William Blair Equities Analysts Decrease Earnings Estimates for National General Holdings Corp (NGHC)
National General Holdings Corp (NASDAQ:NGHC) – Research analysts at William Blair dropped their Q1 2017 EPS estimates for National General Holdings Corp in a research note issued to investors on Wednesday. William Blair analyst A. Klauber now anticipates that the insurance provider will post earnings of $0.40 per share for the quarter, down from their prior forecast of $0.50. William Blair also issued estimates for National General Holdings Corp’s Q3 2017 earnings at $0.46 EPS, FY2017 earnings at $1.90 EPS and Q1 2018 earnings at $0.55 EPS.
National General Holdings Corp (NASDAQ:NGHC) last issued its quarterly earnings data on Monday, February 27th. The insurance provider reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.07. National General Holdings Corp had a net margin of 4.36% and a return on equity of 12.60%. The firm earned $740.50 million during the quarter, compared to the consensus estimate of $911.45 million. During the same quarter in the previous year, the firm posted $0.39 EPS. The company’s revenue for the quarter was up 19.8% compared to the same quarter last year.
Separately, Zacks Investment Research lowered shares of National General Holdings Corp from a “hold” rating to a “sell” rating in a research report on Thursday, March 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $25.00.
Shares of National General Holdings Corp (NASDAQ:NGHC) opened at 22.21 on Thursday. The company has a market cap of $2.37 billion, a P/E ratio of 16.21 and a beta of 1.32. National General Holdings Corp has a 12 month low of $18.04 and a 12 month high of $26.99. The stock’s 50 day moving average is $23.24 and its 200-day moving average is $23.44.
The business also recently announced a quarterly dividend, which was paid on Wednesday, April 19th. Stockholders of record on Monday, April 3rd were given a $0.04 dividend. The ex-dividend date was Thursday, March 30th. This represents a $0.16 annualized dividend and a dividend yield of 0.72%. National General Holdings Corp’s dividend payout ratio (DPR) is 13.11%.
In related news, CEO Barry Karfunkel bought 49,978 shares of the company’s stock in a transaction dated Tuesday, March 28th. The shares were acquired at an average price of $22.87 per share, for a total transaction of $1,142,996.86. Following the completion of the transaction, the chief executive officer now directly owns 7,692 shares in the company, valued at $175,916.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Robert Karfunkel bought 25,000 shares of the company’s stock in a transaction dated Thursday, March 30th. The stock was bought at an average price of $23.00 per share, for a total transaction of $575,000.00. Following the transaction, the insider now owns 53,521 shares of the company’s stock, valued at $1,230,983. The disclosure for this purchase can be found here. In the last quarter, insiders bought 131,578 shares of company stock worth $3,014,585. Company insiders own 14.10% of the company’s stock.
Several hedge funds have recently made changes to their positions in NGHC. Ameriprise Financial Inc. raised its stake in shares of National General Holdings Corp by 21.5% in the third quarter. Ameriprise Financial Inc. now owns 1,435,133 shares of the insurance provider’s stock valued at $31,914,000 after buying an additional 254,411 shares during the period. Bessemer Group Inc. raised its position in National General Holdings Corp by 11.6% in the fourth quarter. Bessemer Group Inc. now owns 61,600 shares of the insurance provider’s stock worth $1,539,000 after buying an additional 6,400 shares during the last quarter. BlackRock Investment Management LLC raised its position in National General Holdings Corp by 1.1% in the third quarter. BlackRock Investment Management LLC now owns 191,559 shares of the insurance provider’s stock worth $4,260,000 after buying an additional 2,055 shares during the last quarter. Pembroke Management LTD raised its position in National General Holdings Corp by 0.6% in the third quarter. Pembroke Management LTD now owns 1,073,600 shares of the insurance provider’s stock worth $23,876,000 after buying an additional 6,200 shares during the last quarter. Finally, Delphi Management Inc. MA acquired a new position in National General Holdings Corp during the third quarter worth $1,738,000. Institutional investors and hedge funds own 41.83% of the company’s stock.
National General Holdings Corp Company Profile
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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