National General (NGHC) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research cut shares of National General (NASDAQ:NGHC) from a hold rating to a sell rating in a research note published on Wednesday morning.

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. “

NGHC has been the subject of a number of other reports. Keefe, Bruyette & Woods reissued a buy rating and issued a $27.00 target price on shares of National General in a research report on Tuesday, August 29th. FBR & Co reissued a buy rating and issued a $29.00 target price on shares of National General in a research report on Monday, September 18th. TheStreet cut National General from a b- rating to a c rating in a research report on Tuesday, August 8th. B. Riley reissued a buy rating and issued a $29.00 target price on shares of National General in a research report on Monday, November 6th. Finally, Morgan Stanley decreased their target price on National General from $25.00 to $23.00 and set an equal weight rating for the company in a research 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 given a buy rating to the company. National General has a consensus rating of Hold and a consensus price target of $26.40.

Shares of National General (NASDAQ NGHC) opened at $20.58 on Wednesday. The stock has a market capitalization of $2,200.00, a PE ratio of 20.14 and a beta of 1.33. National General has a 1 year low of $16.21 and a 1 year high of $26.99.

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

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Shareholders of record on Tuesday, January 2nd will be given a dividend of $0.04 per share. The ex-dividend date is Friday, December 29th. This represents a $0.16 dividend on an annualized basis and a yield of 0.78%. National General’s payout ratio is 16.49%.

In related news, Director John Drake Nichols acquired 24,500 shares of the firm’s stock in a transaction on Monday, November 27th. The stock was bought at an average cost of $20.45 per share, with a total value of $501,025.00. Following the transaction, the director now owns 24,500 shares of the company’s stock, valued at $501,025. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.43% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the business. First Trust Advisors LP lifted its position in National General by 26.0% during the 2nd quarter. First Trust Advisors LP now owns 107,090 shares of the insurance provider’s stock worth $2,260,000 after acquiring an additional 22,109 shares during the period. Schwab Charles Investment Management Inc. lifted its position in National General by 5.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 241,138 shares of the insurance provider’s stock worth $5,089,000 after acquiring an additional 12,235 shares during the period. Virginia Retirement Systems ET AL lifted its position in National General by 110.2% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 75,900 shares of the insurance provider’s stock worth $1,601,000 after acquiring an additional 39,800 shares during the period. Dimensional Fund Advisors LP lifted its position in National General by 12.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,622,874 shares of the insurance provider’s stock worth $34,244,000 after acquiring an additional 177,415 shares during the period. Finally, LSV Asset Management lifted its position in National General by 60.1% during the 2nd quarter. LSV Asset Management now owns 187,986 shares of the insurance provider’s stock worth $3,966,000 after acquiring an additional 70,600 shares during the period. 45.63% of the stock is owned by institutional investors.

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About National General

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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