Public Employees Retirement System of Ohio boosted its stake in shares of National General Holdings Corp (NASDAQ:NGHC) by 25.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 41,919 shares of the insurance provider’s stock after buying an additional 8,629 shares during the period. Public Employees Retirement System of Ohio’s holdings in National General were worth $962,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Wells Fargo & Company MN increased its holdings in shares of National General by 0.6% in the 1st quarter. Wells Fargo & Company MN now owns 3,157,789 shares of the insurance provider’s stock valued at $74,933,000 after purchasing an additional 17,725 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of National General by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,821,475 shares of the insurance provider’s stock valued at $68,307,000 after purchasing an additional 41,234 shares during the period. Federated Investors Inc. PA increased its holdings in shares of National General by 57.4% in the 1st quarter. Federated Investors Inc. PA now owns 1,073,444 shares of the insurance provider’s stock valued at $25,473,000 after purchasing an additional 391,253 shares during the period. Prudential Financial Inc. increased its holdings in shares of National General by 38.0% in the 2nd quarter. Prudential Financial Inc. now owns 939,399 shares of the insurance provider’s stock valued at $21,551,000 after purchasing an additional 258,904 shares during the period. Finally, State of Wisconsin Investment Board increased its holdings in shares of National General by 29.7% in the 1st quarter. State of Wisconsin Investment Board now owns 849,400 shares of the insurance provider’s stock valued at $20,156,000 after purchasing an additional 194,400 shares during the period. Hedge funds and other institutional investors own 52.13% of the company’s stock.
A number of equities analysts have recently weighed in on the company. ValuEngine downgraded National General from a “hold” rating to a “sell” rating in a report on Thursday, June 27th. Compass Point set a $36.00 target price on National General and gave the company a “hold” rating in a report on Monday, June 24th. Zacks Investment Research upgraded National General from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a report on Saturday, July 27th. BidaskClub downgraded National General from a “hold” rating to a “sell” rating in a report on Saturday. Finally, B. Riley upped their target price on National General from $33.00 to $36.00 and gave the company a “buy” rating in a report on Friday, May 31st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. National General has a consensus rating of “Hold” and an average target price of $31.17.
Shares of NASDAQ NGHC traded down $0.17 during trading hours on Friday, hitting $24.10. The stock had a trading volume of 222,182 shares, compared to its average volume of 171,411. The company has a market capitalization of $2.76 billion, a P/E ratio of 11.53 and a beta of 0.67. The firm’s 50-day moving average price is $23.93 and its two-hundred day moving average price is $23.83. National General Holdings Corp has a 52 week low of $21.22 and a 52 week high of $28.89.
National General (NASDAQ:NGHC) last announced its quarterly earnings results on Monday, July 29th. The insurance provider reported $0.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.07. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.37 billion. National General had a return on equity of 16.90% and a net margin of 5.44%. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.54 EPS. Equities research analysts anticipate that National General Holdings Corp will post 2.7 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 16th. Investors of record on Wednesday, October 2nd will be paid a $0.05 dividend. This is a boost from National General’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $0.20 annualized dividend and a dividend yield of 0.83%. National General’s payout ratio is presently 7.66%.
National General Profile
National General Holdings Corp., a specialty personal lines insurance holding company, provides various insurance products and services in the United States, Bermuda, Luxembourg, and Sweden. The company's 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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