National General (NGHC) Raised to “Hold” at BidaskClub

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National General (NASDAQ:NGHC) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday, BidAskClub reports.

Several other research analysts also recently weighed in on the stock. Goldman Sachs Group started coverage on shares of National General in a research report on Tuesday, February 19th. They issued a “neutral” rating and a $27.00 target price on the stock. JMP Securities reissued a “buy” rating and issued a $33.00 target price on shares of National General in a research report on Wednesday, February 27th. Zacks Investment Research raised shares of National General from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Thursday, March 7th. Compass Point started 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 on the stock. Finally, B. Riley lifted their target price on shares of National General from $31.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $30.57.

National General stock opened at $24.54 on Thursday. The company has a market capitalization of $2.75 billion, a PE ratio of 11.74 and a beta of 0.71. National General has a fifty-two week low of $21.22 and a fifty-two week high of $28.89.

National General (NASDAQ:NGHC) last released its earnings results on Monday, May 6th. The insurance provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.09. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.19 billion. National General had a net margin of 4.33% and a return on equity of 15.88%. The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period last year, the firm posted $0.62 earnings per share. As a group, research analysts predict that National General will post 2.65 EPS for the current year.

In related news, CFO Michael Hal Weiner sold 5,110 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $24.53, for a total transaction of $125,348.30. Following the completion of the sale, the chief financial officer now directly owns 35,094 shares in the company, valued at $860,855.82. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 3.38% of the company’s stock.

Several hedge funds have recently bought and sold shares of NGHC. Bank of New York Mellon Corp boosted its holdings in shares of National General by 1.3% during the third quarter. Bank of New York Mellon Corp now owns 349,871 shares of the insurance provider’s stock worth $9,391,000 after purchasing an additional 4,541 shares during the period. AQR Capital Management LLC boosted its holdings in shares of National General by 54.2% during the third quarter. AQR Capital Management LLC now owns 48,138 shares of the insurance provider’s stock worth $1,292,000 after purchasing an additional 16,915 shares during the period. Teachers Advisors LLC boosted its holdings in shares of National General by 1.7% during the third quarter. Teachers Advisors LLC now owns 120,295 shares of the insurance provider’s stock worth $3,229,000 after purchasing an additional 2,043 shares during the period. Legal & General Group Plc boosted its holdings in shares of National General by 21.8% during the third quarter. Legal & General Group Plc now owns 23,949 shares of the insurance provider’s stock worth $643,000 after purchasing an additional 4,283 shares during the period. Finally, Morgan Stanley boosted its holdings in shares of National General by 15.0% during the third quarter. Morgan Stanley now owns 182,347 shares of the insurance provider’s stock worth $4,894,000 after purchasing an additional 23,809 shares during the period. Institutional investors and hedge funds own 52.40% of the company’s stock.

About National General

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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Analyst Recommendations for National General (NASDAQ:NGHC)

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