National General Holdings Corp (NGHC) Rating Increased to Hold at Zacks Investment Research

National General Holdings Corp (NASDAQ:NGHC) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Thursday, July 20th. The firm currently has a $24.00 price target on the insurance provider’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 25.82% from the stock’s previous close.

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. “

A number of other research analysts have also issued reports on the stock. BidaskClub upgraded shares of National General Holdings Corp from a “strong sell” rating to a “sell” rating in a report on Friday, June 30th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $27.00 price objective on shares of National General Holdings Corp in a research note on Wednesday, June 21st. Finally, ValuEngine downgraded shares of National General Holdings Corp from a “buy” rating to a “hold” rating in a research note on Thursday, May 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. National General Holdings Corp currently has an average rating of “Hold” and an average price target of $24.67.

National General Holdings Corp (NASDAQ:NGHC) opened at 19.075 on Thursday. The stock’s 50 day moving average is $21.29 and its 200 day moving average is $22.79. The stock has a market cap of $2.03 billion, a PE ratio of 16.029 and a beta of 1.25. National General Holdings Corp has a 52 week low of $18.04 and a 52 week high of $26.99.

National General Holdings Corp (NASDAQ:NGHC) last released its earnings results on Monday, August 7th. The insurance provider reported $0.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.39 by $0.28. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $966.51 million. National General Holdings Corp had a net margin of 3.70% and a return on equity of 10.43%. National General Holdings Corp’s revenue for the quarter was up 36.2% on a year-over-year basis. During the same quarter last year, the company posted $0.41 earnings per share. Analysts predict that National General Holdings Corp will post $1.74 EPS for the current year.

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In other news, COO Peter A. Rendall sold 30,901 shares of the stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $21.06, for a total transaction of $650,775.06. Following the completion of the transaction, the chief operating officer now directly owns 126 shares in the company, valued at approximately $2,653.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Peter A. Rendall sold 32,659 shares of the stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $22.05, for a total value of $720,130.95. Following the transaction, the chief operating officer now owns 63,686 shares of the company’s stock, valued at $1,404,276.30. The disclosure for this sale can be found here. 3.43% of the stock is owned by company insiders.

A number of institutional investors have recently made changes to their positions in the company. Ameriprise Financial Inc. boosted its position in shares of National General Holdings Corp by 2.4% in the first quarter. Ameriprise Financial Inc. now owns 1,358,467 shares of the insurance provider’s stock valued at $32,267,000 after buying an additional 32,314 shares during the period. Boston Partners purchased a new position in shares of National General Holdings Corp during the first quarter valued at about $19,999,000. Norges Bank purchased a new position in shares of National General Holdings Corp during the fourth quarter valued at about $625,000. Teachers Advisors LLC boosted its position in shares of National General Holdings Corp by 4.8% in the fourth quarter. Teachers Advisors LLC now owns 79,962 shares of the insurance provider’s stock valued at $1,998,000 after buying an additional 3,692 shares during the period. Finally, Tudor Investment Corp ET AL purchased a new position in shares of National General Holdings Corp during the first quarter valued at about $518,000. Hedge funds and other institutional investors own 53.36% of the company’s stock.

About National General Holdings Corp

National General Holdings Corp. is a specialty personal lines insurance holding company. Through its subsidiaries, the Company provides a range of insurance products, including personal and commercial automobile, homeowners, umbrella, recreational vehicle, supplemental health, lender-placed and other niche products.

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