National General (NGHC) Lowered to “Sell” at Zacks Investment Research

National General (NASDAQ:NGHC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

According to Zacks, “National General Holdings Corp. is a specialty personal lines insurance holding company. The Company, through its subsidiaries, provides personal and commercial automobile insurance, recreational vehicle and motorcycle insurance, supplemental health insurance products and other niche insurance products. It operates in two segments, Property and Casualty and Accident and Health. The Property and Casualty segment offers standard and preferred automobile and sub-standard automobile insurance policies; Recreational vehicle insurance policies; commercial automobile insurance policies; and motorcycle insurance policies for various types of motorcycles, as well as golf carts and all-terrain vehicles. The Accident and Health segment provides accident and non-major medical health insurance products. National General Holdings Corp. is headquartered in New York. “

Several other research analysts also recently weighed in on NGHC. ValuEngine upgraded National General from a “hold” rating to a “buy” rating in a research note on Thursday. BidaskClub downgraded National General from a “hold” rating to a “sell” rating in a research note on Wednesday, August 29th. Finally, Morgan Stanley upped their price target on National General from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $30.00.

NGHC stock opened at $27.59 on Friday. National General has a 1-year low of $18.22 and a 1-year high of $28.56. The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of 25.31 and a beta of 0.92.

National General (NASDAQ:NGHC) last posted its quarterly earnings results on Tuesday, October 30th. The insurance provider reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.25. National General had a return on equity of 15.75% and a net margin of 3.63%. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the prior year, the company posted $0.26 EPS. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, equities analysts anticipate that National General will post 2.08 earnings per share for the current fiscal year.

In other news, COO Peter A. Rendall sold 6,195 shares of the stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $27.75, for a total transaction of $171,911.25. Following the completion of the transaction, the chief operating officer now directly owns 17 shares in the company, valued at approximately $471.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.40% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Sei Investments Co. boosted its position in shares of National General by 6.1% during the 2nd quarter. Sei Investments Co. now owns 48,237 shares of the insurance provider’s stock valued at $1,270,000 after acquiring an additional 2,754 shares during the last quarter. United Services Automobile Association boosted its position in shares of National General by 36.5% during the 2nd quarter. United Services Automobile Association now owns 13,128 shares of the insurance provider’s stock valued at $346,000 after acquiring an additional 3,508 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of National General by 8.1% during the 1st quarter. JPMorgan Chase & Co. now owns 47,524 shares of the insurance provider’s stock valued at $1,155,000 after acquiring an additional 3,549 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its position in shares of National General by 23.1% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 20,133 shares of the insurance provider’s stock valued at $530,000 after acquiring an additional 3,777 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new position in shares of National General during the 2nd quarter valued at approximately $102,000. Hedge funds and other institutional investors own 48.48% of the company’s stock.

About National General

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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