National General Holdings Corp (NASDAQ:NGHC) – Stock analysts at B. Riley boosted their FY2019 earnings estimates for shares of National General in a report released on Thursday. B. Riley analyst R. Binner now forecasts that the insurance provider will post earnings of $2.45 per share for the year, up from their previous forecast of $2.20. B. Riley currently has a “Buy” rating and a $29.00 target price on the stock.
National General (NASDAQ:NGHC) last announced its quarterly earnings data on Wednesday, November 8th. The insurance provider reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.11. National General had a return on equity of 7.30% and a net margin of 2.62%. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the prior year, the firm earned $0.31 EPS. The company’s quarterly revenue was up 23.3% compared to the same quarter last year.
Shares of National General (NGHC) opened at $19.66 on Friday. National General has a 52-week low of $16.21 and a 52-week high of $26.99. The company has a market capitalization of $2,086.48, a price-to-earnings ratio of 18.99 and a beta of 1.33.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. California Public Employees Retirement System lifted its holdings in shares of National General by 4.6% in the third quarter. California Public Employees Retirement System now owns 269,868 shares of the insurance provider’s stock valued at $5,157,000 after purchasing an additional 11,868 shares in the last quarter. B. Riley Financial Inc. purchased a new stake in shares of National General in the third quarter valued at $910,000. Elk Creek Partners LLC lifted its holdings in shares of National General by 11.2% in the third quarter. Elk Creek Partners LLC now owns 990,815 shares of the insurance provider’s stock valued at $18,934,000 after purchasing an additional 100,069 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of National General by 12.5% in the third quarter. Dimensional Fund Advisors LP now owns 1,825,586 shares of the insurance provider’s stock valued at $34,886,000 after purchasing an additional 202,712 shares in the last quarter. Finally, Hartford Investment Management Co. lifted its holdings in shares of National General by 26.0% in the third quarter. Hartford Investment Management Co. now owns 311,369 shares of the insurance provider’s stock valued at $5,950,000 after purchasing an additional 64,175 shares in the last quarter. Institutional investors own 45.62% of the company’s stock.
In other National General news, Director John Drake Nichols bought 24,500 shares of National General stock in a transaction dated Monday, November 27th. The stock was bought at an average price of $20.45 per share, for a total transaction of $501,025.00. Following the completion of the acquisition, the director now directly owns 24,500 shares of the company’s stock, valued at $501,025. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.43% of the stock is owned by corporate insiders.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Tuesday, January 2nd will be issued a $0.04 dividend. The ex-dividend date of this dividend is Friday, December 29th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.81%. National General’s payout ratio is currently 16.49%.
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National General 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.
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