Advisors Asset Management Inc. cut its stake in shares of National General Holdings Corp (NASDAQ:NGHC) by 14.0% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 17,143 shares of the insurance provider’s stock after selling 2,783 shares during the period. Advisors Asset Management Inc.’s holdings in National General were worth $328,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Teachers Advisors LLC increased its position in National General by 2.5% during the first quarter. Teachers Advisors LLC now owns 81,998 shares of the insurance provider’s stock worth $1,948,000 after purchasing an additional 2,036 shares during the last quarter. State Street Corp increased its position in National General by 0.6% during the first quarter. State Street Corp now owns 945,202 shares of the insurance provider’s stock worth $22,459,000 after purchasing an additional 6,103 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in National General by 8.8% during the second quarter. Russell Investments Group Ltd. now owns 38,503 shares of the insurance provider’s stock worth $812,000 after buying an additional 3,126 shares during the period. Sei Investments Co. boosted its stake in National General by 495.9% during the second quarter. Sei Investments Co. now owns 18,007 shares of the insurance provider’s stock worth $380,000 after buying an additional 14,985 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its stake in National General by 5.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 241,138 shares of the insurance provider’s stock worth $5,089,000 after buying an additional 12,235 shares during the period. Institutional investors own 45.63% of the company’s stock.
In other National General news, Director John Drake Nichols acquired 24,500 shares of the stock in a transaction dated Monday, November 27th. The stock was acquired at an average price of $20.45 per share, with a total value of $501,025.00. Following the completion of the purchase, the director now owns 24,500 shares in the company, valued at approximately $501,025. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 3.43% of the company’s stock.
National General (NASDAQ:NGHC) last posted its quarterly earnings data on Wednesday, November 8th. The insurance provider reported $0.24 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter last year, the firm posted $0.31 earnings per share. The business’s revenue for the quarter was up 23.3% compared to the same quarter last year. analysts anticipate that National General Holdings Corp will post 0.98 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Tuesday, January 2nd will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend is Friday, December 29th. National General’s payout ratio is 16.49%.
Several research analysts have weighed in on NGHC shares. Zacks Investment Research raised shares of National General from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 5th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $27.00 target price on shares of National General in a research note on Tuesday, August 29th. FBR & Co reaffirmed a “buy” rating and set a $29.00 target price on shares of National General in a research note on Monday, September 18th. B. Riley reaffirmed a “buy” rating and set a $29.00 target price on shares of National General in a research note on Monday, November 6th. Finally, Morgan Stanley lowered their target price on shares of National General from $25.00 to $23.00 and set an “equal weight” rating for the company in a research note on Thursday, August 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $26.40.
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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.
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