National General Holdings Corp (NASDAQ:NGHC) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of National General Holdings Corp (NASDAQ:NGHC) from a strong sell rating to a hold rating in a research note published on Thursday morning.

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. “

Several other equities analysts have also issued reports on the company. BidaskClub upgraded National General Holdings Corp from a strong sell rating to a sell rating in a research note on Friday, June 30th. Keefe, Bruyette & Woods reiterated a buy rating and issued a $27.00 price target on shares of National General Holdings Corp in a research note on Wednesday, June 21st. Finally, ValuEngine lowered National General Holdings Corp from a buy rating to a hold rating in a research note on Thursday, May 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. National General Holdings Corp currently has an average rating of Hold and a consensus target price of $25.00.

National General Holdings Corp (NASDAQ NGHC) traded down 1.57% during trading on Thursday, reaching $21.37. The company’s stock had a trading volume of 129,781 shares. National General Holdings Corp has a 1-year low of $18.04 and a 1-year high of $26.99. The stock has a market cap of $2.28 billion, a P/E ratio of 17.96 and a beta of 1.26. The company’s 50 day moving average price is $21.41 and its 200-day moving average price is $23.00.

National General Holdings Corp (NASDAQ:NGHC) last posted its quarterly earnings data on Monday, May 8th. The insurance provider reported $0.38 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.38. National General Holdings Corp had a return on equity of 10.43% and a net margin of 3.70%. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $943.94 million. During the same quarter last year, the company earned $0.50 EPS. The company’s revenue was up 36.1% on a year-over-year basis. Equities analysts forecast that National General Holdings Corp will post $1.74 earnings per share for the current fiscal year.

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The firm also recently declared a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Monday, July 3rd were paid a $0.04 dividend. The ex-dividend date of this dividend was Thursday, June 29th. This represents a $0.16 annualized dividend and a dividend yield of 0.75%. National General Holdings Corp’s payout ratio is 13.56%.

In other news, COO Peter A. Rendall sold 30,901 shares of National General Holdings Corp stock in a transaction on Friday, June 30th. The stock was sold at an average price of $21.06, for a total value of $650,775.06. Following the transaction, the chief operating officer now owns 126 shares in the company, valued at approximately $2,653.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Peter A. Rendall sold 32,659 shares of National General Holdings Corp stock in a transaction on Friday, June 9th. The shares were sold at an average price of $22.05, for a total value of $720,130.95. Following the completion of the transaction, the chief operating officer now owns 63,686 shares in the company, valued at approximately $1,404,276.30. The disclosure for this sale can be found here. Company insiders own 3.43% of the company’s stock.

Several institutional investors have recently modified their holdings of NGHC. Tudor Investment Corp ET AL acquired a new position in shares of National General Holdings Corp during the first quarter valued at about $518,000. Highbridge Capital Management LLC acquired a new position in shares of National General Holdings Corp during the first quarter valued at about $619,000. Nomura Holdings Inc. acquired a new position in shares of National General Holdings Corp during the first quarter valued at about $310,000. State Street Corp raised its position in shares of National General Holdings Corp by 0.6% in the first quarter. State Street Corp now owns 945,202 shares of the insurance provider’s stock valued at $22,459,000 after buying an additional 6,103 shares during the last quarter. Finally, Bank of America Corp DE raised its position in shares of National General Holdings Corp by 45.9% in the first quarter. Bank of America Corp DE now owns 335,494 shares of the insurance provider’s stock valued at $7,971,000 after buying an additional 105,526 shares during the last quarter. Institutional investors own 53.75% of the company’s stock.

National General Holdings Corp Company Profile

National General Holdings Corp. is a specialty personal lines insurance holding company. Through its subsidiaries, the Company provides a range of insurance products, including personal and commercial automobile, homeowners, umbrella, recreational vehicle, supplemental health, lender-placed and other niche products.

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