Peregrine Capital Management LLC purchased a new stake in National General Holdings Corp (NASDAQ:NGHC) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 211,581 shares of the insurance provider’s stock, valued at approximately $4,572,000.
Other hedge funds have also added to or reduced their stakes in the company. Advisor Group Inc. grew its stake in shares of National General by 190.9% in the fourth quarter. Advisor Group Inc. now owns 1,312 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 861 shares in the last quarter. Pearl River Capital LLC acquired a new stake in National General during the first quarter worth about $41,000. WASHINGTON TRUST Co acquired a new stake in National General during the first quarter worth about $50,000. KBC Group NV acquired a new stake in National General during the first quarter worth about $97,000. Finally, Advisor Group Holdings Inc. acquired a new stake in National General during the first quarter worth about $99,000. Institutional investors and hedge funds own 52.66% of the company’s stock.
A number of equities research analysts have issued reports on NGHC shares. TheStreet upgraded shares of National General from a “c” rating to a “b-” rating in a research note on Tuesday, June 16th. William Blair downgraded shares of National General from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 8th. BidaskClub upgraded shares of National General from a “sell” rating to a “hold” rating in a research note on Tuesday, May 19th. B. Riley increased their price objective on shares of National General from $28.00 to $34.50 and gave the stock a “neutral” rating in a research note on Wednesday, July 8th. Finally, JPMorgan Chase & Co. initiated coverage on shares of National General in a research note on Sunday, April 19th. They set a “neutral” rating and a $26.00 price objective on the stock. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $32.83.
NGHC opened at $33.99 on Friday. The company’s 50 day moving average is $26.79 and its 200-day moving average is $21.05. National General Holdings Corp has a 1-year low of $11.82 and a 1-year high of $34.48. The company has a market cap of $3.87 billion, a P/E ratio of 12.18 and a beta of 0.86.
National General (NASDAQ:NGHC) last posted its quarterly earnings results on Friday, July 31st. The insurance provider reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.55. National General had a net margin of 6.60% and a return on equity of 16.97%. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same period last year, the company posted $0.67 EPS. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. On average, equities analysts predict that National General Holdings Corp will post 3.22 earnings per share for the current fiscal year.
National General Profile
National General Holdings Corp., a specialty personal lines insurance holding company, provides various insurance products and services in the United States, Bermuda, Luxembourg, and Sweden. The company's 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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