Schwab Charles Investment Management Inc. Purchases 64,014 Shares of National General Holdings Corp (NGHC)
Schwab Charles Investment Management Inc. grew its stake in shares of National General Holdings Corp (NASDAQ:NGHC) by 22.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 349,994 shares of the insurance provider’s stock after buying an additional 64,014 shares during the quarter. Schwab Charles Investment Management Inc. owned about 0.33% of National General worth $9,216,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. bought a new stake in shares of National General during the 2nd quarter worth about $102,000. SG Americas Securities LLC bought a new stake in shares of National General during the 2nd quarter worth about $118,000. Aperio Group LLC bought a new stake in shares of National General during the 1st quarter worth about $209,000. Principal Financial Group Inc. bought a new stake in shares of National General during the 1st quarter worth about $214,000. Finally, Amalgamated Bank bought a new stake in shares of National General during the 2nd quarter worth about $238,000. Institutional investors own 48.41% of the company’s stock.
NGHC has been the topic of a number of recent analyst reports. BidaskClub upgraded shares of National General from a “hold” rating to a “buy” rating in a research report on Friday, June 1st. Keefe, Bruyette & Woods downgraded shares of National General from an “outperform” rating to a “market perform” rating and set a $27.00 price target on the stock. in a research report on Monday, June 4th. JMP Securities boosted their price target on shares of National General from $30.00 to $32.00 and gave the stock a “market outperform” rating in a research report on Monday, June 11th. Zacks Investment Research upgraded shares of National General from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a research report on Thursday, July 12th. Finally, ValuEngine downgraded shares of National General from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. National General currently has a consensus rating of “Hold” and an average target price of $30.17.
National General (NASDAQ:NGHC) last released its earnings results on Monday, August 6th. The insurance provider reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. National General had a net margin of 3.36% and a return on equity of 12.35%. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the previous year, the firm earned $0.11 EPS. The business’s revenue for the quarter was down .5% on a year-over-year basis. analysts predict that National General Holdings Corp will post 2.27 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Monday, October 1st will be issued a $0.04 dividend. The ex-dividend date of this dividend is Friday, September 28th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.60%. National General’s payout ratio is currently 14.68%.
In related news, COO Peter A. Rendall sold 6,195 shares of the business’s stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $27.75, for a total value of $171,911.25. Following the sale, the chief operating officer now directly owns 17 shares in the company, valued at approximately $471.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.40% of the stock is owned by insiders.
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. 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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