ValuEngine upgraded shares of National General (NASDAQ:NGHC) from a hold rating to a buy rating in a report published on Thursday morning.
Other research analysts have also issued reports about the company. Zacks Investment Research raised National General from a hold rating to a buy rating and set a $30.00 price target on the stock in a report on Wednesday, September 26th. Morgan Stanley raised their price target on National General from $27.00 to $29.00 and gave the company an equal weight rating in a report on Tuesday, August 14th. Finally, BidaskClub raised National General from a sell rating to a hold rating in a report on Tuesday, September 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. National General has a consensus rating of Hold and an average price target of $30.00.
Shares of NGHC traded down $0.82 during trading hours on Thursday, reaching $26.77. 10,930 shares of the company’s stock traded hands, compared to its average volume of 174,836. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of 24.86 and a beta of 0.92. National General has a twelve month low of $18.22 and a twelve month high of $28.56.
National General (NASDAQ:NGHC) last issued its quarterly earnings results on Tuesday, October 30th. The insurance provider reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.25. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.11 billion. National General had a return on equity of 15.75% and a net margin of 3.63%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period last year, the company earned $0.26 earnings per share. On average, research analysts expect that National General will post 2.08 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Tuesday, January 1st will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date is Friday, December 28th. National General’s payout ratio is currently 14.68%.
In related news, COO Peter A. Rendall sold 6,195 shares of National General stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $27.75, for a total transaction of $171,911.25. Following the transaction, the chief operating officer now directly owns 17 shares of the company’s stock, valued at $471.75. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 3.40% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. acquired a new position in National General during the first quarter worth about $214,000. Rhumbline Advisers grew its holdings in National General by 26.9% during the second quarter. Rhumbline Advisers now owns 60,364 shares of the insurance provider’s stock worth $1,589,000 after acquiring an additional 12,785 shares during the period. Sei Investments Co. grew its holdings in National General by 6.1% during the second quarter. Sei Investments Co. now owns 48,237 shares of the insurance provider’s stock worth $1,270,000 after acquiring an additional 2,754 shares during the period. Millennium Management LLC acquired a new position in National General during the second quarter worth about $4,969,000. Finally, Meeder Asset Management Inc. acquired a new position in National General during the second quarter worth about $102,000. 48.48% of the stock is currently owned by hedge funds and other institutional investors.
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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