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

National General Holdings Corp (NASDAQ:NGHC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors 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. “

Several other research analysts also recently weighed in on the stock. ValuEngine downgraded shares of National General Holdings Corp from a “buy” rating to a “hold” rating in a research note on Thursday, May 25th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $27.00 target price on shares of National General Holdings Corp in a research note on Wednesday, June 21st. BidaskClub raised shares of National General Holdings Corp from a “strong sell” rating to a “sell” rating in a research note on Friday, June 30th. TheStreet downgraded shares of National General Holdings Corp from a “b-” rating to a “c” rating in a research note on Tuesday. Finally, Morgan Stanley cut their target price on shares of National General Holdings Corp from $25.00 to $23.00 and set an “equal weight” rating for the company in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $24.67.

Shares of National General Holdings Corp (NASDAQ NGHC) opened at 18.00 on Friday. The company’s 50-day moving average is $20.88 and its 200 day moving average is $22.58. National General Holdings Corp has a 52-week low of $17.95 and a 52-week high of $26.99. The firm has a market capitalization of $1.92 billion, a PE ratio of 24.32 and a beta of 1.25.

National General Holdings Corp (NASDAQ:NGHC) last announced its earnings results on Monday, August 7th. The insurance provider reported $0.11 earnings per share for the quarter, missing the 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 7.83%. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $966.51 million. During the same period in the previous year, the firm posted $0.41 EPS. The company’s revenue for the quarter was up 36.2% compared to the same quarter last year. Equities analysts expect that National General Holdings Corp will post $1.44 earnings per share for the current fiscal year.

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In related news, CEO Barry Karfunkel acquired 25,000 shares of the company’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 purchase, the chief executive officer now directly owns 110,073 shares in the company, valued at approximately $2,008,832.25. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Peter A. Rendall sold 30,901 shares of the company’s stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $21.06, for a total transaction of $650,775.06. Following the transaction, the chief operating officer now directly owns 126 shares of the company’s stock, valued at approximately $2,653.56. The disclosure for this sale can be found here. Corporate insiders own 3.43% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA increased its position in National General Holdings Corp by 530.6% in the second quarter. BNP Paribas Arbitrage SA now owns 5,663 shares of the insurance provider’s stock worth $119,000 after buying an additional 4,765 shares in the last quarter. Pacad Investment Ltd. bought a new position in National General Holdings Corp during the second quarter worth approximately $143,000. Comerica Bank bought a new position in National General Holdings Corp during the second quarter worth approximately $217,000. Nomura Holdings Inc. bought a new position in National General Holdings Corp during the first quarter worth approximately $310,000. Finally, BW Gestao de Investimentos Ltda. increased its position in National General Holdings Corp by 17.1% in the first quarter. BW Gestao de Investimentos Ltda. now owns 15,350 shares of the insurance provider’s stock worth $365,000 after buying an additional 2,245 shares in the last quarter. 53.36% of the stock is owned by institutional investors.

National General Holdings Corp Company Profile

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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