Zacks Investment Research Downgrades National General Holdings Corp (NASDAQ:NGHC) to Hold

Zacks Investment Research downgraded shares of National General Holdings Corp (NASDAQ:NGHC) from a buy rating to a hold rating in a report published on Friday.

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 equities research analysts have also recently issued reports on NGHC. BidaskClub cut National General Holdings Corp from a sell rating to a strong sell rating in a research note on Wednesday. Morgan Stanley reduced their target price on National General Holdings Corp from $25.00 to $23.00 and set an equal weight rating for the company in a report on Thursday. TheStreet lowered National General Holdings Corp from a b- rating to a c rating in a report on Tuesday, August 8th. Keefe, Bruyette & Woods reaffirmed a buy rating and set a $27.00 target price on shares of National General Holdings Corp in a report on Tuesday, July 25th. Finally, ValuEngine lowered National General Holdings Corp from a buy rating to a hold rating in a report on Thursday, May 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $24.67.

National General Holdings Corp (NASDAQ:NGHC) traded down 0.06% during trading on Friday, hitting $17.99. 507,131 shares of the company traded hands. National General Holdings Corp has a 12-month low of $17.95 and a 12-month high of $26.99. The company has a market capitalization of $1.92 billion, a P/E ratio of 24.31 and a beta of 1.25. The stock has a 50 day moving average price of $20.77 and a 200 day moving average price of $22.53.

National General Holdings Corp (NASDAQ:NGHC) last announced its quarterly earnings data 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. National General Holdings Corp had a net margin of 2.13% and a return on equity of 7.80%. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $966.51 million. During the same quarter in the prior year, the firm posted $0.41 earnings per share. The company’s revenue was up 36.2% on a year-over-year basis. On average, equities analysts anticipate that National General Holdings Corp will post $1.37 earnings per share for the current year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Sunday, October 1st will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Thursday, September 28th. National General Holdings Corp’s payout ratio is 22.22%.

In other National General Holdings Corp news, CEO Barry Karfunkel acquired 25,000 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was bought at an average price of $18.25 per share, with a total value of $456,250.00. Following the completion of the acquisition, the chief executive officer now owns 110,073 shares of the company’s stock, valued at $2,008,832.25. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Peter A. Rendall sold 32,659 shares of the business’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $22.05, for a total value of $720,130.95. Following the transaction, the chief operating officer now directly owns 63,686 shares of the company’s stock, valued at approximately $1,404,276.30. The disclosure for this sale can be found here. 3.43% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the company. Boston Partners purchased a new stake in shares of National General Holdings Corp during the first quarter valued at about $19,999,000. Northern Trust Corp raised its stake in shares of National General Holdings Corp by 43.6% in the second quarter. Northern Trust Corp now owns 1,000,324 shares of the insurance provider’s stock valued at $21,107,000 after buying an additional 303,730 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of National General Holdings Corp by 14.6% in the first quarter. Wells Fargo & Company MN now owns 2,037,874 shares of the insurance provider’s stock valued at $48,420,000 after buying an additional 259,243 shares in the last quarter. RE Advisers Corp raised its stake in shares of National General Holdings Corp by 25.7% in the first quarter. RE Advisers Corp now owns 1,248,549 shares of the insurance provider’s stock valued at $29,666,000 after buying an additional 255,249 shares in the last quarter. Finally, Thrivent Financial For Lutherans purchased a new stake in shares of National General Holdings Corp during the first quarter valued at about $4,608,000. 53.36% of the stock is owned by institutional investors and hedge funds.

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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