National General Holdings Corp (NASDAQ:NGHC) CFO Michael Hal Weiner Sells 5,110 Shares

National General Holdings Corp (NASDAQ:NGHC) CFO Michael Hal Weiner sold 5,110 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $24.53, for a total transaction of $125,348.30. Following the sale, the chief financial officer now owns 35,094 shares in the company, valued at $860,855.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Shares of NASDAQ NGHC opened at $23.45 on Friday. National General Holdings Corp has a 1-year low of $21.22 and a 1-year high of $28.89. The firm has a market cap of $2.65 billion, a P/E ratio of 11.22 and a beta of 0.71.

National General (NASDAQ:NGHC) last issued its quarterly earnings results on Monday, May 6th. The insurance provider reported $0.77 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.09. National General had a return on equity of 16.86% and a net margin of 4.89%. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period last year, the company earned $0.62 earnings per share. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. Analysts anticipate that National General Holdings Corp will post 2.68 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend is Friday, June 28th. National General’s dividend payout ratio (DPR) is currently 7.66%.

Institutional investors have recently added to or reduced their stakes in the business. APG Asset Management N.V. lifted its holdings in National General by 51.7% in the fourth quarter. APG Asset Management N.V. now owns 26,400 shares of the insurance provider’s stock valued at $559,000 after acquiring an additional 9,000 shares during the period. Bank of America Corp DE increased its position in shares of National General by 10.6% in the fourth quarter. Bank of America Corp DE now owns 693,140 shares of the insurance provider’s stock valued at $16,782,000 after buying an additional 66,327 shares in the last quarter. American International Group Inc. increased its position in shares of National General by 4.1% in the fourth quarter. American International Group Inc. now owns 42,562 shares of the insurance provider’s stock valued at $1,030,000 after buying an additional 1,665 shares in the last quarter. First Quadrant L P CA increased its position in shares of National General by 165.9% in the fourth quarter. First Quadrant L P CA now owns 16,257 shares of the insurance provider’s stock valued at $394,000 after buying an additional 10,144 shares in the last quarter. Finally, Strs Ohio increased its position in shares of National General by 31.5% in the fourth quarter. Strs Ohio now owns 38,400 shares of the insurance provider’s stock valued at $929,000 after buying an additional 9,207 shares in the last quarter. 52.32% of the stock is owned by institutional investors.

A number of research firms recently weighed in on NGHC. BidaskClub upgraded shares of National General from a “hold” rating to a “buy” rating in a research note on Tuesday, March 5th. Zacks Investment Research upgraded shares of National General from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Thursday, March 7th. JMP Securities reiterated a “buy” rating and issued a $33.00 price target on shares of National General in a research note on Wednesday, February 27th. Goldman Sachs Group began coverage on shares of National General in a research note on Tuesday, February 19th. They issued a “neutral” rating and a $27.00 price target on the stock. Finally, B. Riley increased their price target on shares of National General from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $30.57.

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National General Company Profile

National General Holdings Corp., a specialty personal lines insurance holding company, provides various insurance products and services in the United States, Bermuda, Luxembourg, and Sweden. The company's 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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