Swiss National Bank boosted its stake in National General Holdings (NASDAQ:NGHC) by 4.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 92,822 shares of the insurance provider’s stock after purchasing an additional 4,100 shares during the period. Swiss National Bank’s holdings in National General were worth $2,257,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Park West Asset Management LLC grew its holdings in National General by 5.0% during the 4th quarter. Park West Asset Management LLC now owns 4,606,870 shares of the insurance provider’s stock worth $90,479,000 after acquiring an additional 220,883 shares during the period. Strycker View Capital LLC grew its holdings in National General by 61.1% during the 4th quarter. Strycker View Capital LLC now owns 387,500 shares of the insurance provider’s stock worth $7,611,000 after acquiring an additional 147,000 shares during the period. Snow Capital Management LP acquired a new stake in National General during the 4th quarter worth about $2,380,000. Wells Fargo & Company MN grew its holdings in National General by 4.0% during the 4th quarter. Wells Fargo & Company MN now owns 2,684,237 shares of the insurance provider’s stock worth $52,719,000 after acquiring an additional 102,714 shares during the period. Finally, Prudential Financial Inc. grew its holdings in National General by 15.2% during the 1st quarter. Prudential Financial Inc. now owns 653,496 shares of the insurance provider’s stock worth $15,887,000 after acquiring an additional 86,063 shares during the period. Institutional investors and hedge funds own 46.62% of the company’s stock.
In other news, COO Peter A. Rendall sold 6,637 shares of the stock in a transaction dated Thursday, March 29th. The shares were sold at an average price of $24.31, for a total transaction of $161,345.47. Following the transaction, the chief operating officer now owns 17 shares of the company’s stock, valued at approximately $413.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.40% of the stock is owned by corporate insiders.
NGHC has been the subject of a number of recent analyst reports. Mizuho increased their price target on National General from $29.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, March 21st. BidaskClub upgraded National General from a “sell” rating to a “hold” rating in a report on Saturday, April 21st. Keefe, Bruyette & Woods downgraded National General from an “outperform” rating to a “market perform” rating and set a $27.00 price target for the company. in a report on Monday, June 4th. JMP Securities increased their price objective on shares of National General to $28.00 and gave the stock a “market outperform” rating in a research report on Tuesday, May 8th. Finally, Morgan Stanley increased their price objective on shares of National General from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 9th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $27.86.
National General opened at $27.33 on Monday, Marketbeat reports. The stock has a market cap of $2.92 billion, a PE ratio of 21.86 and a beta of 0.94. National General Holdings has a 1 year low of $16.21 and a 1 year high of $27.93.
National General (NASDAQ:NGHC) last released its quarterly earnings data on Monday, May 7th. The insurance provider reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.10. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.11 billion. National General had a net margin of 2.23% and a return on equity of 8.80%. The business’s revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.33 EPS. research analysts forecast that National General Holdings will post 2.26 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 16th. Stockholders of record on Monday, July 2nd will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Friday, June 29th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.59%. National General’s dividend payout ratio (DPR) is presently 14.68%.
National General Company Profile
National General Holdings Corp., a specialty personal lines insurance holding company, provides various insurance products and services in the United States. The company operates in two segments, Property and Casualty, and Accident and Health. The Property and Casualty segment offers standard, preferred, and nonstandard automobile insurance products; and recreational vehicle (RV) insurance products that carry RV-specific endorsements comprising automatic personal effects coverage, optional replacement cost coverage, RV storage coverage, and full-time liability coverage.
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