Zacks Investment Research upgraded shares of Federated National (NASDAQ:FNHC) from a strong sell rating to a hold rating in a research note issued to investors on Tuesday morning.

According to Zacks, “Federated National Holding Company is an insurance holding company, which through its subsidiaries, controls all aspects of the insurance underwriting, distribution and claims processes. The Company underwrites homeowners’ property and casualty, commercial general liability, commercial residential property, flood, personal automobile and commercial automobile. It is also licensed to and has the facilities to market and underwrite policies for other insurance carriers’ lines of business such as, inland marine, workers’ compensation and personal umbrella insurance. Federated National Holding Company, formerly known as 21st Century Holding Company, is based in Sunrise, Florida. “

A number of other equities research analysts also recently issued reports on FNHC. Keefe, Bruyette & Woods set a $22.00 price objective on shares of Federated National and gave the company a buy rating in a research report on Thursday, December 21st. ValuEngine raised shares of Federated National from a sell rating to a hold rating in a research report on Friday, December 29th.

Shares of Federated National (NASDAQ FNHC) traded down $0.31 on Tuesday, reaching $16.02. 39,800 shares of the company’s stock were exchanged, compared to its average volume of 49,017. The stock has a market cap of $209.90, a price-to-earnings ratio of -22.89 and a beta of 1.52. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.55 and a current ratio of 0.55. Federated National has a 1-year low of $9.78 and a 1-year high of $21.19.

Federated National announced that its Board of Directors has initiated a share repurchase plan on Tuesday, December 19th that allows the company to buyback $10.00 million in shares. This buyback authorization allows the insurance provider to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 1st will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Wednesday, January 31st. Federated National’s payout ratio is -45.71%.

Several hedge funds have recently modified their holdings of FNHC. Capital Returns Management LLC grew its position in shares of Federated National by 31.5% during the 3rd quarter. Capital Returns Management LLC now owns 805,673 shares of the insurance provider’s stock valued at $12,577,000 after acquiring an additional 192,885 shares during the period. Wedge Capital Management L L P NC bought a new position in Federated National in the 3rd quarter worth $1,533,000. Heartland Advisors Inc. boosted its holdings in Federated National by 44.1% in the 3rd quarter. Heartland Advisors Inc. now owns 288,140 shares of the insurance provider’s stock worth $4,498,000 after buying an additional 88,140 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Federated National by 9.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 955,222 shares of the insurance provider’s stock worth $15,284,000 after buying an additional 81,398 shares during the period. Finally, Citadel Advisors LLC bought a new position in Federated National in the 2nd quarter worth $1,216,000. 62.25% of the stock is owned by hedge funds and other institutional investors.

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About Federated National

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.

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