Today, Nationwide Fund Advisors Sold shares of National General Holdings Corp. (NGHC)

Today, Nationwide Fund Advisors Sold shares of National General Holdings Corp. (NGHC)

Nationwide Fund Advisors reduced its position in shares of National General Holdings Corp. (NASDAQ:NGHC) by 1.8% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 66,600 shares of the company’s stock after selling 1,200 shares during the period. Nationwide Fund Advisors’ holdings in National General Holdings Corp. were worth $1,481,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in NGHC. US Bancorp DE boosted its stake in National General Holdings Corp. by 1.5% in the second quarter. US Bancorp DE now owns 5,664 shares of the company’s stock worth $122,000 after buying an additional 83 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in shares of National General Holdings Corp. by 31.0% in the second quarter. Advisors Asset Management Inc. now owns 5,845 shares of the company’s stock valued at $125,000 after buying an additional 1,384 shares during the period. BlackRock Inc. boosted its stake in shares of National General Holdings Corp. by 850.8% in the second quarter. BlackRock Inc. now owns 7,635 shares of the company’s stock valued at $164,000 after buying an additional 6,832 shares during the period. Teacher Retirement System of Texas boosted its stake in shares of National General Holdings Corp. by 43.3% in the second quarter. Teacher Retirement System of Texas now owns 8,359 shares of the company’s stock valued at $179,000 after buying an additional 2,526 shares during the period. Finally, Suntrust Banks Inc. acquired a new stake in shares of National General Holdings Corp. during the second quarter valued at $207,000. Hedge funds and other institutional investors own 41.65% of the company’s stock.

National General Holdings Corp. (NASDAQ:NGHC) traded down 1.94% during trading on Monday, reaching $22.72. 281,212 shares of the company’s stock traded hands. The company’s 50 day moving average is $21.83 and its 200-day moving average is $21.64. National General Holdings Corp. has a 52-week low of $18.04 and a 52-week high of $23.59. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of 18.79 and a beta of 1.27.

National General Holdings Corp. (NASDAQ:NGHC) last posted its earnings results on Wednesday, November 2nd. The company reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.07. National General Holdings Corp. had a return on equity of 12.60% and a net margin of 4.36%. The firm earned $857.38 million during the quarter, compared to the consensus estimate of $846.07 million. During the same quarter in the previous year, the company earned $0.43 EPS. The business’s revenue was up 56.2% compared to the same quarter last year. On average, analysts anticipate that National General Holdings Corp. will post $1.47 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 17th. Stockholders of record on Tuesday, January 3rd will be paid a $0.04 dividend. The ex-dividend date is Thursday, December 29th. This represents a $0.16 annualized dividend and a dividend yield of 0.70%. National General Holdings Corp.’s payout ratio is 13.11%.

Several brokerages have weighed in on NGHC. Morgan Stanley cut shares of National General Holdings Corp. from an “overweight” rating to an “equal weight” rating and set a $23.00 price objective for the company. in a research note on Friday, November 18th. They noted that the move was a valuation call. Zacks Investment Research cut shares of National General Holdings Corp. from a “buy” rating to a “sell” rating in a research note on Wednesday, October 5th. William Blair reiterated an “outperform” rating on shares of National General Holdings Corp. in a research note on Saturday, September 10th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of National General Holdings Corp. from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 3rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $26.00.

In related news, General Counsel Jeffrey Weissmann sold 18,000 shares of the stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $22.78, for a total transaction of $410,040.00. Following the completion of the transaction, the general counsel now owns 34,053 shares in the company, valued at $775,727.34. The transaction was disclosed in a document filed with the SEC, which is available through this link. 14.10% of the stock is currently owned by insiders.

National General Holdings Corp. Company Profile

National General Holdings Corp. is a 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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