National General Holdings Corp (NGHC) Stock Rating Reaffirmed by FBR & Co

National General Holdings Corp (NASDAQ:NGHC)‘s stock had its “buy” rating reissued by research analysts at FBR & Co in a report released on Monday. They currently have a $29.00 price target on the insurance provider’s stock. FBR & Co’s price objective points to a potential upside of 63.93% from the company’s previous close.

NGHC has been the topic of a number of other reports. ValuEngine lowered shares of National General Holdings Corp from a “buy” rating to a “hold” rating in a report on Thursday, May 25th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $27.00 target price on shares of National General Holdings Corp in a report on Wednesday, June 21st. Zacks Investment Research upgraded shares of National General Holdings Corp from a “strong sell” rating to a “hold” rating and set a $24.00 target price on the stock in a report on Thursday, July 20th. BidaskClub upgraded shares of National General Holdings Corp from a “strong sell” rating to a “sell” rating in a report on Friday, June 30th. Finally, Morgan Stanley reduced their target price on shares of National General Holdings Corp from $25.00 to $23.00 and set an “equal weight” rating on the stock in a report on Thursday, August 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. National General Holdings Corp currently has a consensus rating of “Hold” and an average price target of $25.75.

Shares of National General Holdings Corp (NASDAQ NGHC) traded down 0.367% during trading on Monday, reaching $17.625. 115,550 shares of the company traded hands. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of 23.818 and a beta of 1.28. The firm’s 50 day moving average price is $18.31 and its 200-day moving average price is $21.28. National General Holdings Corp has a 52 week low of $16.21 and a 52 week high of $26.99.

National General Holdings Corp (NASDAQ:NGHC) last released its earnings results on Monday, August 7th. The insurance provider reported $0.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.28). The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $966.51 million. National General Holdings Corp had a return on equity of 7.80% and a net margin of 2.13%. National General Holdings Corp’s quarterly revenue was up 36.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.41 earnings per share. Equities analysts anticipate that National General Holdings Corp will post $1.28 EPS for the current fiscal year.

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In other news, CEO Barry Karfunkel acquired 25,000 shares of National General Holdings Corp stock in a transaction dated Thursday, August 10th. The shares were acquired at an average cost of $18.25 per share, for a total transaction of $456,250.00. Following the acquisition, the chief executive officer now owns 110,073 shares of the company’s stock, valued at $2,008,832.25. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Peter A. Rendall sold 30,901 shares of the firm’s stock in a transaction on Friday, June 30th. The shares were sold at an average price of $21.06, for a total transaction of $650,775.06. Following the completion of the sale, the chief operating officer now owns 126 shares in the company, valued at $2,653.56. The disclosure for this sale can be found here. 3.43% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Legal & General Group Plc raised its holdings in shares of National General Holdings Corp by 2.1% in the 2nd quarter. Legal & General Group Plc now owns 16,897 shares of the insurance provider’s stock valued at $357,000 after purchasing an additional 352 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of National General Holdings Corp by 1.3% in the 1st quarter. Principal Financial Group Inc. now owns 34,772 shares of the insurance provider’s stock valued at $826,000 after purchasing an additional 462 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of National General Holdings Corp by 1.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,099 shares of the insurance provider’s stock valued at $845,000 after purchasing an additional 669 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of National General Holdings Corp by 1.6% in the 2nd quarter. Rhumbline Advisers now owns 57,281 shares of the insurance provider’s stock valued at $1,209,000 after purchasing an additional 886 shares in the last quarter. Finally, Wedge Capital Management L L P NC raised its holdings in shares of National General Holdings Corp by 4.9% in the 2nd quarter. Wedge Capital Management L L P NC now owns 22,470 shares of the insurance provider’s stock valued at $474,000 after purchasing an additional 1,054 shares in the last quarter. Institutional investors and hedge funds own 45.92% 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.

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