National General (NASDAQ:NGHC) Upgraded to “Sell” at BidaskClub

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BidaskClub upgraded shares of National General (NASDAQ:NGHC) from a strong sell rating to a sell rating in a research note released on Friday morning, BidAskClub reports.

Other analysts have also recently issued research reports about the company. ValuEngine cut National General from a hold rating to a sell rating in a report on Thursday, June 27th. Zacks Investment Research raised National General from a hold rating to a buy rating and set a $25.00 price target on the stock in a report on Saturday, July 27th. Compass Point set a $36.00 price target on National General and gave the company a hold rating in a report on Monday, June 24th. Finally, B. Riley raised their price target on National General from $33.00 to $36.00 and gave the company a buy rating in a report on Friday, May 31st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $31.17.

NASDAQ:NGHC opened at $23.30 on Friday. The firm has a 50-day simple moving average of $23.21. National General has a twelve month low of $21.22 and a twelve month high of $28.89. The stock has a market cap of $2.76 billion, a PE ratio of 10.20 and a beta of 0.68.

National General (NASDAQ:NGHC) last released its quarterly earnings results on Monday, July 29th. The insurance provider reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.07. National General had a return on equity of 16.90% and a net margin of 5.44%. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter last year, the firm posted $0.54 EPS. The company’s revenue was up 12.5% compared to the same quarter last year. Equities analysts forecast that National General will post 2.7 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 16th. Investors of record on Wednesday, October 2nd will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.86%. This is a boost from National General’s previous quarterly dividend of $0.04. The ex-dividend date is Tuesday, October 1st. National General’s dividend payout ratio (DPR) is currently 7.66%.

In related news, CFO Michael Hal Weiner sold 5,110 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $24.09, for a total transaction of $123,099.90. Following the transaction, the chief financial officer now directly owns 44,623 shares of the company’s stock, valued at approximately $1,074,968.07. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last three months, insiders have sold 15,846 shares of company stock worth $370,130. 3.38% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. State of Alaska Department of Revenue raised its holdings in shares of National General by 2.5% during the 2nd quarter. State of Alaska Department of Revenue now owns 23,924 shares of the insurance provider’s stock valued at $548,000 after buying an additional 588 shares in the last quarter. Zeke Capital Advisors LLC increased its stake in National General by 1.8% in the 2nd quarter. Zeke Capital Advisors LLC now owns 37,966 shares of the insurance provider’s stock worth $871,000 after purchasing an additional 672 shares during the period. Macquarie Group Ltd. increased its stake 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 purchasing an additional 700 shares during the period. Rhumbline Advisers increased its stake in National General by 1.1% in the 1st quarter. Rhumbline Advisers now owns 88,307 shares of the insurance provider’s stock worth $2,096,000 after purchasing an additional 964 shares during the period. Finally, Nisa Investment Advisors LLC increased its stake in National General by 100.0% in the 1st quarter. Nisa Investment Advisors LLC now owns 2,000 shares of the insurance provider’s stock worth $47,000 after purchasing an additional 1,000 shares during the period. 51.94% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for National General (NASDAQ:NGHC)

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