Zacks Investment Research upgraded shares of National General (NASDAQ:NGHC) from a hold rating to a buy rating in a research report sent to investors on Wednesday. They currently have $30.00 price target on the insurance provider’s stock.
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. “
A number of other equities analysts have also weighed in on NGHC. BidaskClub upgraded shares of National General from a hold rating to a buy rating in a research report on Friday, June 1st. Keefe, Bruyette & Woods lowered shares of National General from an outperform rating to a market perform rating and set a $27.00 price target for the company. in a research report on Monday, June 4th. JMP Securities upped their price target on shares of National General from $30.00 to $32.00 and gave the stock a market outperform rating in a research report on Monday, June 11th. ValuEngine lowered shares of National General from a buy rating to a hold rating in a research report on Thursday, August 2nd. Finally, Morgan Stanley upped their price target on shares of National General from $27.00 to $29.00 and gave the stock an equal weight rating in a research report on Tuesday, August 14th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. National General presently has an average rating of Buy and an average target price of $30.00.
National General (NASDAQ:NGHC) last announced its earnings results on Monday, August 6th. The insurance provider reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.01. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.10 billion. National General had a net margin of 3.36% and a return on equity of 12.35%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.11 earnings per share. analysts predict that National General will post 2.27 EPS for the current fiscal year.
The business also recently announced 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. This represents a $0.16 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend is Friday, September 28th. National General’s dividend payout ratio (DPR) is presently 14.68%.
In other news, COO Peter A. Rendall sold 6,195 shares of the business’s stock in a transaction on Monday, August 13th. The shares were sold at an average price of $27.75, for a total value of $171,911.25. Following the transaction, the chief operating officer now owns 17 shares of the company’s stock, valued at $471.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 3.40% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in NGHC. Meeder Asset Management Inc. purchased a new stake in National General during the second quarter valued at $102,000. SG Americas Securities LLC purchased a new stake in National General during the second quarter valued at $118,000. Aperio Group LLC purchased a new stake in National General during the first quarter valued at $209,000. Principal Financial Group Inc. purchased a new stake in National General during the first quarter valued at $214,000. Finally, Amalgamated Bank purchased a new stake in National General during the second quarter valued at $238,000. 48.41% of the stock is currently owned by institutional investors.
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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