National General Holdings Corp (NGHC) Hits New 1-Year Low at $16.95
National General Holdings Corp (NASDAQ:NGHC) shares hit a new 52-week low during mid-day trading on Monday . The company traded as low as $16.95 and last traded at $16.95, with a volume of 328,425 shares changing hands. The stock had previously closed at $17.17.
A number of research analysts have issued reports on NGHC shares. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $27.00 target price on shares of National General Holdings Corp in a report on Tuesday, August 29th. TheStreet cut shares of National General Holdings Corp from a “b-” rating to a “c” rating in a report on Tuesday, August 8th. Morgan Stanley dropped their target price on shares of National General Holdings Corp from $25.00 to $23.00 and set an “equal weight” rating for the company in a report on Thursday, August 10th. ValuEngine cut shares of National General Holdings Corp from a “buy” rating to a “hold” rating in a report on Thursday, May 25th. Finally, BidaskClub raised shares of National General Holdings Corp from a “sell” rating to a “hold” rating in a report on Monday, July 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $24.67.
The firm has a 50-day moving average price of $19.27 and a 200 day moving average price of $21.66. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of 22.30 and a beta of 1.28.
National General Holdings Corp (NASDAQ:NGHC) last issued its quarterly earnings results on Monday, August 7th. The insurance provider reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by $0.28. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $966.51 million. National General Holdings Corp had a return on equity of 7.80% and a net margin of 2.13%. The company’s revenue was up 36.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.41 earnings per share. Equities analysts predict that National General Holdings Corp will post $1.37 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Sunday, October 1st will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend is Thursday, September 28th. National General Holdings Corp’s dividend payout ratio is currently 22.22%.
In related news, COO Peter A. Rendall sold 30,901 shares of the business’s stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $21.06, for a total value of $650,775.06. Following the sale, the chief operating officer now directly owns 126 shares in the company, valued at approximately $2,653.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Barry Karfunkel bought 25,000 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was acquired at an average price of $18.25 per share, for a total transaction of $456,250.00. Following the completion of the acquisition, the chief executive officer now directly owns 110,073 shares in the company, valued at $2,008,832.25. The disclosure for this purchase can be found here. 3.43% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA raised its holdings in shares of National General Holdings Corp by 530.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,663 shares of the insurance provider’s stock worth $119,000 after purchasing an additional 4,765 shares in the last quarter. Pacad Investment Ltd. bought a new stake in shares of National General Holdings Corp in the 2nd quarter worth approximately $143,000. Sciencast Management LP bought a new stake in shares of National General Holdings Corp in the 2nd quarter worth approximately $211,000. Comerica Bank bought a new stake in shares of National General Holdings Corp in the 2nd quarter worth approximately $217,000. Finally, Susquehanna International Group LLP bought a new stake in shares of National General Holdings Corp in the 2nd quarter worth approximately $218,000. Institutional investors and hedge funds own 45.97% of the company’s stock.
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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.