IndexIQ Advisors LLC lessened its stake in shares of National General Holdings Corp (NASDAQ:NGHC) by 24.6% during the 1st quarter, Holdings Channel reports. The firm owned 65,181 shares of the insurance provider’s stock after selling 21,280 shares during the quarter. IndexIQ Advisors LLC’s holdings in National General were worth $1,547,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in the business. APG Asset Management N.V. boosted its holdings in shares of National General by 51.7% in the 4th 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 last quarter. Bank of America Corp DE lifted its stake in shares of National General by 10.6% in the 4th quarter. Bank of America Corp DE now owns 693,140 shares of the insurance provider’s stock valued at $16,782,000 after purchasing an additional 66,327 shares during the period. American International Group Inc. raised its position in National General by 4.1% during the fourth quarter. American International Group Inc. now owns 42,562 shares of the insurance provider’s stock worth $1,030,000 after acquiring an additional 1,665 shares during the period. First Quadrant L P CA raised its position in National General by 165.9% during the fourth quarter. First Quadrant L P CA now owns 16,257 shares of the insurance provider’s stock worth $394,000 after acquiring an additional 10,144 shares during the period. Finally, Strs Ohio raised its position in National General by 31.5% during the fourth quarter. Strs Ohio now owns 38,400 shares of the insurance provider’s stock worth $929,000 after acquiring an additional 9,207 shares during the period. 52.32% of the stock is currently owned by institutional investors.
Shares of NASDAQ NGHC opened at $23.45 on Monday. The stock has a market capitalization of $2.65 billion, a PE ratio of 11.22 and a beta of 0.71. National General Holdings Corp has a 52 week low of $21.22 and a 52 week high of $28.89.
National General (NASDAQ:NGHC) last issued its earnings results on Monday, May 6th. The insurance provider reported $0.77 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.09. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.19 billion. National General had a net margin of 4.89% and a return on equity of 16.86%. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.62 earnings per share. Sell-side analysts anticipate that National General Holdings Corp will post 2.68 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend is Friday, June 28th. National General’s dividend payout ratio (DPR) is 7.66%.
In related 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 value of $125,348.30. Following the completion of the sale, the chief financial officer now owns 35,094 shares of the company’s stock, valued at $860,855.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.38% of the stock is owned by corporate insiders.
A number of research firms have weighed in on NGHC. BidaskClub cut shares of National General from a “hold” rating to a “sell” rating in a research report on Saturday. Zacks Investment Research cut shares of National General from a “hold” rating to a “sell” rating in a research report on Wednesday, February 13th. ValuEngine upgraded shares of National General from a “sell” rating to a “hold” rating in a research report on Wednesday, May 8th. B. Riley increased their target price on shares of National General from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. Finally, Compass Point assumed coverage on shares of National General in a research report on Wednesday, March 20th. They issued a “buy” rating and a $34.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The stock presently 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.
Further Reading: Calculating net profit and net profit margin ratio
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