Zacks Investment Research upgraded shares of Federated National (NASDAQ:FNHC) from a hold rating to a strong-buy rating in a report published on Wednesday, March 14th. They currently have $19.00 price target on the insurance provider’s stock.
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. “
Other equities analysts have also recently issued research reports about the company. ValuEngine raised Federated National from a sell rating to a hold rating in a report on Friday, December 29th. Keefe, Bruyette & Woods set a $22.00 target price on Federated National and gave the stock a buy rating in a report on Thursday, December 21st.
Shares of Federated National stock traded up $0.07 during trading on Wednesday, reaching $16.42. 35,536 shares of the company’s stock were exchanged, compared to its average volume of 65,562. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.45 and a current ratio of 0.45. Federated National has a 1-year low of $9.78 and a 1-year high of $17.50. The stock has a market capitalization of $215.53, a P/E ratio of 27.37 and a beta of 1.03.
Federated National (NASDAQ:FNHC) last issued its earnings results on Tuesday, March 13th. The insurance provider reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. Federated National had a return on equity of 3.79% and a net margin of 2.29%. The business had revenue of $98.29 million during the quarter, compared to analysts’ expectations of $85.82 million. research analysts forecast that Federated National will post 2 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Tuesday, May 1st will be paid a $0.08 dividend. The ex-dividend date is Monday, April 30th. This represents a $0.32 annualized dividend and a dividend yield of 1.95%. Federated National’s payout ratio is 53.33%.
Federated National announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, December 19th that authorizes the company to repurchase $10.00 million in shares. This repurchase authorization authorizes the insurance provider to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
In other news, Director Jenifer G. Kimbrough sold 4,241 shares of the stock in a transaction dated Friday, March 16th. The stock was sold at an average price of $16.79, for a total value of $71,206.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 10.78% of the company’s stock.
Several institutional investors have recently made changes to their positions in FNHC. Alliancebernstein L.P. bought a new stake in shares of Federated National during the 2nd quarter valued at about $171,000. Teachers Advisors LLC boosted its position in shares of Federated National by 5.3% during the 2nd quarter. Teachers Advisors LLC now owns 25,061 shares of the insurance provider’s stock valued at $401,000 after purchasing an additional 1,272 shares in the last quarter. Northern Trust Corp boosted its position in shares of Federated National by 4.6% during the 2nd quarter. Northern Trust Corp now owns 151,951 shares of the insurance provider’s stock valued at $2,431,000 after purchasing an additional 6,676 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Federated National by 3.1% during the 2nd quarter. Vanguard Group Inc. now owns 503,028 shares of the insurance provider’s stock valued at $8,048,000 after purchasing an additional 14,924 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Federated National by 6.7% during the 2nd quarter. State Street Corp now owns 219,915 shares of the insurance provider’s stock valued at $3,517,000 after purchasing an additional 13,834 shares in the last quarter. Institutional investors own 63.20% of the company’s stock.
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Federated National Company Profile
Federated National Holding Company, through its subsidiaries, engages in insurance underwriting, distribution, and claims processing business in the United States. The company underwrites homeowner's multi-peril, personal automobile, commercial general liability, federal flood, and other lines of insurance.
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