National General (NASDAQ:NGHC) Upgraded by BidaskClub to “Hold”
Several other brokerages also recently commented on NGHC. Zacks Investment Research raised shares of National General from a hold rating to a buy rating and set a $25.00 price target for the company in a report on Saturday, July 27th. Compass Point set a $36.00 price target on shares of National General and gave the company a hold rating in a report on Monday, June 24th. ValuEngine downgraded shares of National General from a hold rating to a sell rating in a report on Thursday, June 27th. Finally, B. Riley raised their price target on shares of National General from $33.00 to $36.00 and gave the company a buy rating in a report on Friday, May 31st. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. National General currently has an average rating of Hold and a consensus target price of $31.17.
NASDAQ:NGHC traded down $0.10 during trading hours on Thursday, hitting $24.39. The stock had a trading volume of 192,150 shares, compared to its average volume of 232,130. The company has a 50 day simple moving average of $23.78 and a two-hundred day simple moving average of $23.88. National General has a one year low of $21.22 and a one year high of $28.89. The firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of 11.67 and a beta of 0.67.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 16th. Stockholders of record on Wednesday, October 2nd will be issued a dividend of $0.05 per share. This is an increase from National General’s previous quarterly dividend of $0.04. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date is Tuesday, October 1st. National General’s payout ratio is currently 7.66%.
In other news, CFO Michael Hal Weiner sold 5,110 shares of National General stock in a transaction on Friday, July 26th. The shares were sold at an average price of $23.00, for a total transaction of $117,530.00. Following the completion of the sale, the chief financial officer now directly owns 49,560 shares of the company’s stock, valued at approximately $1,139,880. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 15,846 shares of company stock valued at $373,503 over the last ninety days. 3.38% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. NumerixS Investment Technologies Inc bought a new stake in shares of National General during the 2nd quarter worth $64,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in National General by 47.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,106 shares of the insurance provider’s stock worth $117,000 after purchasing an additional 1,651 shares during the period. Cambria Investment Management L.P. purchased a new position in National General in the 1st quarter worth $137,000. Acadian Asset Management LLC purchased a new position in National General in the 2nd quarter worth $220,000. Finally, Janus Henderson Group PLC purchased a new position in National General in the 2nd quarter worth $228,000. 52.11% of the stock is owned by institutional investors.
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, Bermuda, Luxembourg, and Sweden. The company's 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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