Wedge Capital Management L L P NC lessened its position in National General Holdings Corp (NASDAQ:NGHC) by 3.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,773 shares of the insurance provider’s stock after selling 544 shares during the period. Wedge Capital Management L L P NC’s holdings in National General were worth $351,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of National General by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 5,315,957 shares of the insurance provider’s stock valued at $142,680,000 after purchasing an additional 80,780 shares in the last quarter. Park West Asset Management LLC raised its holdings in shares of National General by 10.7% in the fourth quarter. Park West Asset Management LLC now owns 5,110,711 shares of the insurance provider’s stock valued at $123,730,000 after buying an additional 492,263 shares during the last quarter. BlackRock Inc. raised its holdings in shares of National General by 4.1% in the fourth quarter. BlackRock Inc. now owns 4,413,801 shares of the insurance provider’s stock valued at $106,859,000 after buying an additional 174,090 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of National General by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,821,475 shares of the insurance provider’s stock valued at $68,307,000 after buying an additional 41,234 shares during the last quarter. Finally, Boston Partners raised its holdings in shares of National General by 38.6% in the fourth quarter. Boston Partners now owns 2,524,082 shares of the insurance provider’s stock valued at $61,108,000 after buying an additional 703,413 shares during the last quarter. Institutional investors own 52.32% of the company’s stock.
A number of research analysts recently issued reports on NGHC shares. BidaskClub cut National General from a “buy” rating to a “hold” rating in a report on Thursday, March 14th. Goldman Sachs Group started coverage on National General in a report on Tuesday, February 19th. They issued a “neutral” rating and a $27.00 price target for the company. JMP Securities reaffirmed a “buy” rating and issued a $33.00 price target on shares of National General in a report on Wednesday, February 27th. Zacks Investment Research raised National General from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a report on Thursday, March 7th. Finally, Compass Point started coverage on National General in a report on Wednesday, March 20th. They issued a “buy” rating and a $34.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $30.57.
NASDAQ:NGHC traded down $0.09 on Friday, hitting $23.83. 1,448 shares of the stock were exchanged, compared to its average volume of 159,785. The stock has a market capitalization of $2.70 billion, a P/E ratio of 11.36 and a beta of 0.71. National General Holdings Corp has a 52 week low of $21.22 and a 52 week high of $28.89.
National General (NASDAQ:NGHC) last announced its quarterly earnings data on Monday, May 6th. The insurance provider reported $0.77 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.09. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.19 billion. National General had a return on equity of 16.86% and a net margin of 4.89%. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.62 EPS. Sell-side analysts expect that National General Holdings Corp will post 2.68 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be issued a dividend of $0.04 per share. The ex-dividend date is Friday, June 28th. This represents a $0.16 annualized dividend and a yield of 0.67%. National General’s dividend payout ratio is currently 7.66%.
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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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