According to Zacks, “National General Holdings Corp. is a specialty personal lines insurance holding company. The Company, through its subsidiaries, provides personal and commercial automobile insurance, recreational vehicle and motorcycle insurance, supplemental health insurance products and other niche insurance products. It operates in two segments, Property and Casualty and Accident and Health. The Property and Casualty segment offers standard and preferred automobile and sub-standard automobile insurance policies; Recreational vehicle insurance policies; commercial automobile insurance policies; and motorcycle insurance policies for various types of motorcycles, as well as golf carts and all-terrain vehicles. The Accident and Health segment provides accident and non-major medical health insurance products. National General Holdings Corp. is headquartered in New York. “
NGHC has been the topic of a number of other reports. ValuEngine raised National General from a “sell” rating to a “hold” rating in a research note on Tuesday, December 31st. BidaskClub lowered National General from a “sell” rating to a “strong sell” rating in a research note on Thursday, October 24th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $31.40.
National General (NASDAQ:NGHC) last issued its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.06). National General had a return on equity of 15.70% and a net margin of 5.34%. The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same period in the previous year, the business posted $0.65 earnings per share. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. On average, equities analysts predict that National General will post 2.63 earnings per share for the current year.
In related news, CFO Michael Hal Weiner sold 5,111 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $20.43, for a total transaction of $104,417.73. Following the sale, the chief financial officer now directly owns 92,276 shares in the company, valued at approximately $1,885,198.68. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Peter A. Rendall sold 9,858 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $21.77, for a total value of $214,608.66. The disclosure for this sale can be found here. Insiders own 3.38% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Millennium Management LLC raised its holdings in shares of National General by 308.7% during the 3rd quarter. Millennium Management LLC now owns 232,225 shares of the insurance provider’s stock valued at $5,345,000 after buying an additional 175,405 shares during the period. Barclays PLC raised its holdings in shares of National General by 15.4% during the 3rd quarter. Barclays PLC now owns 63,535 shares of the insurance provider’s stock valued at $1,462,000 after buying an additional 8,482 shares during the period. State of New Jersey Common Pension Fund D purchased a new stake in shares of National General during the 3rd quarter valued at about $2,878,000. First Trust Advisors LP raised its holdings in shares of National General by 43.0% during the 3rd quarter. First Trust Advisors LP now owns 132,616 shares of the insurance provider’s stock valued at $3,053,000 after buying an additional 39,900 shares during the period. Finally, First Quadrant L P CA raised its holdings in shares of National General by 104.9% during the 3rd quarter. First Quadrant L P CA now owns 120,700 shares of the insurance provider’s stock valued at $2,779,000 after buying an additional 61,804 shares during the period. Institutional investors and hedge funds own 52.20% of the company’s stock.
National General Company Profile
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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