American International Group Inc. Sells 2,320 Shares of National General Holdings Corp (NASDAQ:NGHC)

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American International Group Inc. lessened its holdings in National General Holdings Corp (NASDAQ:NGHC) by 5.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,126 shares of the insurance provider’s stock after selling 2,320 shares during the quarter. American International Group Inc.’s holdings in National General were worth $664,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in NGHC. State of Michigan Retirement System bought a new stake in shares of National General in the first quarter worth $21,515,000. Norges Bank acquired a new position in National General during the fourth quarter worth $25,458,000. BlackRock Inc. increased its holdings in National General by 11.1% during the first quarter. BlackRock Inc. now owns 5,482,979 shares of the insurance provider’s stock worth $90,743,000 after buying an additional 549,728 shares during the last quarter. Philadelphia Financial Management of San Francisco LLC increased its holdings in National General by 69.0% during the fourth quarter. Philadelphia Financial Management of San Francisco LLC now owns 924,038 shares of the insurance provider’s stock worth $20,421,000 after buying an additional 377,173 shares during the last quarter. Finally, Nut Tree Capital Management LP increased its holdings in National General by 19.1% during the fourth quarter. Nut Tree Capital Management LP now owns 1,371,314 shares of the insurance provider’s stock worth $30,306,000 after buying an additional 219,602 shares during the last quarter. 52.77% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:NGHC opened at $19.30 on Friday. National General Holdings Corp has a one year low of $11.82 and a one year high of $25.39. The company has a market cap of $2.13 billion, a P/E ratio of 6.92 and a beta of 0.82. The firm’s fifty day moving average price is $17.21 and its two-hundred day moving average price is $19.86.

National General (NASDAQ:NGHC) last released its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $0.91 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.05. National General had a net margin of 6.60% and a return on equity of 16.97%. The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same period in the previous year, the company earned $0.77 earnings per share. The company’s quarterly revenue was up 7.1% on a year-over-year basis. On average, equities research analysts expect that National General Holdings Corp will post 3.21 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be paid a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.20 annualized dividend and a dividend yield of 1.04%. National General’s dividend payout ratio (DPR) is presently 7.27%.

A number of equities analysts recently weighed in on the stock. ValuEngine downgraded shares of National General from a “sell” rating to a “strong sell” rating in a report on Friday, May 1st. Zacks Investment Research upgraded shares of National General from a “hold” rating to a “strong-buy” rating and set a $21.00 target price on the stock in a report on Thursday, April 30th. BidaskClub upgraded shares of National General from a “sell” rating to a “hold” rating in a report on Tuesday. JPMorgan Chase & Co. assumed coverage on shares of National General in a report on Sunday, April 19th. They issued a “neutral” rating and a $26.00 price objective on the stock. Finally, B. Riley decreased their price objective on shares of National General from $32.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, April 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $28.00.

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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