California State Teachers Retirement System cut its stake in shares of Federated National Holding Co. (NASDAQ:FNHC) by 13.1% during the second quarter, Holdings Channel reports. The fund owned 26,364 shares of the company’s stock after selling 3,963 shares during the period. California State Teachers Retirement System owned 0.19% of Federated National Holding worth $502,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the stock. Menta Capital LLC raised its position in Federated National Holding by 8.5% in the first quarter. Menta Capital LLC now owns 57,671 shares of the company’s stock valued at $1,134,000 after buying an additional 4,512 shares during the last quarter. Prudential Financial Inc. raised its position in shares of Federated National Holding by 44.6% in the first quarter. Prudential Financial Inc. now owns 29,850 shares of the company’s stock valued at $587,000 after buying an additional 9,200 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Federated National Holding by 7.6% in the second quarter. Bank of New York Mellon Corp now owns 139,440 shares of the company’s stock valued at $2,654,000 after buying an additional 9,899 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Federated National Holding by 3.8% in the first quarter. Renaissance Technologies LLC now owns 660,800 shares of the company’s stock valued at $12,991,000 after buying an additional 24,200 shares in the last quarter. Finally, Bogle Investment Management L P DE bought a new position in shares of Federated National Holding during the first quarter valued at approximately $640,000. Institutional investors own 62.80% of the company’s stock.
Shares of Federated National Holding Co. (NASDAQ:FNHC) traded up 10.76% during midday trading on Friday, reaching $18.01. 190,271 shares of the company traded hands. The stock has a market capitalization of $248.25 million, a price-to-earnings ratio of 8.30 and a beta of 1.39. The company’s 50 day moving average is $17.98 and its 200-day moving average is $19.59. Federated National Holding Co. has a 12 month low of $15.99 and a 12 month high of $32.61.
FNHC has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Federated National Holding from a “strong sell” rating to a “hold” rating in a report on Monday, July 11th. Keefe, Bruyette & Woods decreased their price objective on shares of Federated National Holding from $29.00 to $28.00 and set an “outperform” rating on the stock in a report on Monday, August 8th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Federated National Holding presently has a consensus rating of “Buy” and an average target price of $30.33.
In related news, CFO Peter J. Prygelski sold 27,950 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $18.75, for a total value of $524,062.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 10.59% of the stock is currently owned by corporate insiders.
About Federated National Holding
Federated National Holding Company (FNHC) is an insurance holding company that controls all steps in the insurance underwriting, distribution and claims processes through its subsidiaries and its contractual relationships with its independent agents and general agents. The Company is authorized to underwrite homeowners’ multi-peril (homeowners), commercial general liability, federal flood, personal auto and various other lines of insurance in Florida and various other states.
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