National General Holdings Corp (NGHC) Given Consensus Recommendation of “Hold” by Brokerages

Shares of National General Holdings Corp (NASDAQ:NGHC) have been assigned an average rating of “Hold” from the seven analysts that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $26.00.

A number of brokerages recently issued reports on NGHC. BidaskClub downgraded shares of National General Holdings Corp from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 9th. Morgan Stanley lowered their price target on shares of National General Holdings Corp from $25.00 to $23.00 and set an “equal weight” rating on the stock in a report on Thursday, August 10th. Zacks Investment Research downgraded shares of National General Holdings Corp from a “buy” rating to a “hold” rating in a report on Friday, August 11th. TheStreet downgraded shares of National General Holdings Corp from a “b-” rating to a “c” rating in a report on Tuesday, August 8th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating on shares of National General Holdings Corp in a report on Friday, September 29th.

In other news, CEO Barry Karfunkel purchased 25,000 shares of the stock in a transaction that occurred on Thursday, August 10th. The shares were purchased at an average cost of $18.25 per share, with a total value of $456,250.00. Following the completion of the acquisition, the chief executive officer now owns 110,073 shares of the company’s stock, valued at approximately $2,008,832.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.43% of the company’s stock.

A number of large investors have recently bought and sold shares of NGHC. Royal Bank of Canada raised its position in National General Holdings Corp by 22.8% during the second quarter. Royal Bank of Canada now owns 3,769,979 shares of the insurance provider’s stock worth $79,546,000 after acquiring an additional 699,595 shares during the period. Northern Trust Corp raised its position in National General Holdings Corp by 43.6% during the second quarter. Northern Trust Corp now owns 1,000,324 shares of the insurance provider’s stock worth $21,107,000 after acquiring an additional 303,730 shares during the period. Thrivent Financial For Lutherans acquired a new position in National General Holdings Corp during the first quarter worth $4,608,000. Vanguard Group Inc. raised its position in National General Holdings Corp by 4.6% during the first quarter. Vanguard Group Inc. now owns 4,118,335 shares of the insurance provider’s stock worth $97,851,000 after acquiring an additional 180,570 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in National General Holdings Corp by 12.3% during the second 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. Institutional investors own 45.92% of the company’s stock.

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National General Holdings Corp (NASDAQ:NGHC) last announced its quarterly earnings results on Monday, August 7th. The insurance provider reported $0.11 earnings per share (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 7.80% and a net margin of 2.13%. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $966.51 million. During the same period last year, the company posted $0.41 earnings per share. The business’s quarterly revenue was up 36.2% on a year-over-year basis.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Sunday, October 1st will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend is Thursday, September 28th. National General Holdings Corp’s dividend payout ratio (DPR) is presently 22.22%.

National General Holdings Corp Company Profile

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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