National General Holdings Corp (NASDAQ:NGHC) has been assigned a consensus recommendation of “Hold” from the nine analysts that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $30.00.
Several equities analysts recently weighed in on the stock. BidaskClub lowered shares of National General from a “hold” rating to a “sell” rating in a research report on Wednesday, August 29th. ValuEngine lowered shares of National General from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. Zacks Investment Research lowered shares of National General from a “buy” rating to a “hold” rating in a research report on Saturday, October 6th. Finally, Morgan Stanley increased their target price on shares of National General from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 14th.
A number of large investors have recently modified their holdings of the business. BlackRock Inc. boosted its position in National General by 0.7% during the third quarter. BlackRock Inc. now owns 4,239,711 shares of the insurance provider’s stock worth $113,795,000 after purchasing an additional 31,556 shares during the period. Wells Fargo & Company MN boosted its position in National General by 27.4% during the second quarter. Wells Fargo & Company MN now owns 3,390,890 shares of the insurance provider’s stock worth $89,281,000 after purchasing an additional 728,985 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of National General by 14.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,692,521 shares of the insurance provider’s stock valued at $70,895,000 after acquiring an additional 330,210 shares during the period. Boston Partners boosted its position in shares of National General by 2.9% in the second quarter. Boston Partners now owns 1,863,301 shares of the insurance provider’s stock valued at $49,060,000 after acquiring an additional 52,703 shares during the period. Finally, Northern Trust Corp boosted its position in shares of National General by 13.7% in the second quarter. Northern Trust Corp now owns 1,062,423 shares of the insurance provider’s stock valued at $27,974,000 after acquiring an additional 127,984 shares during the period. Hedge funds and other institutional investors own 48.49% of the company’s stock.
National General (NASDAQ:NGHC) last posted its quarterly earnings results on Tuesday, October 30th. The insurance provider reported $0.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.25. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.11 billion. National General had a net margin of 3.63% and a return on equity of 15.64%. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.26 earnings per share. Equities analysts predict that National General will post 2.2 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Tuesday, January 1st will be given 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 yield of 0.57%. National General’s dividend payout ratio is presently 14.68%.
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.
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