According to Zacks, “Federated National Holding Company is an insurance holding company, which through its subsidiaries, controls all aspects of the insurance underwriting, distribution and claims processes. The Company underwrites homeowners’ property and casualty, commercial general liability, commercial residential property, flood, personal automobile and commercial automobile. It is also licensed to and has the facilities to market and underwrite policies for other insurance carriers’ lines of business such as, inland marine, workers’ compensation and personal umbrella insurance. Federated National Holding Company, formerly known as 21st Century Holding Company, is based in Sunrise, Florida. “
Separately, Keefe, Bruyette & Woods decreased their price target on shares of Federated National Holding from $29.00 to $28.00 and set an outperform rating for the company in a research note on Monday, August 8th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $30.33.
Federated National Holding (NASDAQ:FNHC) traded up 2.05% on Wednesday, reaching $18.38. 3,387 shares of the company’s stock traded hands. The company’s 50 day moving average is $17.98 and its 200-day moving average is $19.59. The stock has a market cap of $253.35 million, a price-to-earnings ratio of 8.47 and a beta of 1.39. Federated National Holding has a 52-week low of $15.99 and a 52-week high of $32.61.
In other news, CFO Peter J. Prygelski sold 27,950 shares of Federated National Holding stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $18.75, for a total transaction of $524,062.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 10.59% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. SECOR Capital Advisors LP boosted its position in shares of Federated National Holding by 20.5% in the second quarter. SECOR Capital Advisors LP now owns 31,913 shares of the company’s stock worth $607,000 after buying an additional 5,433 shares in the last quarter. Rothschild Asset Management Inc. acquired a new position in shares of Federated National Holding during the second quarter worth about $3,208,000. Renaissance Technologies LLC boosted 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 worth $12,991,000 after buying an additional 24,200 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Federated National Holding during the second quarter worth about $272,000. Finally, Bank of New York Mellon Corp boosted 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 worth $2,654,000 after buying an additional 9,899 shares in the last quarter. Hedge funds and other institutional investors own 62.80% of the company’s stock.
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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