National General Holdings Corp (NGHC) Rating Increased to Hold at Zacks Investment Research

National General Holdings Corp (NASDAQ:NGHC) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Thursday.

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. “

Other analysts have also issued reports about the company. BidaskClub lowered National General Holdings Corp from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 9th. Morgan Stanley reduced their price objective on National General Holdings Corp from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 10th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $27.00 price objective on shares of National General Holdings Corp in a research note on Tuesday, July 25th. FBR & Co reaffirmed a “buy” rating and issued a $29.00 price objective on shares of National General Holdings Corp in a research note on Monday, September 18th. Finally, TheStreet lowered National General Holdings Corp from a “b-” rating to a “c” rating in a research note on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $25.75.

National General Holdings Corp (NASDAQ:NGHC) opened at 20.40 on Thursday. The company’s 50-day moving average is $18.02 and its 200 day moving average is $20.72. The firm has a market cap of $2.18 billion, a P/E ratio of 27.57 and a beta of 1.32. National General Holdings Corp has a 12 month low of $16.21 and a 12 month high of $26.99.

National General Holdings Corp (NASDAQ:NGHC) last released its quarterly earnings data on Monday, August 7th. The insurance provider reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.28). The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $966.51 million. National General Holdings Corp had a net margin of 2.13% and a return on equity of 7.80%. The business’s quarterly revenue was up 36.2% compared to the same quarter last year. During the same period last year, the business earned $0.41 earnings per share. Equities research analysts expect that National General Holdings Corp will post $1.39 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “National General Holdings Corp (NGHC) Rating Increased to Hold at Zacks Investment Research” was originally posted by Chaffey Breeze and is the property of of Chaffey Breeze. If you are accessing this news story on another publication, it was illegally stolen and republished in violation of United States and international copyright and trademark laws. The correct version of this news story can be viewed at https://www.chaffeybreeze.com/2017/10/07/national-general-holdings-corp-nghc-rating-increased-to-hold-at-zacks-investment-research.html.

In other news, CEO Barry Karfunkel purchased 25,000 shares of the business’s stock in a transaction dated Thursday, August 10th. The shares were purchased at an average cost of $18.25 per share, with a total value of $456,250.00. Following the completion of the purchase, the chief executive officer now owns 110,073 shares of the company’s stock, valued at approximately $2,008,832.25. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 3.43% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Legal & General Group Plc boosted its stake in shares of National General Holdings Corp by 2.1% during the second quarter. Legal & General Group Plc now owns 16,897 shares of the insurance provider’s stock valued at $357,000 after purchasing an additional 352 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of National General Holdings Corp by 1.3% during the first quarter. Principal Financial Group Inc. now owns 34,772 shares of the insurance provider’s stock valued at $826,000 after purchasing an additional 462 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of National General Holdings Corp by 1.7% during the second quarter. The Manufacturers Life Insurance Company now owns 40,099 shares of the insurance provider’s stock valued at $845,000 after purchasing an additional 669 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of National General Holdings Corp by 1.6% during the second quarter. Rhumbline Advisers now owns 57,281 shares of the insurance provider’s stock valued at $1,209,000 after purchasing an additional 886 shares in the last quarter. Finally, Wedge Capital Management L L P NC boosted its stake in shares of National General Holdings Corp by 4.9% during the second quarter. Wedge Capital Management L L P NC now owns 22,470 shares of the insurance provider’s stock valued at $474,000 after purchasing an additional 1,054 shares in the last quarter. 45.92% of the stock is currently owned by hedge funds and other institutional investors.

About National General Holdings Corp

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.

Receive News & Ratings for National General Holdings Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National General Holdings Corp and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply