National General (NGHC) Stock Rating Upgraded by Zacks Investment Research
Zacks Investment Research upgraded shares of National General (NASDAQ:NGHC) from a sell rating to a hold rating in a report issued on Saturday.
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. “
Other analysts have also recently issued research reports about the stock. TheStreet upgraded shares of National General from a c rating to a b rating in a report on Tuesday, November 21st. B. Riley reiterated a buy rating and issued a $29.00 price target on shares of National General in a report on Monday, November 6th. Keefe, Bruyette & Woods reiterated a buy rating on shares of National General in a report on Friday, September 29th. FBR & Co reiterated a buy rating and issued a $29.00 price target on shares of National General in a report on Monday, September 18th. Finally, BidaskClub raised National General from a sell rating to a hold rating in a research report on Wednesday, December 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $26.40.
National General (NASDAQ:NGHC) last released its quarterly earnings results on Wednesday, November 8th. The insurance provider reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.11. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.09 billion. National General had a net margin of 2.62% and a return on equity of 7.30%. The firm’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.31 earnings per share. equities analysts expect that National General will post 0.93 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Shareholders of record on Tuesday, January 2nd will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend is Friday, December 29th. National General’s dividend payout ratio is currently 16.49%.
In other news, Director John Drake Nichols acquired 24,500 shares of the stock in a transaction on Monday, November 27th. The stock was acquired at an average price of $20.45 per share, with a total value of $501,025.00. Following the completion of the transaction, the director now owns 24,500 shares of the company’s stock, valued at approximately $501,025. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 3.43% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Prudential Financial Inc. lifted its position in National General by 19.1% during the third quarter. Prudential Financial Inc. now owns 416,380 shares of the insurance provider’s stock valued at $7,957,000 after buying an additional 66,740 shares during the period. First Trust Advisors LP lifted its position in National General by 26.0% during the second quarter. First Trust Advisors LP now owns 107,090 shares of the insurance provider’s stock valued at $2,260,000 after buying an additional 22,109 shares during the period. Schwab Charles Investment Management Inc. raised its position in shares of National General by 5.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 241,138 shares of the insurance provider’s stock worth $5,089,000 after purchasing an additional 12,235 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of National General by 12.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,622,874 shares of the insurance provider’s stock worth $34,244,000 after purchasing an additional 177,415 shares during the last quarter. Finally, LSV Asset Management raised its position in shares of National General by 60.1% in the 2nd quarter. LSV Asset Management now owns 187,986 shares of the insurance provider’s stock worth $3,966,000 after purchasing an additional 70,600 shares during the last quarter. 45.62% of the stock is owned by institutional investors and hedge funds.
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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