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Zacks Investment Research Downgrades National General (NGHC) to Hold

National General (NASDAQ:NGHC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday.

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. “

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Other research analysts have also issued reports about the company. ValuEngine raised National General from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. B. Riley upped their price objective on National General from $29.00 to $31.00 and gave the company a “buy” rating in a report on Wednesday, March 21st. Mizuho upped their price objective on National General from $29.00 to $31.00 and gave the company a “buy” rating in a report on Wednesday, March 21st. Morgan Stanley upped their price objective on National General from $23.00 to $25.00 and gave the company an “equal weight” rating in a report on Thursday, March 1st. Finally, BidaskClub raised National General from a “sell” rating to a “hold” rating in a report on Saturday, April 21st. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. National General currently has an average rating of “Buy” and a consensus price target of $27.86.

Shares of NASDAQ NGHC opened at $26.18 on Thursday. National General has a one year low of $26.00 and a one year high of $26.34. The firm has a market capitalization of $2.78 billion, a price-to-earnings ratio of 24.02 and a beta of 0.93.

National General (NASDAQ:NGHC) last issued its quarterly earnings data on Monday, May 7th. The insurance provider reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.10. National General had a return on equity of 8.80% and a net margin of 2.23%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period in the prior year, the firm posted $0.33 EPS. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. equities research analysts predict that National General will post 2.24 earnings per share for the current year.

In other news, COO Peter A. Rendall sold 6,637 shares of the stock in a transaction on Thursday, March 29th. The stock was sold at an average price of $24.31, for a total transaction of $161,345.47. Following the sale, the chief operating officer now directly owns 17 shares of the company’s stock, valued at approximately $413.27. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Thomas Newgarden sold 5,084 shares of the stock in a transaction on Monday, March 5th. The stock was sold at an average price of $24.26, for a total value of $123,337.84. Following the sale, the executive vice president now directly owns 4,766 shares in the company, valued at $115,623.16. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Park West Asset Management LLC grew its holdings in shares of National General by 5.0% during 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 purchasing an additional 220,883 shares in the last quarter. BlackRock Inc. lifted its position in shares of National General by 0.4% during 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. Wells Fargo & Company MN lifted its position in shares of National General by 4.0% during the 4th quarter. Wells Fargo & Company MN now owns 2,684,237 shares of the insurance provider’s stock worth $52,719,000 after buying an additional 102,714 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of National General by 10.7% during 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. Finally, Boston Partners lifted its position in shares of National General by 4.5% during 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. 46.89% of the stock is currently owned by 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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Analyst Recommendations for National General (NASDAQ:NGHC)