

Federated National Holding (NASDAQ:FNHC) opened at 14.42 on Thursday. The stock’s market cap is $187.10 million. Federated National Holding has a 12-month low of $9.78 and a 12-month high of $21.19. The company has a 50-day moving average price of $14.89 and a 200 day moving average price of $15.94.

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The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 1st will be issued a $0.08 dividend. The ex-dividend date is Tuesday, October 31st. This represents a $0.32 dividend on an annualized basis and a yield of 2.22%. Federated National Holding’s dividend payout ratio is currently -168.42%.

In other Federated National Holding news, Director Carl Dorf sold 25,000 shares of the business’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $16.60, for a total value of $415,000.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 10.78% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. American International Group Inc. increased its position in shares of Federated National Holding by 7.0% in the 1st quarter. American International Group Inc. now owns 7,738 shares of the insurance provider’s stock worth $135,000 after purchasing an additional 509 shares during the last quarter. UBS Group AG increased its position in shares of Federated National Holding by 29.8% in the 1st quarter. UBS Group AG now owns 9,101 shares of the insurance provider’s stock worth $159,000 after purchasing an additional 2,088 shares during the last quarter. Alliancebernstein L.P. bought a new stake in shares of Federated National Holding in the 2nd quarter worth about $171,000. Globeflex Capital L P bought a new stake in shares of Federated National Holding in the 1st quarter worth about $174,000. Finally, The Manufacturers Life Insurance Company increased its position in shares of Federated National Holding by 9.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,058 shares of the insurance provider’s stock worth $193,000 after purchasing an additional 1,022 shares during the last quarter. 62.32% of the stock is owned by institutional investors.

About Federated National Holding

Federated National Holding Company (FNHC) is an insurance holding company that controls all steps in the insurance underwriting, distribution and claims processes through its subsidiaries and its contractual relationships with its independent agents and general agents. The Company is authorized to underwrite homeowners’ multi-peril (homeowners), commercial general liability, federal flood, personal auto and various other lines of insurance in Florida and various other states.

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