Zacks Investment Research upgraded shares of Federated National (NASDAQ:FNHC) from a strong sell rating to a hold rating in a research note issued to investors on Tuesday, January 9th.
According to Zacks, “Federated National Holding Company is an insurance holding company, which through its subsidiaries, controls all aspects of the insurance underwriting, distribution and claims processes. The Company underwrites homeowners’ property and casualty, commercial general liability, commercial residential property, flood, personal automobile and commercial automobile. It is also licensed to and has the facilities to market and underwrite policies for other insurance carriers’ lines of business such as, inland marine, workers’ compensation and personal umbrella insurance. Federated National Holding Company, formerly known as 21st Century Holding Company, is based in Sunrise, Florida. “
A number of other equities analysts also recently issued reports on FNHC. Keefe, Bruyette & Woods reiterated a buy rating and issued a $21.00 price objective on shares of Federated National in a report on Thursday, September 21st. ValuEngine upgraded Federated National from a sell rating to a hold rating in a report on Friday, December 29th.
Federated National (FNHC) traded down $0.01 during trading hours on Tuesday, hitting $14.82. The stock had a trading volume of 13,635 shares, compared to its average volume of 43,147. Federated National has a 52-week low of $9.78 and a 52-week high of $21.19. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.02.
Federated National (NASDAQ:FNHC) last announced its quarterly earnings results on Monday, November 6th. The insurance provider reported ($0.42) EPS for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.14. Federated National had a negative return on equity of 4.03% and a negative net margin of 2.54%. sell-side analysts anticipate that Federated National will post 0.19 earnings per share for the current year.
Federated National declared that its board has authorized a share buyback plan on Tuesday, December 19th that authorizes the company to buyback $10.00 million in outstanding shares. This buyback authorization authorizes the insurance provider to purchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 1st will be given a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, January 31st. This represents a $0.32 annualized dividend and a yield of 2.16%. Federated National’s payout ratio is -45.07%.
Several hedge funds have recently bought and sold shares of FNHC. Alliancebernstein L.P. bought a new stake in Federated National during the 2nd quarter valued at approximately $171,000. The Manufacturers Life Insurance Company increased its stake in Federated National by 9.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,058 shares of the insurance provider’s stock worth $193,000 after acquiring an additional 1,022 shares during the last quarter. Unison Advisors LLC bought a new stake in Federated National in the 4th quarter worth approximately $210,000. Quantitative Systematic Strategies LLC bought a new stake in Federated National in the 3rd quarter worth approximately $317,000. Finally, Teachers Advisors LLC increased its stake in Federated National by 5.3% in the 2nd quarter. Teachers Advisors LLC now owns 25,061 shares of the insurance provider’s stock worth $401,000 after acquiring an additional 1,272 shares during the last quarter. 62.28% of the stock is currently owned by hedge funds and other institutional investors.
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About Federated National
Federated National Holding Company (FNHC) is an insurance holding company that controls all steps in the insurance underwriting, distribution and claims processes through its subsidiaries and its contractual relationships with its independent agents and general agents. The Company is authorized to underwrite homeowners’ multi-peril (homeowners), commercial general liability, federal flood, personal auto and various other lines of insurance in Florida and various other states.
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