National General (NGHC) Upgraded to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of National General (NASDAQ:NGHC) from a hold rating to a buy rating in a report published on Thursday morning. They currently have $31.00 price target on the insurance provider’s stock.

According to Zacks, “National General Holdings Corp. is a specialty personal lines insurance holding company. The Company, through its subsidiaries, provides personal and commercial automobile insurance, recreational vehicle and motorcycle insurance, supplemental health insurance products and other niche insurance products. It operates in two segments, Property and Casualty and Accident and Health. The Property and Casualty segment offers standard and preferred automobile and sub-standard automobile insurance policies; Recreational vehicle insurance policies; commercial automobile insurance policies; and motorcycle insurance policies for various types of motorcycles, as well as golf carts and all-terrain vehicles. The Accident and Health segment provides accident and non-major medical health insurance products. National General Holdings Corp. is headquartered in New York. “

A number of other analysts have also weighed in on the stock. Mizuho upped their target price on shares of National General from $29.00 to $31.00 and gave the stock a buy rating in a report on Wednesday, March 21st. B. Riley upped their target price on shares of National General from $29.00 to $31.00 and gave the stock a buy rating in a report on Wednesday, March 21st. BidaskClub raised shares of National General from a strong sell rating to a sell rating in a report on Thursday, March 22nd. ValuEngine lowered shares of National General from a buy rating to a hold rating in a report on Monday, April 2nd. Finally, JMP Securities upped their target price on shares of National General to $28.00 and gave the stock a market outperform rating in a report on Tuesday, May 8th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. National General presently has an average rating of Buy and a consensus target price of $29.71.

National General opened at $27.44 on Thursday, according to MarketBeat Ratings. National General has a 12-month low of $16.21 and a 12-month high of $28.05. The company has a market capitalization of $2.93 billion, a PE ratio of 25.17 and a beta of 0.94.

National General (NASDAQ:NGHC) last posted its quarterly earnings results on Monday, May 7th. The insurance provider reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.10. National General had a net margin of 2.23% and a return on equity of 8.80%. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the previous year, the firm posted $0.33 earnings per share. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. sell-side analysts expect that National General will post 2.28 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 16th. Stockholders of record on Monday, July 2nd will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date is Friday, June 29th. National General’s payout ratio is 14.68%.

Several large investors have recently modified their holdings of the company. Park West Asset Management LLC increased its holdings in shares of National General by 5.0% in the 4th quarter. Park West Asset Management LLC now owns 4,606,870 shares of the insurance provider’s stock worth $90,479,000 after buying an additional 220,883 shares during the last quarter. BlackRock Inc. increased its holdings in shares of National General by 0.4% in the 4th quarter. BlackRock Inc. now owns 3,409,871 shares of the insurance provider’s stock worth $66,970,000 after buying an additional 15,144 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of National General by 10.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,362,311 shares of the insurance provider’s stock worth $57,428,000 after buying an additional 228,870 shares during the last quarter. MSD Partners L.P. increased its holdings in shares of National General by 86.0% in the 1st quarter. MSD Partners L.P. now owns 2,162,500 shares of the insurance provider’s stock worth $52,570,000 after buying an additional 1,000,000 shares during the last quarter. Finally, Boston Partners increased its holdings in shares of National General by 4.5% in the 1st quarter. Boston Partners now owns 1,810,598 shares of the insurance provider’s stock worth $44,016,000 after buying an additional 78,422 shares during the last quarter. 46.61% of the stock is currently owned by hedge funds and other institutional investors.

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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