ValuEngine Upgrades National General (NGHC) to Hold

National General (NASDAQ:NGHC) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday, May 8th, ValuEngine reports.

Other equities research analysts have also recently issued reports about the stock. Goldman Sachs Group initiated coverage on shares of National General in a research report on Tuesday, February 19th. They set a “neutral” rating and a $27.00 price objective for the company. Zacks Investment Research raised shares of National General from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Thursday, March 7th. BidaskClub upgraded shares of National General from a “hold” rating to a “buy” rating in a research note on Tuesday, March 5th. B. Riley lifted their price target on shares of National General from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. Finally, JMP Securities reiterated a “buy” rating and set a $33.00 price target on shares of National General in a research note on Wednesday, February 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $31.00.

Shares of NASDAQ NGHC remained flat at $$22.72 during midday trading on Wednesday. 203,843 shares of the stock were exchanged, compared to its average volume of 226,561. The firm has a market cap of $2.57 billion, a P/E ratio of 10.87 and a beta of 0.71. National General has a fifty-two week low of $21.22 and a fifty-two week high of $28.89.

National General (NASDAQ:NGHC) last posted its quarterly earnings data on Monday, May 6th. The insurance provider reported $0.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.09. National General had a net margin of 4.89% and a return on equity of 16.86%. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter last year, the company posted $0.62 EPS. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. Analysts predict that National General will post 2.68 earnings per share for the current year.

In other news, CFO Michael Hal Weiner sold 5,110 shares of National General stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $24.53, for a total value of $125,348.30. Following the sale, the chief financial officer now owns 35,094 shares of the company’s stock, valued at $860,855.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.38% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in NGHC. Norges Bank purchased a new stake in National General during the fourth quarter worth about $29,088,000. Principal Financial Group Inc. boosted its holdings in National General by 5,705.6% during the fourth quarter. Principal Financial Group Inc. now owns 804,827 shares of the insurance provider’s stock worth $19,485,000 after buying an additional 790,964 shares in the last quarter. Boston Partners boosted its holdings in National General by 38.6% during the fourth quarter. Boston Partners now owns 2,524,082 shares of the insurance provider’s stock worth $61,108,000 after buying an additional 703,413 shares in the last quarter. Park West Asset Management LLC boosted its holdings in National General by 10.7% during the fourth quarter. Park West Asset Management LLC now owns 5,110,711 shares of the insurance provider’s stock worth $123,730,000 after buying an additional 492,263 shares in the last quarter. Finally, Philadelphia Financial Management of San Francisco LLC purchased a new stake in National General during the fourth quarter worth about $10,878,000. 51.92% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for National General (NASDAQ:NGHC)

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