BidaskClub Downgrades National General (NGHC) to Sell

National General (NASDAQ:NGHC) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Tuesday.

Other analysts also recently issued research reports about the company. TheStreet raised National General from a “c” rating to a “b” rating in a research report on Tuesday, November 21st. B. Riley reissued a “buy” rating and set a $29.00 price objective on shares of National General in a research report on Monday, November 6th. Zacks Investment Research cut National General from a “hold” rating to a “sell” rating in a research report on Wednesday, December 6th. FBR & Co reissued a “buy” rating and set a $29.00 price objective on shares of National General in a research report on Monday, September 18th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating on shares of National General in a research report on Friday, September 29th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. National General has a consensus rating of “Hold” and a consensus price target of $26.40.

Shares of National General (NASDAQ NGHC) opened at $20.47 on Tuesday. The stock has a market capitalization of $2,195.28, a price-to-earnings ratio of 19.98 and a beta of 1.33. National General has a 52-week low of $16.21 and a 52-week high of $26.99.

National General (NASDAQ:NGHC) last posted its quarterly earnings results on Wednesday, November 8th. The insurance provider reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.11. National General had a return on equity of 7.30% and a net margin of 2.62%. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period in the previous year, the firm earned $0.31 earnings per share. National General’s quarterly revenue was up 23.3% on a year-over-year basis. equities research analysts predict that National General will post 0.98 EPS for the current fiscal year.

In other news, Director John Drake Nichols acquired 24,500 shares of the firm’s stock in a transaction on Monday, November 27th. The shares were purchased at an average cost of $20.45 per share, for a total transaction of $501,025.00. Following the transaction, the director now owns 24,500 shares of the company’s stock, valued at $501,025. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 3.43% of the stock is owned by corporate insiders.

A number of institutional investors have recently modified their holdings of NGHC. BNP Paribas Arbitrage SA raised its stake in National General by 530.6% during the 2nd 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 during the period. SG Americas Securities LLC acquired a new stake in National General during the 3rd quarter worth $134,000. Pacad Investment Ltd. acquired a new stake in National General during the 2nd quarter worth $143,000. First Quadrant L P CA raised its stake in National General by 118.8% during the 3rd quarter. First Quadrant L P CA now owns 9,850 shares of the insurance provider’s stock worth $188,000 after buying an additional 5,348 shares during the period. Finally, Trexquant Investment LP acquired a new stake in National General during the 3rd quarter worth $202,000. 45.63% of the stock is currently owned by institutional investors and hedge funds.

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National General 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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