Federated National (NASDAQ:FNHC) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Thursday. The brokerage presently has a $27.00 price target on the insurance provider’s stock. Zacks Investment Research‘s price target points to a potential upside of 21.24% from the stock’s current price.

According to Zacks, “FedNat Holding Company operates as a holding company. It provides insurance underwriting, distribution, claims processing and premium financing services through its subsidiaries. The company underwrites non-standard and standard personal automobile insurance and mobile home property and casualty insurance. FedNat Holding Company, formerly known as Federated National Holding Company, is based in Florida, United States. “

A number of other research firms have also recently issued reports on FNHC. BidaskClub cut shares of Federated National from a “buy” rating to a “hold” rating in a report on Tuesday, September 11th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $27.00 price target on shares of Federated National in a report on Wednesday, August 8th. Two investment analysts have rated the stock with a hold rating, one has assigned a buy rating and two have given a strong buy rating to the stock. Federated National currently has an average rating of “Buy” and a consensus target price of $27.00.

NASDAQ:FNHC opened at $22.27 on Thursday. Federated National has a 52 week low of $12.84 and a 52 week high of $26.76. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.51 and a quick ratio of 0.51. The company has a market cap of $324.41 million, a P/E ratio of 37.12 and a beta of 1.18.

Federated National (NASDAQ:FNHC) last posted its quarterly earnings results on Monday, August 6th. The insurance provider reported $0.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.19. The business had revenue of $95.53 million during the quarter, compared to analysts’ expectations of $89.55 million. Federated National had a net margin of 4.42% and a return on equity of 8.13%. As a group, equities analysts anticipate that Federated National will post 2.25 EPS for the current fiscal year.

In other Federated National news, Director Richard W. Wilcox, Jr. sold 7,500 shares of the firm’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $25.35, for a total value of $190,125.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 10.50% of the company’s stock.

Several large investors have recently added to or reduced their stakes in FNHC. Acadian Asset Management LLC acquired a new stake in shares of Federated National in the second quarter worth $210,000. Baird Financial Group Inc. acquired a new stake in shares of Federated National in the second quarter worth $225,000. Engineers Gate Manager LP acquired a new stake in shares of Federated National in the second quarter worth $278,000. Shaker Investments LLC OH acquired a new stake in shares of Federated National in the second quarter worth $300,000. Finally, State Board of Administration of Florida Retirement System acquired a new stake in shares of Federated National in the second quarter worth $313,000. Hedge funds and other institutional investors own 59.99% of the company’s stock.

About Federated National

FedNat Holding Company, through its subsidiaries, engages in insurance underwriting, distribution, and claims processing business in the United States. The company underwrites homeowner's multi-peril, personal automobile, commercial general liability, federal flood, and other lines of insurance.

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