National General (NGHC) Rating Lowered to Sell at BidaskClub
National General (NASDAQ:NGHC) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.
A number of other research firms have also recently commented on NGHC. TheStreet upgraded National General from a “c” rating to a “b” rating in a research report on Tuesday, November 21st. Zacks Investment Research cut National General from a “hold” rating to a “sell” rating in a research report on Wednesday, December 6th. Keefe, Bruyette & Woods restated a “buy” rating on shares of National General in a research report on Friday, September 29th. FBR & Co reaffirmed a “buy” rating and issued a $29.00 price target on shares of National General in a research note on Monday, September 18th. Finally, B. Riley reaffirmed a “buy” rating and issued a $29.00 price target on shares of National General in a research note on Monday, November 6th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $26.40.
Shares of National General (NASDAQ NGHC) opened at $20.35 on Tuesday. National General has a 12-month low of $16.21 and a 12-month high of $26.99. The company has a market capitalization of $2,204.89, a PE ratio of 20.07 and a beta of 1.33.
National General (NASDAQ:NGHC) last posted its earnings results on Wednesday, November 8th. The insurance provider reported $0.24 EPS for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.11. National General had a return on equity of 7.30% and a net margin of 2.62%. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same period last year, the firm earned $0.31 EPS. The company’s quarterly revenue was up 23.3% on a year-over-year basis. research analysts forecast that National General will post 0.98 EPS for the current year.
In related news, Director John Drake Nichols purchased 24,500 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The shares were purchased at an average cost of $20.45 per share, with a total value of $501,025.00. Following the purchase, the director now owns 24,500 shares of the company’s stock, valued at approximately $501,025. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.43% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. California Public Employees Retirement System lifted its stake in National General by 4.6% in the 3rd quarter. California Public Employees Retirement System now owns 269,868 shares of the insurance provider’s stock valued at $5,157,000 after buying an additional 11,868 shares in the last quarter. B. Riley Financial Inc. purchased a new position in National General in the 3rd quarter worth approximately $910,000. Elk Creek Partners LLC lifted its stake in National General by 11.2% in the 3rd quarter. Elk Creek Partners LLC now owns 990,815 shares of the insurance provider’s stock worth $18,934,000 after purchasing an additional 100,069 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in National General by 12.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,825,586 shares of the insurance provider’s stock worth $34,886,000 after purchasing an additional 202,712 shares in the last quarter. Finally, Hartford Investment Management Co. lifted its stake in National General by 26.0% in the 3rd quarter. Hartford Investment Management Co. now owns 311,369 shares of the insurance provider’s stock worth $5,950,000 after purchasing an additional 64,175 shares in the last quarter. 45.63% of the stock is currently owned by hedge funds and other institutional investors.
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About National General
National General Holdings Corp. is a specialty personal lines insurance holding company. Through its subsidiaries, the Company provides a range of insurance products, including personal and commercial automobile, homeowners, umbrella, recreational vehicle, supplemental health, lender-placed and other niche products.
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