National General Holdings Corp (NASDAQ:NGHC) has received a consensus rating of “Hold” from the eight analysts that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $32.40.
NGHC has been the topic of several recent analyst reports. BidaskClub downgraded National General from a “buy” rating to a “hold” rating in a research note on Thursday, March 14th. Zacks Investment Research raised National General from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research note on Thursday, March 7th. Compass Point initiated coverage on National General in a research note on Wednesday, March 20th. They set a “buy” rating and a $34.00 target price on the stock. B. Riley lifted their target price on National General from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. Finally, ValuEngine downgraded National General from a “hold” rating to a “sell” rating in a research note on Wednesday, April 3rd.
Shares of NGHC opened at $22.68 on Tuesday. The company’s 50 day simple moving average is $23.70. The company has a market cap of $2.65 billion, a P/E ratio of 10.85 and a beta of 0.71. National General has a 12-month low of $21.22 and a 12-month high of $28.89.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.71%. The ex-dividend date is Friday, June 28th. National General’s dividend payout ratio is presently 7.66%.
In other National General news, CFO Michael Hal Weiner sold 5,110 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $24.09, for a total transaction of $123,099.90. Following the completion of the transaction, the chief financial officer now owns 44,623 shares in the company, valued at approximately $1,074,968.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 15,330 shares of company stock valued at $366,080 in the last 90 days. 3.38% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Morgan Stanley lifted its position in shares of National General by 15.0% in the third quarter. Morgan Stanley now owns 182,347 shares of the insurance provider’s stock worth $4,894,000 after purchasing an additional 23,809 shares in the last quarter. Rhumbline Advisers lifted its position in shares of National General by 50.1% in the fourth quarter. Rhumbline Advisers now owns 87,343 shares of the insurance provider’s stock worth $2,115,000 after purchasing an additional 29,144 shares in the last quarter. First Trust Advisors LP lifted its position in shares of National General by 34.3% in the fourth quarter. First Trust Advisors LP now owns 60,600 shares of the insurance provider’s stock worth $1,467,000 after purchasing an additional 15,492 shares in the last quarter. BlackRock Inc. lifted its position in shares of National General by 4.1% in the fourth quarter. BlackRock Inc. now owns 4,413,801 shares of the insurance provider’s stock worth $106,859,000 after purchasing an additional 174,090 shares in the last quarter. Finally, Martingale Asset Management L P lifted its position in shares of National General by 62.8% in the fourth quarter. Martingale Asset Management L P now owns 258,217 shares of the insurance provider’s stock worth $6,252,000 after purchasing an additional 99,630 shares in the last quarter. Institutional investors and hedge funds own 51.90% of the company’s stock.
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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