National General (NASDAQ:NGHC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The brokerage currently has a $30.00 price objective on the insurance provider’s stock. Zacks Investment Research‘s target price indicates a potential upside of 18.16% from the stock’s previous close.
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. “
A number of other research analysts also recently issued reports on NGHC. Morgan Stanley upped their price objective on National General from $27.00 to $29.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 14th. BidaskClub downgraded National General from a “hold” rating to a “sell” rating in a research note on Wednesday, August 29th. Finally, ValuEngine upgraded National General from a “hold” rating to a “buy” rating in a research note on Thursday, November 1st. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $30.17.
National General (NASDAQ:NGHC) last released its quarterly earnings results on Tuesday, October 30th. The insurance provider reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.25. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.11 billion. National General had a return on equity of 15.64% and a net margin of 3.63%. National General’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.26 EPS. As a group, equities analysts anticipate that National General will post 2.18 earnings per share for the current fiscal year.
A number of large investors have recently made changes to their positions in the business. Principal Financial Group Inc. purchased a new position in National General during the first quarter worth about $214,000. Bank of Montreal Can purchased a new position in National General during the second quarter worth about $1,980,000. Wells Fargo & Company MN raised its holdings in National General by 27.4% during the second quarter. Wells Fargo & Company MN now owns 3,390,890 shares of the insurance provider’s stock worth $89,281,000 after purchasing an additional 728,985 shares in the last quarter. IndexIQ Advisors LLC raised its holdings in National General by 9.2% during the second quarter. IndexIQ Advisors LLC now owns 89,979 shares of the insurance provider’s stock worth $2,369,000 after purchasing an additional 7,549 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in National General by 6.1% during the second quarter. Sei Investments Co. now owns 48,237 shares of the insurance provider’s stock worth $1,270,000 after purchasing an additional 2,754 shares in the last quarter. Hedge funds and other institutional investors own 48.33% of the company’s stock.
National General Company Profile
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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