Federated National Holding Co. (FNHC) Sees Unusually-High Trading Volume
Federated National Holding Co. (NASDAQ:FNHC) saw unusually-high trading volume on Friday . Approximately 210,373 shares changed hands during trading, an increase of 129% from the previous session’s volume of 91,869 shares.The stock last traded at $18.51 and had previously closed at $18.02.
Separately, Zacks Investment Research upgraded shares of Federated National Holding from a “strong sell” rating to a “hold” rating in a research report on Monday, July 11th.
The stock has a market capitalization of $255.10 million and a P/E ratio of 8.53. The firm has a 50 day moving average price of $20.22 and a 200-day moving average price of $21.18.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Monday, August 1st will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date is Thursday, July 28th.
A number of hedge funds recently made changes to their positions in the stock. Wells Fargo & Company MN increased its stake in shares of Federated National Holding by 27.7% in the fourth quarter. Wells Fargo & Company MN now owns 327,603 shares of the company’s stock worth $9,683,000 after buying an additional 71,143 shares in the last quarter. Schroder Investment Management Group bought a new stake in shares of Federated National Holding during the fourth quarter worth about $2,868,000. Finally, California Public Employees Retirement System increased its stake in shares of Federated National Holding by 29.6% in the fourth quarter. California Public Employees Retirement System now owns 77,900 shares of the company’s stock worth $2,303,000 after buying an additional 17,800 shares in the last quarter.
Federated National Holding Company (FNHC) is an insurance holding company that controls all steps in the insurance underwriting, distribution and claims processes through its subsidiaries and its contractual relationships with its independent agents and general agents. The Company is authorized to underwrite homeowners’ multi-peril (homeowners), commercial general liability, federal flood, personal auto and various other lines of insurance in Florida and various other states.