National General Holdings Corp (NGHC) Shares Bought by Millennium Management LLC

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Millennium Management LLC boosted its stake in National General Holdings Corp (NASDAQ:NGHC) by 62.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 211,300 shares of the insurance provider’s stock after acquiring an additional 81,583 shares during the quarter. Millennium Management LLC’s holdings in National General were worth $5,116,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Macquarie Group Ltd. lifted its position in National General by 116.7% in the 4th quarter. Macquarie Group Ltd. now owns 1,300 shares of the insurance provider’s stock worth $31,000 after buying an additional 700 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in shares of National General by 37.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,968 shares of the insurance provider’s stock worth $48,000 after purchasing an additional 535 shares during the last quarter. New York State Teachers Retirement System acquired a new position in shares of National General during the 4th quarter worth $131,000. Quantamental Technologies LLC acquired a new position in shares of National General during the 4th quarter worth $137,000. Finally, Ibex Investors LLC acquired a new position in shares of National General during the 4th quarter worth $220,000. Institutional investors own 52.42% of the company’s stock.

NASDAQ:NGHC opened at $24.18 on Monday. National General Holdings Corp has a 1 year low of $21.22 and a 1 year high of $28.89. The firm has a market capitalization of $2.72 billion, a P/E ratio of 11.57 and a beta of 0.70.

National General (NASDAQ:NGHC) last posted its earnings results on Monday, February 25th. The insurance provider reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.01). National General had a net margin of 4.33% and a return on equity of 15.88%. During the same quarter last year, the business earned $0.28 earnings per share. Equities analysts anticipate that National General Holdings Corp will post 2.68 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Monday, April 1st will be paid a $0.04 dividend. The ex-dividend date is Friday, March 29th. This represents a $0.16 dividend on an annualized basis and a yield of 0.66%. National General’s payout ratio is presently 7.66%.

Several research analysts have recently commented on NGHC shares. Goldman Sachs Group started coverage on shares of National General in a research note on Tuesday, February 19th. They set a “neutral” rating and a $27.00 price target on the stock. Zacks Investment Research upgraded shares of National General from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Thursday, March 7th. BidaskClub upgraded shares of National General from a “hold” rating to a “buy” rating in a research note on Tuesday, March 5th. B. Riley increased their price target on shares of National General from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. Finally, JMP Securities restated a “buy” rating and set a $33.00 price target on shares of National General in a research note on Wednesday, February 27th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $30.57.

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About National General

National General Holdings Corp., a specialty personal lines insurance holding company, provides various insurance products and services in the United States, Bermuda, Luxembourg, and Sweden. The company's Property and Casualty segment offers standard, preferred, and nonstandard automobile insurance products; and recreational vehicle (RV) insurance products that carry RV-specific endorsements comprising automatic personal effects coverage, optional replacement cost coverage, RV storage coverage, and full-time liability coverage.

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Want to see what other hedge funds are holding NGHC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for National General Holdings Corp (NASDAQ:NGHC).

Institutional Ownership by Quarter for National General (NASDAQ:NGHC)

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