BidaskClub upgraded shares of National General (NASDAQ:NGHC) from a sell rating to a hold rating in a research note published on Saturday, April 21st.
Several other equities analysts also recently commented on the stock. Morgan Stanley increased their target price on shares of National General from $23.00 to $25.00 and gave the stock an equal weight rating in a research report on Thursday, March 1st. B. Riley increased their target price on shares of National General from $29.00 to $31.00 and gave the stock a buy rating in a research report on Wednesday, March 21st. ValuEngine downgraded shares of National General from a buy rating to a hold rating in a research report on Monday, April 2nd. Mizuho increased their target price on shares of National General from $29.00 to $31.00 and gave the stock a buy rating in a research report on Wednesday, March 21st. Finally, Zacks Investment Research raised shares of National General from a sell rating to a hold rating and set a $22.00 target price on the stock in a research report on Saturday, January 6th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $27.86.
Shares of NASDAQ:NGHC opened at $26.43 on Friday. The firm has a market cap of $2.73 billion, a P/E ratio of 24.25 and a beta of 0.93. National General has a 1 year low of $16.21 and a 1 year high of $27.93.
National General (NASDAQ:NGHC) last posted its earnings results on Monday, May 7th. The insurance provider reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.10. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.11 billion. National General had a net margin of 1.67% and a return on equity of 7.10%. The business’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.33 earnings per share. analysts predict that National General will post 2.23 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 16th. Stockholders of record on Monday, July 2nd will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.61%. The ex-dividend date is Friday, June 29th. National General’s dividend payout ratio is currently 14.68%.
In other news, COO Peter A. Rendall sold 6,637 shares of the firm’s stock in a transaction dated Thursday, March 29th. The stock was sold at an average price of $24.31, for a total value of $161,345.47. Following the sale, the chief operating officer now directly owns 17 shares of the company’s stock, valued at $413.27. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Thomas Newgarden sold 5,084 shares of the firm’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $24.26, for a total value of $123,337.84. Following the completion of the sale, the executive vice president now directly owns 4,766 shares in the company, valued at $115,623.16. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in NGHC. SG Americas Securities LLC acquired a new stake in National General during the third quarter worth about $134,000. Aperio Group LLC acquired a new stake in National General during the first quarter worth about $209,000. US Bancorp DE grew its position in National General by 80.3% during the fourth quarter. US Bancorp DE now owns 12,332 shares of the insurance provider’s stock worth $242,000 after buying an additional 5,492 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in National General during the fourth quarter worth about $361,000. Finally, Legal & General Group Plc grew its position in National General by 34.6% during the third quarter. Legal & General Group Plc now owns 22,746 shares of the insurance provider’s stock worth $433,000 after buying an additional 5,849 shares in the last quarter. 46.89% of the stock is currently owned by institutional investors and hedge funds.
About National General
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.