Two Sigma Investments LP lessened its position in shares of National General Holdings (NASDAQ:NGHC) by 55.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 73,096 shares of the insurance provider’s stock after selling 89,623 shares during the period. Two Sigma Investments LP owned about 0.07% of National General worth $1,436,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in NGHC. Comerica Bank lifted its holdings in shares of National General by 49.2% in the 3rd quarter. Comerica Bank now owns 15,257 shares of the insurance provider’s stock worth $310,000 after purchasing an additional 5,031 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of National General by 23.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 47,509 shares of the insurance provider’s stock worth $908,000 after purchasing an additional 9,006 shares during the last quarter. SG Americas Securities LLC acquired a new stake in National General in the 3rd quarter valued at approximately $134,000. American International Group Inc. increased its position in National General by 8.1% in the 3rd quarter. American International Group Inc. now owns 32,926 shares of the insurance provider’s stock valued at $629,000 after acquiring an additional 2,462 shares during the period. Finally, Legal & General Group Plc increased its position in National General by 34.6% in the 3rd quarter. Legal & General Group Plc now owns 22,746 shares of the insurance provider’s stock valued at $433,000 after acquiring an additional 5,849 shares during the period. 46.87% of the stock is currently owned by institutional investors.
In related news, COO Peter A. Rendall sold 6,637 shares of National General stock in a transaction on Thursday, March 29th. The stock was sold at an average price of $24.31, for a total transaction of $161,345.47. Following the completion of the sale, the chief operating officer now owns 17 shares of the company’s stock, valued at $413.27. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Thomas Newgarden sold 5,084 shares of National General stock in a transaction on Monday, March 5th. The shares were sold at an average price of $24.26, for a total value of $123,337.84. Following the sale, the executive vice president now directly owns 4,766 shares of the company’s stock, valued at approximately $115,623.16. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.Several analysts recently commented on NGHC shares. Zacks Investment Research upgraded National General from a “sell” rating to a “hold” rating and set a $22.00 target price on the stock in a research report on Saturday, January 6th. Mizuho lifted their price target on National General from $29.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday, March 21st. B. Riley lifted their price target on National General from $29.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday, March 21st. BidaskClub upgraded National General from a “strong sell” rating to a “sell” rating in a research report on Thursday, March 22nd. Finally, ValuEngine cut National General from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. National General presently has a consensus rating of “Hold” and a consensus price target of $27.50.
Shares of NASDAQ NGHC opened at $25.51 on Friday. The firm has a market capitalization of $2,645.47, a P/E ratio of 22.74 and a beta of 0.93. National General Holdings has a 52-week low of $16.21 and a 52-week high of $25.75.
National General (NASDAQ:NGHC) last issued its earnings results on Monday, February 26th. The insurance provider reported $0.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.07. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.01 billion. National General had a return on equity of 7.10% and a net margin of 1.67%. National General’s revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.30 earnings per share. analysts anticipate that National General Holdings will post 2.23 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, April 16th. Stockholders of record on Monday, April 2nd were given a $0.04 dividend. The ex-dividend date was Thursday, March 29th. This represents a $0.16 annualized dividend and a dividend yield of 0.63%. National General’s dividend payout ratio (DPR) is presently 14.68%.
About National General
National General Holdings Corp., a specialty personal lines insurance holding company, provides various insurance products and services in the United States. The company operates in two segments, Property and Casualty, and Accident and Health. The 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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