National General Holdings Corp. (NGHC) Shares Down 1.9%
National General Holdings Corp. (NASDAQ:NGHC) shares dropped 1.9% during trading on Wednesday . The company traded as low as $20.64 and last traded at $20.64, with a volume of 174,833 shares trading hands. The stock had previously closed at $21.05.
NGHC has been the topic of a number of research analyst reports. Zacks Investment Research raised National General Holdings Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, March 9th. FBR & Co reaffirmed a “buy” rating and set a $29.00 price objective on shares of National General Holdings Corp. in a research note on Monday, April 4th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. National General Holdings Corp. presently has an average rating of “Buy” and an average target price of $25.30.
The firm has a market cap of $2.17 billion and a price-to-earnings ratio of 15.27. The firm has a 50-day moving average of $21.13 and a 200 day moving average of $20.88.
National General Holdings Corp. (NASDAQ:NGHC) last released its quarterly earnings data on Monday, May 2nd. The company reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.10. The business earned $776 million during the quarter, compared to analyst estimates of $694.38 million. During the same quarter in the previous year, the company earned $0.41 EPS. The firm’s revenue was up 49.6% compared to the same quarter last year. On average, equities analysts forecast that National General Holdings Corp. will post $1.88 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Friday, July 1st will be paid a $0.03 dividend. The ex-dividend date is Wednesday, June 29th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.58%.
Other hedge funds have added to or reduced their stakes in the company. Wells Fargo & Company MN raised its stake in National General Holdings Corp. by 36.3% in the fourth quarter. Wells Fargo & Company MN now owns 2,057,210 shares of the company’s stock worth $44,972,000 after buying an additional 548,336 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in National General Holdings Corp. by 16.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,793,285 shares of the company’s stock worth $61,061,000 after buying an additional 397,992 shares during the last quarter. Pembroke Management LTD raised its stake in National General Holdings Corp. by 24.8% in the fourth quarter. Pembroke Management LTD now owns 1,013,300 shares of the company’s stock worth $22,150,000 after buying an additional 201,400 shares during the last quarter. Monarch Partners Asset Management LLC acquired a new stake in National General Holdings Corp. during the fourth quarter worth $3,183,000. Finally, Russell Frank Co raised its stake in National General Holdings Corp. by 179.6% in the fourth quarter. Russell Frank Co now owns 200,956 shares of the company’s stock worth $4,451,000 after buying an additional 129,096 shares during the last quarter.
National General Holdings Corp. is a 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.