Geode Capital Management LLC Increases Stake in National General Holdings Corp (NASDAQ:NGHC)

Geode Capital Management LLC raised its stake in shares of National General Holdings Corp (NASDAQ:NGHC) by 4.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 540,076 shares of the insurance provider’s stock after buying an additional 23,733 shares during the period. Geode Capital Management LLC owned about 0.51% of National General Holdings Corp worth $12,832,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. boosted its stake in National General Holdings Corp by 4.6% in the first quarter. Vanguard Group Inc. now owns 4,118,335 shares of the insurance provider’s stock worth $97,851,000 after buying an additional 180,570 shares in the last quarter. Thrivent Financial For Lutherans purchased a new stake in National General Holdings Corp during the first quarter worth approximately $4,608,000. Legal & General Group Plc boosted its stake in National General Holdings Corp by 15.2% in the first quarter. Legal & General Group Plc now owns 16,545 shares of the insurance provider’s stock worth $393,000 after buying an additional 2,188 shares in the last quarter. Elk Creek Partners LLC boosted its stake in National General Holdings Corp by 2.6% in the first quarter. Elk Creek Partners LLC now owns 829,234 shares of the insurance provider’s stock worth $19,703,000 after buying an additional 21,036 shares in the last quarter. Finally, RE Advisers Corp boosted its stake in National General Holdings Corp by 25.7% in the first quarter. RE Advisers Corp now owns 1,248,549 shares of the insurance provider’s stock worth $29,666,000 after buying an additional 255,249 shares in the last quarter. Institutional investors own 53.21% of the company’s stock.

National General Holdings Corp (NASDAQ:NGHC) traded up 0.33% on Friday, reaching $18.04. 219,286 shares of the company’s stock traded hands. National General Holdings Corp has a 52-week low of $17.79 and a 52-week high of $26.99. The company’s 50 day moving average is $20.33 and its 200-day moving average is $22.30. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of 24.38 and a beta of 1.25.

National General Holdings Corp (NASDAQ:NGHC) last posted its quarterly earnings data on Monday, August 7th. The insurance provider reported $0.11 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.39 by $0.28. National General Holdings Corp had a net margin of 2.13% and a return on equity of 7.80%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $966.51 million. During the same quarter last year, the firm earned $0.41 EPS. The company’s revenue was up 36.2% on a year-over-year basis. Equities analysts expect that National General Holdings Corp will post $1.37 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Sunday, October 1st will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date is Thursday, September 28th. National General Holdings Corp’s dividend payout ratio (DPR) is 22.22%.

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A number of brokerages recently weighed in on NGHC. ValuEngine lowered shares of National General Holdings Corp from a “buy” rating to a “hold” rating in a research note on Thursday, May 25th. Keefe, Bruyette & Woods restated a “buy” rating and set a $27.00 price objective on shares of National General Holdings Corp in a research note on Wednesday, June 21st. BidaskClub upgraded shares of National General Holdings Corp from a “strong sell” rating to a “sell” rating in a research note on Friday, June 30th. Zacks Investment Research upgraded shares of National General Holdings Corp from a “strong sell” rating to a “hold” rating and set a $24.00 price objective for the company in a research note on Thursday, July 20th. Finally, TheStreet downgraded shares of National General Holdings Corp from a “b-” rating to a “c” rating in a research note on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. National General Holdings Corp presently has a consensus rating of “Hold” and an average price target of $24.67.

In related news, COO Peter A. Rendall sold 32,659 shares of the company’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $22.05, for a total value of $720,130.95. Following the completion of the sale, the chief operating officer now directly owns 63,686 shares of the company’s stock, valued at $1,404,276.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Peter A. Rendall sold 30,901 shares of the company’s stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $21.06, for a total transaction of $650,775.06. Following the completion of the sale, the chief operating officer now directly owns 126 shares of the company’s stock, valued at $2,653.56. The disclosure for this sale can be found here. Insiders own 3.43% of the company’s stock.

National General Holdings Corp Company Profile

National General Holdings Corp. is a specialty personal lines insurance holding company. Through its subsidiaries, the Company provides a range of insurance products, including personal and commercial automobile, homeowners, umbrella, recreational vehicle, supplemental health, lender-placed and other niche products.

Institutional Ownership by Quarter for National General Holdings Corp (NASDAQ:NGHC)

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