National General Holdings Corp (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 report report published on Thursday.

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. “

Other analysts have also recently issued reports about the company. BidaskClub upgraded National General Holdings Corp from a strong sell rating to a sell rating in a research report 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 report on Wednesday, June 21st. Finally, ValuEngine cut National General Holdings Corp from a buy rating to a hold rating in a research report on Thursday, May 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $25.00.

National General Holdings Corp (NGHC) traded down 1.57% during midday 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 firm has a 50 day moving average price of $21.41 and a 200 day moving average price of $23.00. The firm has a market capitalization of $2.28 billion, a PE ratio of 17.96 and a beta of 1.26.

National General Holdings Corp (NASDAQ:NGHC) last released its quarterly earnings data on Monday, May 8th. The insurance provider reported $0.38 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.38. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $943.94 million. National General Holdings Corp had a return on equity of 10.43% and a net margin of 3.70%. National General Holdings Corp’s quarterly revenue was up 36.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.50 earnings per share. On average, analysts predict that National General Holdings Corp will post $1.74 EPS for the current year.

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

In other National General Holdings Corp news, COO Peter A. Rendall sold 30,901 shares of the company’s 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 sale, the chief operating officer now directly owns 126 shares in the company, valued at $2,653.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Peter A. Rendall sold 32,659 shares of the company’s 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 sale, the chief operating officer now owns 63,686 shares in the company, valued at $1,404,276.30. The disclosure for this sale can be found here. Corporate insiders own 3.43% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Nomura Holdings Inc. bought a new stake in shares of National General Holdings Corp during the first quarter worth $310,000. BW Gestao de Investimentos Ltda. boosted its stake in shares of National General Holdings Corp by 17.1% in the first quarter. BW Gestao de Investimentos Ltda. now owns 15,350 shares of the insurance provider’s stock worth $365,000 after buying an additional 2,245 shares during the period. Legal & General Group Plc boosted its stake in shares of National General Holdings Corp by 15.2% in the first quarter. Legal & General Group Plc now owns 16,545 shares of the insurance provider’s stock worth $393,000 after buying an additional 2,188 shares during the period. AGF Investments Inc. bought a new stake in shares of National General Holdings Corp during the first quarter worth $403,000. Finally, Advisors Asset Management Inc. boosted its stake in shares of National General Holdings Corp by 89.9% in the first quarter. Advisors Asset Management Inc. now owns 21,227 shares of the insurance provider’s stock worth $504,000 after buying an additional 10,050 shares during the period. Hedge funds and other institutional investors own 53.75% of the company’s stock.

About National General Holdings Corp

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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