JPMorgan Chase & Co. Sells 22,951 Shares of National General Holdings Corp (NGHC)

JPMorgan Chase & Co. cut its position in National General Holdings Corp (NASDAQ:NGHC) by 22.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 78,321 shares of the insurance provider’s stock after selling 22,951 shares during the period. JPMorgan Chase & Co. owned approximately 0.07% of National General Holdings Corp worth $1,861,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of NGHC. Advisors Asset Management Inc. increased its stake in shares of National General Holdings Corp by 89.9% in the first quarter. Advisors Asset Management Inc. now owns 21,227 shares of the insurance provider’s stock worth $504,000 after buying an additional 10,050 shares during the last quarter. First Trust Advisors LP increased its stake in shares of National General Holdings Corp by 45.2% in the first quarter. First Trust Advisors LP now owns 84,981 shares of the insurance provider’s stock worth $2,019,000 after buying an additional 26,436 shares during the last quarter. Stoneridge Investment Partners LLC bought a new stake in shares of National General Holdings Corp during the first quarter worth approximately $571,000. Pembroke Management LTD increased its stake in shares of National General Holdings Corp by 1.4% in the first quarter. Pembroke Management LTD now owns 1,314,600 shares of the insurance provider’s stock worth $31,234,000 after buying an additional 18,200 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of National General Holdings Corp by 14.6% in the first quarter. Wells Fargo & Company MN now owns 2,037,874 shares of the insurance provider’s stock worth $48,420,000 after buying an additional 259,243 shares during the last quarter. Hedge funds and other institutional investors own 53.75% of the company’s stock.

Shares of National General Holdings Corp (NASDAQ:NGHC) opened at 20.66 on Tuesday. The stock has a 50 day moving average price of $21.73 and a 200-day moving average price of $23.40. The stock has a market cap of $2.20 billion, a P/E ratio of 17.36 and a beta of 1.26. National General Holdings Corp has a 52 week low of $18.04 and a 52 week high of $26.99.

National General Holdings Corp (NASDAQ:NGHC) last released its earnings results on Monday, May 8th. The insurance provider reported $0.38 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.38. National General Holdings Corp had a return on equity of 10.43% and a net margin of 3.70%. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $943.94 million. During the same quarter in the previous year, the firm posted $0.50 EPS. The firm’s quarterly revenue was up 36.1% on a year-over-year basis. Equities analysts predict that National General Holdings Corp will post $1.74 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Monday, July 3rd were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.77%. The ex-dividend date was Thursday, June 29th. National General Holdings Corp’s payout ratio is 13.56%.

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A number of analysts have recently commented on the company. ValuEngine downgraded National General Holdings Corp from a “buy” rating to a “hold” rating in a research note on Thursday, May 25th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $27.00 target price on shares of National General Holdings Corp in a research note on Wednesday, June 21st. Finally, BidaskClub upgraded National General Holdings Corp from a “strong sell” rating to a “sell” rating in a research note on Friday, June 30th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. National General Holdings Corp currently has an average rating of “Hold” and a consensus target price of $25.00.

In other National General Holdings Corp news, COO Peter A. Rendall sold 32,659 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $22.05, for a total transaction of $720,130.95. Following the transaction, the chief operating officer now owns 63,686 shares in the company, valued at approximately $1,404,276.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Peter A. Rendall sold 30,901 shares of the business’s stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $21.06, for a total value of $650,775.06. Following the transaction, the chief operating officer now owns 126 shares in the company, valued at approximately $2,653.56. The disclosure for this sale can be found here. Insiders own 3.43% of the company’s stock.

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.

Institutional Ownership by Quarter for National General Holdings Corp (NASDAQ:NGHC)

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