Analysts Set National General Holdings Corp (NASDAQ:NGHC) PT at $31.17
Shares of National General Holdings Corp (NASDAQ:NGHC) have been assigned an average recommendation of “Hold” from the eight analysts that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $31.17.
Several analysts have recently weighed in on NGHC shares. B. Riley lifted their price objective on shares of National General from $33.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Compass Point set a $36.00 price objective on shares of National General and gave the company a “hold” rating in a research note on Monday, June 24th. BidaskClub upgraded shares of National General from a “sell” rating to a “hold” rating in a research note on Thursday. Zacks Investment Research upgraded shares of National General from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research note on Saturday, July 27th. Finally, ValuEngine lowered shares of National General from a “hold” rating to a “sell” rating in a research note on Thursday, June 27th.
Shares of NASDAQ:NGHC traded up $0.23 during mid-day trading on Friday, hitting $24.72. The company had a trading volume of 2,909 shares, compared to its average volume of 154,575. The firm has a fifty day moving average price of $23.78 and a 200 day moving average price of $23.88. The company has a market capitalization of $2.71 billion, a PE ratio of 11.83 and a beta of 0.67. National General has a one year low of $21.22 and a one year high of $28.89.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 16th. Shareholders of record on Wednesday, October 2nd will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date is Tuesday, October 1st. This is a positive change from National General’s previous quarterly dividend of $0.04. National General’s payout ratio is 7.66%.
In other National General news, CFO Michael Hal Weiner sold 5,110 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $23.00, for a total transaction of $117,530.00. Following the completion of the sale, the chief financial officer now owns 49,560 shares in the company, valued at approximately $1,139,880. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 15,846 shares of company stock valued at $373,503 in the last 90 days. 3.38% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in National General by 3.7% during the 2nd quarter. Vanguard Group Inc. now owns 5,993,589 shares of the insurance provider’s stock worth $137,493,000 after acquiring an additional 213,714 shares during the last quarter. Park West Asset Management LLC lifted its holdings in National General by 2.7% during the second quarter. Park West Asset Management LLC now owns 5,248,841 shares of the insurance provider’s stock valued at $120,408,000 after purchasing an additional 138,130 shares during the last quarter. BlackRock Inc. lifted its holdings in National General by 7.5% during the second quarter. BlackRock Inc. now owns 4,772,804 shares of the insurance provider’s stock valued at $109,490,000 after purchasing an additional 332,838 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in National General by 0.6% during the first quarter. Wells Fargo & Company MN now owns 3,157,789 shares of the insurance provider’s stock valued at $74,933,000 after purchasing an additional 17,725 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in National General by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,821,475 shares of the insurance provider’s stock valued at $68,307,000 after purchasing an additional 41,234 shares during the last quarter. 52.11% of the stock is currently owned by hedge funds and other institutional investors.
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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