A number of other equities analysts have also recently commented on NGHC. Zacks Investment Research cut Investar from a hold rating to a sell rating in a report on Thursday, March 7th. Compass Point set a $36.00 price objective on shares of National General and gave the stock a hold rating in a research report on Monday, June 24th. ValuEngine downgraded shares of Valero Energy from a hold rating to a sell rating in a research report on Wednesday, May 8th. JMP Securities lifted their price objective on shares of Veeva Systems from $108.00 to $122.00 and gave the company a market outperform rating in a research note on Wednesday, February 27th. Finally, B. Riley set a $18.00 price objective on shares of TiVo and gave the company a buy rating in a research note on Friday, May 31st. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $32.00.
NGHC stock traded down $0.09 during trading hours on Wednesday, reaching $22.34. 158,974 shares of the stock were exchanged, compared to its average volume of 238,901. The company has a market cap of $2.55 billion, a P/E ratio of 10.69 and a beta of 0.67. The firm’s 50-day simple moving average is $23.34. National General has a 12 month low of $21.22 and a 12 month high of $28.89.
The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Monday, July 1st were issued a $0.04 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.16 annualized dividend and a yield of 0.72%. National General’s payout ratio is 7.66%.
In other news, CFO Michael Hal Weiner sold 5,110 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $24.53, for a total transaction of $125,348.30. Following the transaction, the chief financial officer now owns 35,094 shares in the company, valued at $860,855.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders sold 15,330 shares of company stock worth $366,080. 3.38% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in NGHC. Macquarie Group Ltd. raised its holdings in shares of National General by 116.7% during the 4th quarter. Macquarie Group Ltd. now owns 1,300 shares of the insurance provider’s stock valued at $31,000 after buying an additional 700 shares during the period. Nisa Investment Advisors LLC boosted its position in National General by 100.0% during the 1st quarter. Nisa Investment Advisors LLC now owns 2,000 shares of the insurance provider’s stock valued at $47,000 after purchasing an additional 1,000 shares during the period. Quadrant Capital Group LLC acquired a new position in National General during the 1st quarter valued at approximately $52,000. Cambria Investment Management L.P. bought a new stake in National General during the 1st quarter valued at $137,000. Finally, Amalgamated Bank bought a new stake in National General during the 4th quarter valued at $214,000. 51.92% of the stock is currently owned by institutional investors.
About National General
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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