State Board of Administration of Florida Retirement System Acquires New Stake in Federated National Holding Co Common Stock (FNHC)

State Board of Administration of Florida Retirement System acquired a new stake in shares of Federated National Holding Co Common Stock (NASDAQ:FNHC) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 13,584 shares of the insurance provider’s stock, valued at approximately $313,000. State Board of Administration of Florida Retirement System owned about 0.10% of Federated National Holding Co Common Stock at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of FNHC. California Public Employees Retirement System grew its position in Federated National Holding Co Common Stock by 10.7% in the first quarter. California Public Employees Retirement System now owns 51,600 shares of the insurance provider’s stock valued at $814,000 after acquiring an additional 5,000 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in Federated National Holding Co Common Stock in the second quarter valued at approximately $210,000. Royal Bank of Canada grew its position in Federated National Holding Co Common Stock by 21.1% in the first quarter. Royal Bank of Canada now owns 68,908 shares of the insurance provider’s stock valued at $1,086,000 after acquiring an additional 12,001 shares in the last quarter. Engineers Gate Manager LP purchased a new position in shares of Federated National Holding Co Common Stock during the 2nd quarter valued at approximately $278,000. Finally, Shaker Investments LLC OH purchased a new position in shares of Federated National Holding Co Common Stock during the 2nd quarter valued at approximately $300,000. 59.99% of the stock is owned by institutional investors.

In related news, Director Richard W. Wilcox, Jr. sold 7,500 shares of the stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $25.35, for a total value of $190,125.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 10.78% of the company’s stock.

FNHC has been the subject of several research analyst reports. BidaskClub upgraded Federated National Holding Co Common Stock from a “hold” rating to a “buy” rating in a research note on Tuesday, August 14th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $27.00 target price on shares of Federated National Holding Co Common Stock in a research note on Wednesday, August 8th. Finally, Zacks Investment Research cut Federated National Holding Co Common Stock from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 16th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $25.00.

FNHC stock opened at $24.44 on Friday. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $310.79 million, a price-to-earnings ratio of 17.56 and a beta of 1.13. Federated National Holding Co Common Stock has a 1 year low of $12.84 and a 1 year high of $26.76.

Federated National Holding Co Common Stock (NASDAQ:FNHC) last posted its earnings results on Monday, August 6th. The insurance provider reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.19. The company had revenue of $95.53 million for the quarter, compared to analysts’ expectations of $89.55 million. Federated National Holding Co Common Stock had a return on equity of 8.13% and a net margin of 4.42%. analysts predict that Federated National Holding Co Common Stock will post 2.25 EPS for the current year.

About Federated National Holding Co Common Stock

FedNat Holding Company, through its subsidiaries, engages in insurance underwriting, distribution, and claims processing business in the United States. The company underwrites homeowner's multi-peril, personal automobile, commercial general liability, federal flood, and other lines of insurance.

See Also: Market Capitalization

Institutional Ownership by Quarter for Federated National Holding Co Common Stock (NASDAQ:FNHC)

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