Zacks Investment Research upgraded shares of Federated National (NASDAQ:FNHC) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning, Zacks.com reports. The brokerage currently has $16.00 price objective on the insurance provider’s stock.
According to Zacks, “FedNat Holding Company operates as a holding company. It provides insurance underwriting, distribution, claims processing and premium financing services through its subsidiaries. The company underwrites non-standard and standard personal automobile insurance and mobile home property and casualty insurance. FedNat Holding Company, formerly known as Federated National Holding Company, is based in Florida, United States. “
Separately, ValuEngine raised shares of Federated National from a hold rating to a buy rating in a research note on Wednesday, October 2nd.
Shares of FNHC stock traded up $0.05 during mid-day trading on Wednesday, hitting $13.87. 2,838 shares of the stock were exchanged, compared to its average volume of 55,527. The firm has a fifty day moving average of $13.33 and a 200 day moving average of $14.16. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.43. Federated National has a 52-week low of $11.18 and a 52-week high of $23.92. The company has a market cap of $184.99 million, a PE ratio of 9.89 and a beta of 0.74.
Federated National (NASDAQ:FNHC) last posted its earnings results on Tuesday, August 6th. The insurance provider reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.06. Federated National had a net margin of 0.46% and a return on equity of 2.58%. The business had revenue of $103.35 million for the quarter, compared to analyst estimates of $99.48 million. Equities analysts predict that Federated National will post 1.4 EPS for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in FNHC. SG Americas Securities LLC acquired a new position in shares of Federated National during the 2nd quarter worth about $114,000. Bailard Inc. acquired a new position in shares of Federated National during the 2nd quarter worth about $158,000. Bessemer Group Inc. acquired a new position in shares of Federated National during the 2nd quarter worth about $220,000. Public Employees Retirement System of Ohio raised its position in shares of Federated National by 182.6% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 33,436 shares of the insurance provider’s stock worth $477,000 after purchasing an additional 21,606 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of Federated National by 9.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 55,379 shares of the insurance provider’s stock worth $775,000 after purchasing an additional 4,674 shares during the last quarter. Hedge funds and other institutional investors own 62.85% of the company’s stock.
Federated National Company Profile
FedNat Holding Company, through its subsidiaries, engages in the insurance underwriting, distribution, and claims processing business in the United States. The company is involved in the homeowners, and fire property and casualty insurance; and personal automobile insurance businesses, as well as commercial general liability and federal flood businesses.
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