National General Holdings Corp (NGHC) Position Lowered by Schroder Investment Management Group
Schroder Investment Management Group cut its position in shares of National General Holdings Corp (NASDAQ:NGHC) by 36.9% in the second quarter, HoldingsChannel.com reports. The firm owned 859,448 shares of the insurance provider’s stock after selling 503,196 shares during the quarter. Schroder Investment Management Group’s holdings in National General were worth $22,827,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. bought a new stake in National General during the 1st quarter valued at about $214,000. Rhumbline Advisers lifted its holdings in National General by 26.9% during the 2nd quarter. Rhumbline Advisers now owns 60,364 shares of the insurance provider’s stock valued at $1,589,000 after buying an additional 12,785 shares in the last quarter. Sei Investments Co. lifted its holdings in National General by 6.1% during the 2nd quarter. Sei Investments Co. now owns 48,237 shares of the insurance provider’s stock valued at $1,270,000 after buying an additional 2,754 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in National General during the 2nd quarter valued at about $102,000. Finally, Strs Ohio bought a new stake in National General during the 2nd quarter valued at about $468,000. 48.41% of the stock is owned by hedge funds and other institutional investors.
In other news, COO Peter A. Rendall sold 6,195 shares of the business’s stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $27.75, for a total value of $171,911.25. Following the completion of the sale, the chief operating officer now owns 17 shares in the company, valued at approximately $471.75. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 3.40% of the company’s stock.
National General (NASDAQ:NGHC) last posted its quarterly earnings results on Monday, August 6th. The insurance provider reported $0.54 EPS for the quarter, beating the consensus estimate of $0.53 by $0.01. National General had a net margin of 3.36% and a return on equity of 12.35%. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the previous year, the business posted $0.11 EPS. The company’s quarterly revenue was down .5% compared to the same quarter last year. On average, sell-side analysts expect that National General Holdings Corp will post 2.27 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Monday, October 1st will be issued a $0.04 dividend. The ex-dividend date of this dividend is Friday, September 28th. This represents a $0.16 annualized dividend and a dividend yield of 0.66%. National General’s dividend payout ratio is currently 14.68%.
NGHC has been the subject of a number of research analyst reports. BidaskClub lowered shares of National General from a “sell” rating to a “strong sell” rating in a report on Wednesday, September 12th. Zacks Investment Research upgraded shares of National General from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a report on Wednesday, September 26th. Morgan Stanley lifted their price objective on shares of National General from $27.00 to $29.00 and gave the company an “equal weight” rating in a report on Tuesday, August 14th. Finally, ValuEngine lowered shares of National General from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $30.00.
About National General
National General Holdings Corp., a specialty personal lines insurance holding company, provides various insurance products and services in the United States. The company operates in two segments, Property and Casualty, and Accident and Health. The Property and Casualty segment offers standard, preferred, and nonstandard automobile insurance products; and recreational vehicle (RV) insurance products that carry RV-specific endorsements comprising automatic personal effects coverage, optional replacement cost coverage, RV storage coverage, and full-time liability coverage.
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