National General Holdings Corp (NASDAQ:NGHC) Receives $33.00 Consensus PT from Brokerages

Shares of National General Holdings Corp (NASDAQ:NGHC) have received an average recommendation of “Hold” from the seven analysts that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $33.00.

Several research analysts have recently weighed in on NGHC shares. Zacks Investment Research upgraded National General from a “sell” rating to a “hold” rating in a research note on Wednesday, January 1st. BidaskClub downgraded National General from a “sell” rating to a “strong sell” rating in a research note on Thursday, October 24th. Finally, ValuEngine upgraded National General from a “sell” rating to a “hold” rating in a research note on Tuesday, December 31st.

In other National General news, CFO Michael Hal Weiner sold 5,111 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $20.43, for a total value of $104,417.73. Following the completion of the transaction, the chief financial officer now owns 92,276 shares in the company, valued at approximately $1,885,198.68. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Peter A. Rendall sold 9,858 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $21.77, for a total value of $214,608.66. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,080 shares of company stock valued at $431,877. 3.38% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. raised its holdings in shares of National General by 7.5% in the 2nd quarter. BlackRock Inc. now owns 4,772,804 shares of the insurance provider’s stock valued at $109,490,000 after acquiring an additional 332,838 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in shares of National General by 2,276.8% in the 2nd quarter. Nuveen Asset Management LLC now owns 343,847 shares of the insurance provider’s stock valued at $7,888,000 after acquiring an additional 329,380 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of National General by 3.7% in the 2nd quarter. Vanguard Group Inc. now owns 5,993,589 shares of the insurance provider’s stock valued at $137,493,000 after acquiring an additional 213,714 shares in the last quarter. Millennium Management LLC raised its holdings in shares of National General by 308.7% in the 3rd quarter. Millennium Management LLC now owns 232,225 shares of the insurance provider’s stock valued at $5,345,000 after acquiring an additional 175,405 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of National General by 263.4% in the 2nd quarter. Jacobs Levy Equity Management Inc. now owns 214,674 shares of the insurance provider’s stock valued at $4,925,000 after acquiring an additional 155,607 shares in the last quarter. Institutional investors and hedge funds own 52.19% of the company’s stock.

Shares of NGHC stock traded up $0.06 on Friday, hitting $22.77. 165,307 shares of the stock were exchanged, compared to its average volume of 217,961. The firm has a market capitalization of $2.57 billion, a PE ratio of 11.27 and a beta of 0.60. National General has a one year low of $20.08 and a one year high of $26.73. The firm’s 50 day moving average is $21.95 and its two-hundred day moving average is $22.65.

National General (NASDAQ:NGHC) last posted its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.06). The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.24 billion. National General had a return on equity of 15.70% and a net margin of 5.34%. The firm’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 EPS. Sell-side analysts expect that National General will post 2.65 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Wednesday, January 1st were paid a $0.05 dividend. The ex-dividend date was Monday, December 30th. This represents a $0.20 annualized dividend and a yield of 0.88%. National General’s dividend payout ratio is currently 9.57%.

About National General

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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