Today The Cornercap Investment Counsel Inc. Lowers Stake in National General Holdings Corp (NGHC)

Today The Cornercap Investment Counsel Inc. Lowers Stake in National General Holdings Corp (NGHC)

Cornercap Investment Counsel Inc. lowered its stake in National General Holdings Corp (NASDAQ:NGHC) by 4.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,770 shares of the company’s stock after selling 1,215 shares during the period. Cornercap Investment Counsel Inc.’s holdings in National General Holdings Corp were worth $594,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. US Bancorp DE increased its position 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 during the last quarter. State Board of Administration of Florida Retirement System increased its position in National General Holdings Corp by 1.2% in the second quarter. State Board of Administration of Florida Retirement System now owns 10,630 shares of the company’s stock worth $228,000 after buying an additional 130 shares during the last quarter. Advisors Asset Management Inc. increased its position in National General Holdings Corp by 2.7% in the third quarter. Advisors Asset Management Inc. now owns 6,003 shares of the company’s stock worth $134,000 after buying an additional 158 shares during the last quarter. Principal Financial Group Inc. increased its position in National General Holdings Corp by 1.4% in the third quarter. Principal Financial Group Inc. now owns 14,279 shares of the company’s stock worth $318,000 after buying an additional 204 shares during the last quarter. Finally, California State Teachers Retirement System increased its position in National General Holdings Corp by 0.9% in the third quarter. California State Teachers Retirement System now owns 102,438 shares of the company’s stock worth $2,278,000 after buying an additional 900 shares during the last quarter. Institutional investors and hedge funds own 41.86% of the company’s stock.

Shares of National General Holdings Corp (NASDAQ:NGHC) traded down 0.20% during mid-day trading on Wednesday, hitting $24.75. The stock had a trading volume of 46,209 shares. The stock’s 50-day moving average is $24.72 and its 200-day moving average is $22.56. The firm has a market capitalization of $2.63 billion, a PE ratio of 20.47 and a beta of 1.34. National General Holdings Corp has a 1-year low of $18.04 and a 1-year high of $25.40.

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

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 17th. Stockholders of record on Tuesday, January 3rd were paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date was Thursday, December 29th. National General Holdings Corp’s payout ratio is 13.11%.

A number of research analysts have issued reports on NGHC shares. Zacks Investment Research upgraded shares of National General Holdings Corp from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research report on Wednesday, September 28th. Morgan Stanley downgraded shares of National General Holdings Corp from an “overweight” rating to an “equal weight” rating and set a $23.00 target price on the stock. in a research report on Friday, November 18th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $26.00.

In other news, General Counsel Jeffrey Weissmann sold 18,000 shares of National General Holdings Corp stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of $22.78, for a total transaction of $410,040.00. Following the sale, the general counsel now directly owns 34,053 shares of the company’s stock, valued at $775,727.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael Hal Weiner sold 1,810 shares of National General Holdings Corp stock in a transaction dated Friday, December 16th. The shares were sold at an average price of $24.64, for a total value of $44,598.40. Following the sale, the chief financial officer now directly owns 100 shares in the company, valued at $2,464. The disclosure for this sale can be found here. Company insiders own 14.10% of the company’s stock.

About National General Holdings Corp

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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