Fuller & Thaler Asset Management Inc. raised its stake in National General Holdings Corp (NASDAQ:NGHC) by 55.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,505,789 shares of the insurance provider’s stock after buying an additional 893,802 shares during the period. Fuller & Thaler Asset Management Inc. owned about 2.35% of National General worth $47,886,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of NGHC. Royal Bank of Canada increased its holdings in shares of National General by 22.8% in the 2nd quarter. Royal Bank of Canada now owns 3,769,979 shares of the insurance provider’s stock worth $79,546,000 after buying an additional 699,595 shares during the last quarter. Northern Trust Corp grew its holdings in shares of National General by 43.6% during the 2nd quarter. Northern Trust Corp now owns 1,000,324 shares of the insurance provider’s stock valued at $21,107,000 after purchasing an additional 303,730 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of National General by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 4,118,335 shares of the insurance provider’s stock valued at $97,851,000 after purchasing an additional 180,570 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of National General by 12.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,622,874 shares of the insurance provider’s stock valued at $34,244,000 after purchasing an additional 177,415 shares during the last quarter. Finally, Schroder Investment Management Group grew its holdings in shares of National General by 13.6% during the 2nd quarter. Schroder Investment Management Group now owns 1,185,931 shares of the insurance provider’s stock valued at $25,343,000 after purchasing an additional 141,635 shares during the last quarter. 45.63% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director John Drake Nichols bought 24,500 shares of the company’s stock in a transaction dated Monday, November 27th. The stock was purchased at an average cost of $20.45 per share, with a total value of $501,025.00. Following the transaction, the director now owns 24,500 shares in the company, valued at approximately $501,025. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 3.43% of the company’s stock.
NGHC has been the topic of several recent research reports. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $27.00 target price on shares of National General in a report on Tuesday, August 29th. FBR & Co reaffirmed a “buy” rating and set a $29.00 target price on shares of National General in a report on Monday, September 18th. Zacks Investment Research raised shares of National General from a “strong sell” rating to a “hold” rating in a report on Thursday, October 5th. B. Riley reissued a “buy” rating and set a $29.00 price target on shares of National General in a research report on Monday, November 6th. Finally, Morgan Stanley dropped their price target on shares of National General from $25.00 to $23.00 and set an “equal weight” rating for the company in a research report on Thursday, August 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $26.40.
Shares of National General Holdings Corp (NASDAQ:NGHC) traded down $0.08 on Thursday, reaching $20.74. 337,859 shares of the company’s stock traded hands, compared to its average volume of 264,397. National General Holdings Corp has a fifty-two week low of $16.21 and a fifty-two week high of $26.99. The stock has a market cap of $2,237.95, a PE ratio of 20.37 and a beta of 1.33.
National General (NASDAQ:NGHC) last posted its earnings results on Wednesday, November 8th. The insurance provider reported $0.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.11. National General had a net margin of 2.62% and a return on equity of 7.30%. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period last year, the company posted $0.31 EPS. The company’s quarterly revenue was up 23.3% compared to the same quarter last year. analysts expect that National General Holdings Corp will post 0.98 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Tuesday, January 2nd will be given a $0.04 dividend. The ex-dividend date is Friday, December 29th. This represents a $0.16 annualized dividend and a dividend yield of 0.77%. National General’s dividend payout ratio is 16.49%.
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National General 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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