National General (NGHC) Announces Earnings Results

National General (NASDAQ:NGHC) issued its quarterly earnings results on Tuesday. The insurance provider reported $0.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.25, MarketWatch Earnings reports. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.11 billion. National General had a net margin of 3.36% and a return on equity of 12.35%. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.26 earnings per share.

Shares of NGHC stock traded up $2.89 during trading hours on Wednesday, reaching $27.92. 306,911 shares of the stock were exchanged, compared to its average volume of 175,124. National General has a 12-month low of $18.22 and a 12-month high of $28.25. The firm has a market capitalization of $2.60 billion, a price-to-earnings ratio of 25.61 and a beta of 0.92.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Investors 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 dividend on an annualized basis and a dividend yield of 0.57%. National General’s payout ratio is 14.68%.

In related news, COO Peter A. Rendall sold 6,195 shares of the company’s stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $27.75, for a total transaction of $171,911.25. Following the sale, the chief operating officer now directly owns 17 shares in the company, valued at $471.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.40% of the stock is currently owned by corporate insiders.

A number of 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. 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 price target on shares of National General from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 14th. Finally, ValuEngine lowered shares of National General from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $30.00.

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.

Featured Story: What is Considered a Good Return on Equity (ROE)?

Earnings History for National General (NASDAQ:NGHC)

Receive News & Ratings for National General Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National General and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply