Federated National Holding Co (NASDAQ:FNHC) announced a quarterly dividend on Wednesday, February 21st, Wall Street Journal reports. Investors of record on Tuesday, May 1st will be paid a dividend of 0.08 per share by the insurance provider on Friday, June 1st. This represents a $0.32 annualized dividend and a yield of 2.03%. The ex-dividend date is Monday, April 30th.
Shares of Federated National (NASDAQ:FNHC) opened at $15.79 on Thursday. Federated National has a one year low of $9.78 and a one year 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.
Several research firms have weighed in on FNHC. Zacks Investment Research raised shares of Federated National from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 9th. ValuEngine upgraded shares of Federated National from a “sell” rating to a “hold” rating in a research report on Friday, December 29th. Finally, Keefe, Bruyette & Woods set a $22.00 price target on shares of Federated National and gave the stock a “buy” rating in a research report on Thursday, December 21st.
An institutional investor recently raised its position in Federated National stock. The Manufacturers Life Insurance Company raised its stake in Federated National Holding Co (NASDAQ:FNHC) by 9.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,058 shares of the insurance provider’s stock after purchasing an additional 1,022 shares during the period. The Manufacturers Life Insurance Company owned 0.09% of Federated National worth $193,000 as of its most recent SEC filing. 59.62% of the stock is currently owned by institutional investors.
Federated National announced that its Board of Directors has initiated a stock buyback plan on Tuesday, December 19th that permits the company to repurchase $10.00 million in shares. This repurchase authorization permits the insurance provider to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
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Federated National Company Profile
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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