ValuEngine cut shares of Federated National (NASDAQ:FNHC) from a buy rating to a hold rating in a report released on Friday morning.
FNHC has been the subject of several other reports. BidaskClub upgraded shares of Federated National from a hold rating to a buy rating in a research note on Tuesday, August 14th. Zacks Investment Research upgraded shares of Federated National from a hold rating to a strong-buy rating and set a $27.00 target price for the company in a research note on Thursday. Finally, Keefe, Bruyette & Woods reiterated a buy rating and issued a $27.00 target price on shares of Federated National in a research note on Wednesday, August 8th. Two research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Federated National has a consensus rating of Buy and an average target price of $27.00.
NASDAQ:FNHC traded down $0.57 during mid-day trading on Friday, hitting $22.27. The stock had a trading volume of 51,625 shares, compared to its average volume of 65,164. Federated National has a twelve month low of $12.84 and a twelve month high of $26.76. The company has a market capitalization of $324.41 million, a P/E ratio of 37.12 and a beta of 1.18. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.51 and a current ratio of 0.51.
Federated National (NASDAQ:FNHC) last issued its earnings results on Monday, August 6th. The insurance provider reported $0.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.19. Federated National had a net margin of 4.42% and a return on equity of 8.13%. The business had revenue of $95.53 million during the quarter, compared to the consensus estimate of $89.55 million. As a group, equities analysts forecast that Federated National will post 2.25 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Thursday, November 1st will be issued a $0.08 dividend. The ex-dividend date is Wednesday, October 31st. This represents a $0.32 annualized dividend and a yield of 1.44%. Federated National’s dividend payout ratio is currently 53.33%.
In other Federated National news, Director Richard W. Wilcox, Jr. sold 7,500 shares of the stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $25.35, for a total value of $190,125.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 10.50% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC bought a new position in Federated National in the 2nd quarter valued at about $210,000. Baird Financial Group Inc. bought a new position in shares of Federated National during the second quarter worth approximately $225,000. Engineers Gate Manager LP bought a new position in shares of Federated National during the second quarter worth approximately $278,000. Shaker Investments LLC OH bought a new position in shares of Federated National during the second quarter worth approximately $300,000. Finally, State Board of Administration of Florida Retirement System bought a new position in shares of Federated National during the second quarter worth approximately $313,000. 59.99% of the stock is currently owned by hedge funds and other institutional investors.
About Federated National
FedNat 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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