National General (NGHC) Upgraded by Zacks Investment Research to Hold
Zacks Investment Research upgraded shares of National General (NASDAQ:NGHC) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.
According to Zacks, “National General Holdings Corp. is a specialty personal lines insurance holding company. The Company, through its subsidiaries, provides personal and commercial automobile insurance, recreational vehicle and motorcycle insurance, supplemental health insurance products and other niche insurance products. It operates in two segments, Property and Casualty and Accident and Health. The Property and Casualty segment offers standard and preferred automobile and sub-standard automobile insurance policies; Recreational vehicle insurance policies; commercial automobile insurance policies; and motorcycle insurance policies for various types of motorcycles, as well as golf carts and all-terrain vehicles. The Accident and Health segment provides accident and non-major medical health insurance products. National General Holdings Corp. is headquartered in New York. “
NGHC has been the topic of several other reports. BidaskClub upgraded shares of National General from a sell rating to a hold rating in a research note on Wednesday, December 6th. Keefe, Bruyette & Woods reiterated a buy rating on shares of National General in a research note on Friday, September 29th. FBR & Co reiterated a buy rating and issued a $29.00 target price on shares of National General in a research note on Monday, September 18th. B. Riley reiterated a buy rating and issued a $29.00 target price on shares of National General in a research note on Monday, November 6th. Finally, TheStreet upgraded shares of National General from a c rating to a b rating in a research note on Tuesday, November 21st. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $26.40.
National General (NASDAQ:NGHC) last posted its earnings results on Wednesday, November 8th. The insurance provider reported $0.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.11. National General had a net margin of 2.62% and a return on equity of 7.30%. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the prior year, the company posted $0.31 EPS. The business’s revenue for the quarter was up 23.3% compared to the same quarter last year. analysts expect that National General will post 0.93 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Tuesday, January 2nd will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.82%. The ex-dividend date is Friday, December 29th. National General’s dividend payout ratio (DPR) is currently 16.49%.
In related news, Director John Drake Nichols acquired 24,500 shares of the stock in a transaction dated Monday, November 27th. The shares were purchased at an average price of $20.45 per share, for a total transaction of $501,025.00. Following the transaction, the director now owns 24,500 shares in the company, valued at approximately $501,025. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 3.43% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Prudential Financial Inc. raised its position in shares of National General by 19.1% during the 3rd quarter. Prudential Financial Inc. now owns 416,380 shares of the insurance provider’s stock valued at $7,957,000 after buying an additional 66,740 shares in the last quarter. First Trust Advisors LP raised its position in National General by 26.0% in the 2nd quarter. First Trust Advisors LP now owns 107,090 shares of the insurance provider’s stock worth $2,260,000 after purchasing an additional 22,109 shares during the period. Schwab Charles Investment Management Inc. raised its position in National General by 5.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 241,138 shares of the insurance provider’s stock worth $5,089,000 after purchasing an additional 12,235 shares during the period. Dimensional Fund Advisors LP raised its position in National General by 12.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,622,874 shares of the insurance provider’s stock worth $34,244,000 after purchasing an additional 177,415 shares during the period. Finally, LSV Asset Management raised its position in National General by 60.1% in the 2nd quarter. LSV Asset Management now owns 187,986 shares of the insurance provider’s stock worth $3,966,000 after purchasing an additional 70,600 shares during the period. Hedge funds and other institutional investors own 45.62% of the company’s stock.
About National General
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for National General Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National General and related companies with MarketBeat.com's FREE daily email newsletter.