Quantamental Technologies LLC Lowers Stock Holdings in National General Holdings Corp (NASDAQ:NGHC)
Quantamental Technologies LLC reduced its position in National General Holdings Corp (NASDAQ:NGHC) by 42.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 2,409 shares of the insurance provider’s stock after selling 1,755 shares during the period. Quantamental Technologies LLC’s holdings in National General were worth $55,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its stake in shares of National General by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,821,475 shares of the insurance provider’s stock valued at $68,307,000 after buying an additional 41,234 shares during the period. Geode Capital Management LLC grew its stake in shares of National General by 19.2% during the 4th quarter. Geode Capital Management LLC now owns 837,134 shares of the insurance provider’s stock valued at $20,266,000 after buying an additional 134,820 shares during the period. BNP Paribas Arbitrage SA grew its stake in shares of National General by 460.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 14,982 shares of the insurance provider’s stock valued at $356,000 after buying an additional 12,311 shares during the period. SG Americas Securities LLC purchased a new stake in shares of National General during the 1st quarter valued at $294,000. Finally, Rhumbline Advisers grew its stake in shares of National General by 1.1% during the 1st quarter. Rhumbline Advisers now owns 88,307 shares of the insurance provider’s stock valued at $2,096,000 after buying an additional 964 shares during the period. 52.11% of the stock is owned by hedge funds and other institutional investors.
In related news, CFO Michael Hal Weiner sold 5,110 shares of National General stock in a transaction on Monday, June 17th. The shares were sold at an average price of $24.09, for a total transaction of $123,099.90. Following the transaction, the chief financial officer now owns 44,623 shares in the company, valued at approximately $1,074,968.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 15,846 shares of company stock worth $373,503 in the last 90 days. Company insiders own 3.38% of the company’s stock.
National General (NASDAQ:NGHC) last posted its earnings results on Monday, July 29th. The insurance provider reported $0.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.07. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.37 billion. National General had a net margin of 5.44% and a return on equity of 16.90%. The business’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.54 EPS. On average, equities research analysts forecast that National General Holdings Corp will post 2.7 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 16th. Investors of record on Wednesday, October 2nd will be issued a dividend of $0.05 per share. This is a positive change from National General’s previous quarterly dividend of $0.04. The ex-dividend date is Tuesday, October 1st. This represents a $0.20 annualized dividend and a dividend yield of 0.81%. National General’s payout ratio is presently 7.66%.
NGHC has been the subject of several research reports. B. Riley boosted 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. Zacks Investment Research raised 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. BidaskClub raised shares of National General from a “sell” rating to a “hold” rating in a research note on Thursday. 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. Finally, ValuEngine cut shares of National General from a “hold” rating to a “sell” rating in a research note on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $31.17.
National General 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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