National General (NGHC) Downgraded by BidaskClub to “Strong Sell”

National General (NASDAQ:NGHC) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Wednesday, September 12th.

Several other brokerages have also recently issued reports on NGHC. ValuEngine cut National General from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Morgan Stanley increased 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. Keefe, Bruyette & Woods cut National General from an “outperform” rating to a “market perform” rating and set a $27.00 price objective on the stock. in a research note on Monday, June 4th. JMP Securities increased their price objective on National General from $30.00 to $32.00 and gave the company a “market outperform” rating in a research note on Monday, June 11th. Finally, Zacks Investment Research cut National General from a “buy” rating to a “hold” rating in a research note on Wednesday, July 18th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. National General has an average rating of “Hold” and an average target price of $30.00.

Shares of NASDAQ NGHC traded down $0.42 during mid-day trading on Wednesday, hitting $25.99. The company had a trading volume of 159,786 shares, compared to its average volume of 233,142. The stock has a market cap of $2.87 billion, a P/E ratio of 23.84 and a beta of 0.93. National General has a 1-year low of $18.22 and a 1-year high of $28.25.

National General (NASDAQ:NGHC) last announced its quarterly earnings data on Monday, August 6th. The insurance provider reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.01. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.10 billion. National General had a return on equity of 12.35% and a net margin of 3.36%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the firm earned $0.11 earnings per share. As a group, sell-side analysts expect that National General will post 2.27 earnings per share for the current fiscal year.

In related news, COO Peter A. Rendall sold 6,195 shares of the stock in a transaction on Monday, August 13th. The stock was sold at an average price of $27.75, for a total value of $171,911.25. Following the transaction, the chief operating officer now owns 17 shares of the company’s stock, valued at $471.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.40% of the company’s stock.

A number of large investors have recently bought and sold shares of NGHC. Principal Financial Group Inc. purchased a new position in shares of National General during the first quarter worth about $214,000. Sei Investments Co. grew its holdings in shares of 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 during the last quarter. Meeder Asset Management Inc. purchased a new position in shares of National General during the second quarter worth about $102,000. Prudential Financial Inc. grew its holdings in shares of National General by 15.2% during the first quarter. Prudential Financial Inc. now owns 653,496 shares of the insurance provider’s stock worth $15,887,000 after purchasing an additional 86,063 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of National General by 26.9% during the second quarter. Rhumbline Advisers now owns 60,364 shares of the insurance provider’s stock worth $1,589,000 after purchasing an additional 12,785 shares during the last quarter. 48.41% of the stock is currently owned by hedge funds and other institutional investors.

About National General

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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