Zacks Investment Research Lowers National General Holdings Corp (NASDAQ:NGHC) to Hold

National General Holdings Corp (NASDAQ:NGHC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

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. “

A number of other brokerages have also commented on NGHC. TheStreet lowered National General Holdings Corp from a “b-” rating to a “c” rating in a research report on Tuesday. BidaskClub upgraded National General Holdings Corp from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Morgan Stanley decreased their price objective on National General Holdings Corp from $25.00 to $23.00 and set an “equal weight” rating for the company in a research report on Thursday. Keefe, Bruyette & Woods restated a “buy” rating and set a $27.00 price objective on shares of National General Holdings Corp in a research report on Tuesday, July 25th. Finally, ValuEngine lowered National General Holdings Corp from a “buy” rating to a “hold” rating in a research report on Thursday, May 25th. 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 company’s stock. The company has a consensus rating of “Hold” and an average price target of $24.67.

National General Holdings Corp (NASDAQ NGHC) opened at 18.00 on Friday. The stock’s 50 day moving average is $20.88 and its 200-day moving average is $22.58. National General Holdings Corp has a 1-year low of $17.95 and a 1-year high of $26.99. The firm has a market cap of $1.92 billion, a P/E ratio of 24.32 and a beta of 1.25.

National General Holdings Corp (NASDAQ:NGHC) last announced its quarterly earnings data on Monday, August 7th. The insurance provider reported $0.11 EPS for the quarter, missing the Zacks’ consensus estimate of $0.39 by $0.28. National General Holdings Corp had a return on equity of 7.83% and a net margin of 2.13%. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $966.51 million. During the same quarter in the previous year, the business posted $0.41 earnings per share. The company’s revenue was up 36.2% compared to the same quarter last year. Analysts forecast that National General Holdings Corp will post $1.44 EPS for the current year.

WARNING: “Zacks Investment Research Lowers National General Holdings Corp (NASDAQ:NGHC) to Hold” was originally posted by Ticker Report and is the sole property of of Ticker Report. If you are viewing this news story on another site, it was illegally copied and republished in violation of U.S. and international copyright & trademark legislation. The original version of this news story can be accessed at https://www.tickerreport.com/banking-finance/2801090/zacks-investment-research-lowers-national-general-holdings-corp-nasdaqnghc-to-hold.html.

In other news, COO Peter A. Rendall sold 30,901 shares of the firm’s stock in a transaction dated Friday, June 30th. The stock was 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 directly owns 126 shares of the company’s stock, valued at approximately $2,653.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Peter A. Rendall sold 32,659 shares of the firm’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $22.05, for a total value of $720,130.95. Following the sale, the chief operating officer now directly owns 63,686 shares of the company’s stock, valued at $1,404,276.30. The disclosure for this sale can be found here. 3.43% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of NGHC. Vanguard Group Inc. increased its stake in National General Holdings Corp by 4.6% in the first quarter. Vanguard Group Inc. now owns 4,118,335 shares of the insurance provider’s stock worth $97,851,000 after buying an additional 180,570 shares during the period. Wells Fargo & Company MN increased its stake in National General Holdings Corp by 4.8% in the second quarter. Wells Fargo & Company MN now owns 2,135,050 shares of the insurance provider’s stock worth $45,049,000 after buying an additional 97,176 shares during the period. Dimensional Fund Advisors LP increased its stake in National General Holdings Corp by 7.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,445,459 shares of the insurance provider’s stock worth $34,343,000 after buying an additional 103,100 shares during the period. Ameriprise Financial Inc. increased its stake in National General Holdings Corp by 2.4% in the first quarter. Ameriprise Financial Inc. now owns 1,358,467 shares of the insurance provider’s stock worth $32,267,000 after buying an additional 32,314 shares during the period. Finally, Pembroke Management LTD increased its stake in National General Holdings Corp by 1.4% in the first quarter. Pembroke Management LTD now owns 1,314,600 shares of the insurance provider’s stock worth $31,234,000 after buying an additional 18,200 shares during the period. 53.36% of the stock is owned by institutional investors.

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.

Get a free copy of the Zacks research report on National General Holdings Corp (NGHC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for National General Holdings Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National General Holdings Corp and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


Leave a Reply

© 2006-2017 Ticker Report. Google+.