National General (NGHC) Upgraded to Sell by BidaskClub

BidaskClub upgraded shares of National General (NASDAQ:NGHC) from a strong sell rating to a sell rating in a research note released on Thursday.

Several other equities research analysts have also recently commented on NGHC. Mizuho lifted their price target on shares of National General from $29.00 to $31.00 and gave the stock a buy rating in a research report on Wednesday. B. Riley lifted their price target on shares of National General from $29.00 to $31.00 and gave the stock a buy rating in a research report on Wednesday. Zacks Investment Research upgraded shares of National General from a sell rating to a hold rating and set a $22.00 price target for the company in a research report on Saturday, January 6th. Finally, Morgan Stanley lifted their price target on shares of National General from $23.00 to $25.00 and gave the stock an equal weight rating in a research report on Thursday, March 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. National General presently has an average rating of Hold and a consensus target price of $27.50.

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Shares of National General stock opened at $24.01 on Thursday. National General has a 1 year low of $16.21 and a 1 year high of $25.17. The company has a market cap of $2,562.01, a P/E ratio of 40.02 and a beta of 1.01.

National General (NASDAQ:NGHC) last issued its quarterly earnings results on Monday, February 26th. The insurance provider reported $0.28 EPS for the quarter, topping the consensus estimate of $0.21 by $0.07. National General had a net margin of 1.67% and a return on equity of 7.10%. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the company earned $0.30 EPS. National General’s revenue was up 5.1% on a year-over-year basis. equities research analysts expect that National General will post 2.19 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Monday, April 2nd will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend is Thursday, March 29th. National General’s dividend payout ratio is currently 26.67%.

In related news, EVP Thomas Newgarden sold 5,084 shares of the business’s stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $24.26, for a total transaction of $123,337.84. Following the completion of the transaction, the executive vice president now owns 4,766 shares in the company, valued at $115,623.16. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.43% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. grew its holdings in National General by 11.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 25,314 shares of the insurance provider’s stock valued at $497,000 after purchasing an additional 2,594 shares during the period. MetLife Investment Advisors LLC acquired a new position in National General during the fourth quarter valued at approximately $471,000. Park West Asset Management LLC grew its holdings in National General by 5.0% during the fourth quarter. Park West Asset Management LLC now owns 4,606,870 shares of the insurance provider’s stock valued at $90,479,000 after purchasing an additional 220,883 shares during the period. Stone Ridge Asset Management LLC acquired a new position in National General during the fourth quarter valued at approximately $1,031,000. Finally, Cornercap Investment Counsel Inc. grew its holdings in National General by 27.6% during the fourth quarter. Cornercap Investment Counsel Inc. now owns 38,500 shares of the insurance provider’s stock valued at $756,000 after purchasing an additional 8,335 shares during the period. Hedge funds and other institutional investors own 46.94% of the company’s stock.

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National General 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.

Analyst Recommendations for National General (NASDAQ:NGHC)

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