SG Americas Securities LLC lifted its stake in National General Holdings Corp (NASDAQ:NGHC) by 64.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,372 shares of the insurance provider’s stock after acquiring an additional 15,470 shares during the period. SG Americas Securities LLC’s holdings in National General were worth $851,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in the stock. Advisor Group Inc. raised its holdings in shares of National General by 190.9% during 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 during the period. Pearl River Capital LLC bought a new stake in National General in the first quarter worth approximately $41,000. WASHINGTON TRUST Co bought a new stake in National General in the first quarter worth approximately $50,000. KBC Group NV bought a new stake in National General in the first quarter worth approximately $97,000. Finally, Advisor Group Holdings Inc. bought a new stake in National General in the first quarter worth approximately $99,000. 52.66% of the stock is owned by institutional investors and hedge funds.
Shares of NGHC stock opened at $33.99 on Friday. The company has a market capitalization of $3.87 billion, a P/E ratio of 12.18 and a beta of 0.86. The company’s 50 day moving average price is $26.79 and its two-hundred day moving average price is $21.05. National General Holdings Corp has a 52 week low of $11.82 and a 52 week high of $34.48.
National General (NASDAQ:NGHC) last announced its earnings results on Friday, July 31st. The insurance provider reported $1.36 EPS for the quarter, topping the consensus estimate of $0.81 by $0.55. The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.36 billion. National General had a net margin of 6.60% and a return on equity of 16.97%. The business’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period last year, the company posted $0.67 EPS. On average, sell-side analysts forecast that National General Holdings Corp will post 3.22 earnings per share for the current year.
A number of analysts have weighed in on NGHC shares. ValuEngine downgraded shares of National General from a “sell” rating to a “strong sell” rating in a report on Friday, May 1st. TheStreet upgraded shares of National General from a “c” rating to a “b-” rating in a research note on Tuesday, June 16th. B. Riley increased their target price on shares of National General from $28.00 to $34.50 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. JMP Securities cut shares of National General from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 9th. Finally, William Blair cut shares of National General from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 8th. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $32.83.
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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