National General Holdings Corp (NGHC) Position Raised by First Trust Advisors LP
First Trust Advisors LP boosted its position in National General Holdings Corp (NASDAQ:NGHC) by 26.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,108 shares of the insurance provider’s stock after purchasing an additional 9,335 shares during the period. First Trust Advisors LP’s holdings in National General were worth $1,211,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently made changes to their positions in the stock. First Quadrant L P CA acquired a new stake in National General during the third quarter worth approximately $164,000. Strs Ohio boosted its position in National General by 64.0% during the third quarter. Strs Ohio now owns 29,193 shares of the insurance provider’s stock worth $783,000 after acquiring an additional 11,393 shares during the last quarter. Bank of Montreal Can boosted its position in National General by 84.2% during the third quarter. Bank of Montreal Can now owns 138,518 shares of the insurance provider’s stock worth $3,717,000 after acquiring an additional 63,336 shares during the last quarter. United Services Automobile Association boosted its position in National General by 36.5% during the second quarter. United Services Automobile Association now owns 13,128 shares of the insurance provider’s stock worth $346,000 after acquiring an additional 3,508 shares during the last quarter. Finally, Northern Trust Corp boosted its position in National General by 13.7% during the second quarter. Northern Trust Corp now owns 1,062,423 shares of the insurance provider’s stock worth $27,974,000 after acquiring an additional 127,984 shares during the last quarter. Hedge funds and other institutional investors own 48.33% of the company’s stock.
A number of analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of National General from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Thursday. Morgan Stanley set a $30.00 target price on shares of National General and gave the stock a “hold” rating in a research report on Wednesday, November 14th. BidaskClub upgraded shares of National General from a “hold” rating to a “buy” rating in a research report on Tuesday, November 13th. Finally, ValuEngine upgraded shares of National General from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $30.17.
National General (NASDAQ:NGHC) last announced its quarterly earnings results on Tuesday, October 30th. The insurance provider reported $0.65 earnings per share for the quarter, beating the Zacks’ consensus estimate 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 net margin of 3.63% and a return on equity of 15.64%. National General’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter last year, the business earned $0.26 EPS. Equities research analysts expect that National General Holdings Corp will post 2.18 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Tuesday, January 1st will be issued a $0.04 dividend. The ex-dividend date of this dividend is Friday, December 28th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.63%. National General’s dividend payout ratio (DPR) is presently 14.68%.
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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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