Janus Henderson Group PLC Acquires New Position in National General Holdings Corp (NASDAQ:NGHC)

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Janus Henderson Group PLC acquired a new stake in shares of National General Holdings Corp (NASDAQ:NGHC) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 9,945 shares of the insurance provider’s stock, valued at approximately $228,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Federated Investors Inc. PA grew its position in National General by 57.4% in the 1st quarter. Federated Investors Inc. PA now owns 1,073,444 shares of the insurance provider’s stock valued at $25,473,000 after buying an additional 391,253 shares during the last quarter. State of Wisconsin Investment Board raised its holdings in National General by 29.7% in the first quarter. State of Wisconsin Investment Board now owns 849,400 shares of the insurance provider’s stock valued at $20,156,000 after acquiring an additional 194,400 shares in the last quarter. Hillcrest Asset Management LLC raised its holdings in National General by 36.1% in the first quarter. Hillcrest Asset Management LLC now owns 531,342 shares of the insurance provider’s stock valued at $12,609,000 after acquiring an additional 141,014 shares in the last quarter. Geode Capital Management LLC raised its holdings in National General by 19.2% in the fourth quarter. Geode Capital Management LLC now owns 837,134 shares of the insurance provider’s stock valued at $20,266,000 after acquiring an additional 134,820 shares in the last quarter. Finally, Dupont Capital Management Corp acquired a new stake in National General in the second quarter valued at approximately $2,574,000. Institutional investors own 50.73% of the company’s stock.

Shares of NGHC stock opened at $23.32 on Wednesday. The firm has a 50-day moving average price of $23.46 and a 200 day moving average price of $24.00. National General Holdings Corp has a twelve month low of $21.22 and a twelve month high of $28.89. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of 11.16 and a beta of 0.68.

National General (NASDAQ:NGHC) last announced its 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 net margin of 5.44% and a return on equity of 16.90%. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the previous year, the company posted $0.54 EPS. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. On average, sell-side analysts predict that National General Holdings Corp will post 2.7 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 16th. Investors of record on Wednesday, October 2nd will be paid a $0.05 dividend. This is an increase from National General’s previous quarterly dividend of $0.04. The ex-dividend date is Tuesday, October 1st. This represents a $0.20 annualized dividend and a yield of 0.86%. National General’s payout ratio is presently 7.66%.

NGHC has been the topic of several analyst reports. ValuEngine cut shares of National General from a “hold” rating to a “sell” rating in a report on Thursday, June 27th. B. Riley lifted their price target on National General from $33.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Compass Point set a $36.00 price target on National General and gave the stock a “hold” rating in a research note on Monday, June 24th. Zacks Investment Research raised National General from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research note on Saturday, July 27th. Finally, BidaskClub raised National General from a “sell” rating to a “hold” rating in a research note on Saturday, August 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $31.17.

In related news, CFO Michael Hal Weiner sold 5,110 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $23.00, for a total value of $117,530.00. Following the completion of the transaction, the chief financial officer now owns 49,560 shares of the company’s stock, valued at approximately $1,139,880. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 15,846 shares of company stock valued at $373,503 in the last three months. 3.38% of the stock is currently owned by corporate insiders.

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

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