National General Holdings Corp (NASDAQ:NGHC) – B. Riley upped their FY2018 earnings per share estimates for shares of National General in a report issued on Thursday, Zacks Investment Research reports. B. Riley analyst R. Binner now anticipates that the insurance provider will earn $2.20 per share for the year, up from their prior forecast of $2.00. B. Riley has a “Buy” rating and a $29.00 price objective on the stock.
National General (NASDAQ:NGHC) last released its quarterly earnings data on Wednesday, November 8th. The insurance provider reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.11. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.09 billion. National General had a return on equity of 7.30% and a net margin of 2.62%. National General’s revenue was up 23.3% compared to the same quarter last year. During the same period last year, the firm posted $0.31 earnings per share.
National General (NASDAQ NGHC) traded up $0.22 during trading hours on Monday, reaching $20.46. The company had a trading volume of 287,100 shares, compared to its average volume of 254,767. The firm has a market capitalization of $2,182.48, a price-to-earnings ratio of 21.09 and a beta of 1.33. National General has a fifty-two week low of $16.21 and a fifty-two week high of $26.99.
The company also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Shareholders of record on Tuesday, January 2nd will be given a $0.04 dividend. The ex-dividend date of this dividend is Friday, December 29th. This represents a $0.16 annualized dividend and a yield of 0.78%. National General’s dividend payout ratio is presently 16.49%.
In other news, Director John Drake Nichols bought 24,500 shares of the company’s stock in a transaction on Monday, November 27th. The stock was purchased at an average cost of $20.45 per share, for a total transaction of $501,025.00. Following the completion of the transaction, the director now owns 24,500 shares of the company’s stock, valued at $501,025. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 3.43% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of NGHC. Russell Investments Group Ltd. raised its position in shares of National General by 8.8% during the second quarter. Russell Investments Group Ltd. now owns 38,503 shares of the insurance provider’s stock worth $812,000 after acquiring an additional 3,126 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of National General by 5.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 241,138 shares of the insurance provider’s stock worth $5,089,000 after acquiring an additional 12,235 shares during the last quarter. First Trust Advisors LP raised its position in shares of National General by 26.0% during the second quarter. First Trust Advisors LP now owns 107,090 shares of the insurance provider’s stock worth $2,260,000 after acquiring an additional 22,109 shares during the last quarter. Rhumbline Advisers raised its position in shares of National General by 1.6% during the second quarter. Rhumbline Advisers now owns 57,281 shares of the insurance provider’s stock worth $1,209,000 after acquiring an additional 886 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of National General by 1.3% during the second quarter. Bank of New York Mellon Corp now owns 309,649 shares of the insurance provider’s stock worth $6,534,000 after acquiring an additional 4,031 shares during the last quarter. Institutional investors own 45.62% of the company’s stock.
About National General
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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