National General (NGHC) Lowered to “Hold” at BidaskClub

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BidaskClub cut shares of National General (NASDAQ:NGHC) from a buy rating to a hold rating in a research note released on Thursday.

Several other brokerages have also recently weighed in on NGHC. Zacks Investment Research cut National General from a buy rating to a hold rating in a research report on Tuesday, January 8th. JMP Securities reiterated a buy rating and issued a $33.00 price target on shares of National General in a research report on Wednesday, February 27th. Goldman Sachs Group started coverage on National General in a research report on Tuesday, February 19th. They issued a neutral rating and a $27.00 price target for the company. Finally, Morgan Stanley set a $30.00 price target on National General and gave the company a hold rating in a research report on Wednesday, November 14th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $30.14.

National General stock traded down $0.16 during mid-day trading on Thursday, reaching $24.94. 2,491 shares of the company’s stock were exchanged, compared to its average volume of 238,452. The firm has a market capitalization of $2.82 billion, a P/E ratio of 11.90 and a beta of 0.72. National General has a one year low of $21.22 and a one year high of $28.89.

National General (NASDAQ:NGHC) last issued its earnings results on Monday, February 25th. The insurance provider reported $0.30 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.01). National General had a net margin of 4.33% and a return on equity of 15.88%. During the same period in the prior year, the business earned $0.28 earnings per share. On average, research analysts anticipate that National General will post 2.64 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Monday, April 1st will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.64%. The ex-dividend date is Friday, March 29th. National General’s payout ratio is 7.66%.

In other National General news, CEO Barry Karfunkel bought 7,000 shares of National General stock in a transaction that occurred on Monday, December 24th. The stock was acquired at an average cost of $23.23 per share, for a total transaction of $162,610.00. Following the completion of the transaction, the chief executive officer now directly owns 134,245 shares in the company, valued at $3,118,511.35. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Robert Karfunkel bought 20,000 shares of National General stock in a transaction that occurred on Monday, December 24th. The shares were acquired at an average price of $23.22 per share, with a total value of $464,400.00. Following the completion of the transaction, the president now owns 86,071 shares of the company’s stock, valued at $1,998,568.62. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 28,148 shares of company stock valued at $652,840. 3.40% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of NGHC. Bank of New York Mellon Corp boosted its holdings in shares of National General by 8.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 345,330 shares of the insurance provider’s stock worth $9,092,000 after purchasing an additional 27,390 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of National General by 26.1% in the 3rd quarter. First Trust Advisors LP now owns 45,108 shares of the insurance provider’s stock worth $1,211,000 after purchasing an additional 9,335 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in shares of National General by 142.2% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 58,543 shares of the insurance provider’s stock worth $1,571,000 after purchasing an additional 34,374 shares in the last quarter. Zeke Capital Advisors LLC purchased a new position in shares of National General in the 3rd quarter worth about $524,000. Finally, AXA purchased a new position in shares of National General in the 3rd quarter worth about $844,000. Hedge funds and other institutional investors own 54.25% 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. The company operates in two segments, Property and Casualty, and Accident and Health. The 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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Analyst Recommendations for National General (NASDAQ:NGHC)

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