National General (NGHC) Upgraded to “Hold” at BidaskClub

BidaskClub upgraded shares of National General (NASDAQ:NGHC) from a sell rating to a hold rating in a report published on Wednesday.

NGHC has been the subject of a number of other research reports. B. Riley reiterated a buy rating and issued a $29.00 price objective on shares of National General in a report on Monday, November 6th. Keefe, Bruyette & Woods reiterated a buy rating and issued a $27.00 price objective on shares of National General in a report on Tuesday, August 29th. FBR & Co reiterated a buy rating and issued a $29.00 price objective on shares of National General in a report on Monday, September 18th. Zacks Investment Research downgraded National General from a buy rating to a hold rating in a report on Friday, August 11th. Finally, Morgan Stanley decreased their price objective on National General from $25.00 to $23.00 and set an equal weight rating for the company in a report on Thursday, August 10th. One investment 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 stock has an average rating of Hold and an average price target of $26.40.

National General (NGHC) traded down $0.16 on Wednesday, reaching $20.82. The company’s stock had a trading volume of 240,800 shares, compared to its average volume of 264,127. The company has a market capitalization of $2,237.95, a P/E ratio of 20.37 and a beta of 1.33. National General has a twelve month low of $16.21 and a twelve month high of $26.99.

National General (NASDAQ:NGHC) last posted its quarterly earnings data on Wednesday, November 8th. The insurance provider reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.11. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.09 billion. National General had a return on equity of 7.30% and a net margin of 2.62%. The firm’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.31 earnings per share. sell-side analysts anticipate that National General will post 0.98 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Tuesday, January 2nd will be issued a dividend of $0.04 per share. The ex-dividend date is Friday, December 29th. This represents a $0.16 annualized dividend and a dividend yield of 0.77%. National General’s payout ratio is presently 16.49%.

In related news, Director John Drake Nichols purchased 24,500 shares of National General stock in a transaction dated Monday, November 27th. The stock was purchased at an average cost of $20.45 per share, for a total transaction of $501,025.00. Following the completion of the acquisition, the director now directly owns 24,500 shares of the company’s stock, valued at $501,025. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 3.43% of the stock is owned by company insiders.

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of National General by 1.6% during the second quarter. Vanguard Group Inc. now owns 4,185,920 shares of the insurance provider’s stock valued at $88,323,000 after acquiring an additional 67,585 shares in the last quarter. Royal Bank of Canada increased its holdings in National General by 22.8% in the 2nd quarter. Royal Bank of Canada now owns 3,769,979 shares of the insurance provider’s stock worth $79,546,000 after buying an additional 699,595 shares in the last quarter. Wells Fargo & Company MN increased its holdings in National General by 20.9% in the 3rd quarter. Wells Fargo & Company MN now owns 2,581,523 shares of the insurance provider’s stock worth $49,332,000 after buying an additional 446,473 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its holdings in National General by 55.4% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 2,505,789 shares of the insurance provider’s stock worth $47,886,000 after buying an additional 893,802 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in National General by 12.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,825,586 shares of the insurance provider’s stock worth $34,886,000 after buying an additional 202,712 shares in the last quarter. Hedge funds and other institutional investors own 45.63% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “National General (NGHC) Upgraded to “Hold” at BidaskClub” was first reported by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are reading this report on another website, it was copied illegally and reposted in violation of US & international trademark & copyright laws. The correct version of this report can be read at https://www.chaffeybreeze.com/2017/12/07/national-general-nghc-upgraded-to-hold-at-bidaskclub.html.

National General Company Profile

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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