D. E. Shaw & Co. Inc. reduced its holdings in National General Holdings Corp (NASDAQ:NGHC) by 72.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 11,882 shares of the insurance provider’s stock after selling 31,470 shares during the quarter. D. E. Shaw & Co. Inc.’s holdings in National General were worth $288,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Parkside Financial Bank & Trust lifted its holdings in National General by 37.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,968 shares of the insurance provider’s stock valued at $48,000 after buying an additional 535 shares during the period. New York State Teachers Retirement System acquired a new position in National General in the fourth quarter valued at approximately $131,000. Quantamental Technologies LLC acquired a new position in National General in the fourth quarter valued at approximately $137,000. Ibex Investors LLC acquired a new position in National General in the fourth quarter valued at approximately $220,000. Finally, Stevens Capital Management LP acquired a new position in National General in the fourth quarter valued at approximately $262,000. Institutional investors and hedge funds own 52.42% of the company’s stock.
NASDAQ NGHC opened at $23.74 on Tuesday. The stock has a market cap of $2.72 billion, a PE ratio of 11.36 and a beta of 0.70. National General Holdings Corp has a 52-week low of $21.22 and a 52-week high of $28.89.
The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend was Friday, March 29th. National General’s dividend payout ratio is currently 7.66%.
Several equities analysts recently weighed in on NGHC shares. Zacks Investment Research lowered shares of National General from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 2nd. BidaskClub lowered shares of National General from a “buy” rating to a “hold” rating in a report on Wednesday, January 9th. Goldman Sachs Group assumed coverage on shares of National General in a report on Tuesday, February 19th. They issued a “neutral” rating and a $27.00 target price on the stock. Finally, JMP Securities reiterated a “buy” rating and issued a $33.00 target price on shares of National General in a report on Wednesday, February 27th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $30.57.
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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, 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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