Zacks Investment Research upgraded shares of National General (NASDAQ:NGHC) from a sell rating to a hold rating in a report published on Saturday.
According to Zacks, “National General Holdings Corp. is a specialty personal lines insurance holding company. The Company, through its subsidiaries, provides personal and commercial automobile insurance, recreational vehicle and motorcycle insurance, supplemental health insurance products and other niche insurance products. It operates in two segments, Property and Casualty and Accident and Health. The Property and Casualty segment offers standard and preferred automobile and sub-standard automobile insurance policies; Recreational vehicle insurance policies; commercial automobile insurance policies; and motorcycle insurance policies for various types of motorcycles, as well as golf carts and all-terrain vehicles. The Accident and Health segment provides accident and non-major medical health insurance products. National General Holdings Corp. is headquartered in New York. “
A number of other research analysts have also recently weighed in on NGHC. BidaskClub upgraded shares of National General from a sell rating to a hold rating in a research note on Tuesday, September 25th. Morgan Stanley boosted 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 research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. National General currently has an average rating of Hold and an average target price of $30.00.
National General (NASDAQ:NGHC) last released its quarterly earnings results on Monday, August 6th. The insurance provider reported $0.54 earnings per share for the quarter, topping the 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 business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the previous year, the company earned $0.11 earnings per share. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, analysts predict that National General will post 2.08 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Monday, October 1st were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date was Friday, September 28th. National General’s payout ratio is 14.68%.
In other National General news, COO Peter A. Rendall sold 6,195 shares of the business’s stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $27.75, for a total value of $171,911.25. Following the transaction, the chief operating officer now directly owns 17 shares in the company, valued at $471.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.40% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in the stock. Sei Investments Co. lifted its stake in shares of National General by 6.1% during the 2nd quarter. Sei Investments Co. now owns 48,237 shares of the insurance provider’s stock valued at $1,270,000 after buying an additional 2,754 shares in the last quarter. United Services Automobile Association lifted its stake in shares of National General by 36.5% during the 2nd quarter. United Services Automobile Association now owns 13,128 shares of the insurance provider’s stock valued at $346,000 after buying an additional 3,508 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of National General by 8.1% during the 1st quarter. JPMorgan Chase & Co. now owns 47,524 shares of the insurance provider’s stock valued at $1,155,000 after buying an additional 3,549 shares in the last quarter. Metropolitan Life Insurance Co. NY lifted its stake in shares of National General by 23.1% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 20,133 shares of the insurance provider’s stock valued at $530,000 after buying an additional 3,777 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in shares of National General during the 2nd quarter valued at approximately $102,000. Institutional investors own 48.48% of the company’s stock.
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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