Principal Financial Group Inc. boosted its position in shares of National General Holdings Corp (NASDAQ:NGHC) by 5,705.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 804,827 shares of the insurance provider’s stock after purchasing an additional 790,964 shares during the period. Principal Financial Group Inc. owned 0.75% of National General worth $19,485,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Parkside Financial Bank & Trust raised its holdings in National General by 37.3% during 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 in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in National General by 2.6% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 60,085 shares of the insurance provider’s stock valued at $1,455,000 after buying an additional 1,542 shares in the last quarter. American International Group Inc. raised its holdings in National General by 4.1% during the fourth quarter. American International Group Inc. now owns 42,562 shares of the insurance provider’s stock valued at $1,030,000 after buying an additional 1,665 shares in the last quarter. Teachers Advisors LLC raised its holdings in National General by 1.7% during the third quarter. Teachers Advisors LLC now owns 120,295 shares of the insurance provider’s stock valued at $3,229,000 after buying an additional 2,043 shares in the last quarter. Finally, United Services Automobile Association raised its holdings in National General by 13.0% during the fourth quarter. United Services Automobile Association now owns 20,158 shares of the insurance provider’s stock valued at $488,000 after buying an additional 2,318 shares in the last quarter. 52.42% of the stock is owned by hedge funds and other institutional investors.
Shares of National General stock traded down $0.05 during trading on Friday, reaching $23.92. The company’s stock had a trading volume of 104,028 shares, compared to its average volume of 183,923. National General Holdings Corp has a one year low of $21.22 and a one year high of $28.89. The firm has a market capitalization of $2.71 billion, a PE ratio of 11.44 and a beta of 0.70.
The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were paid a dividend of $0.04 per share. The ex-dividend date was Friday, March 29th. This represents a $0.16 annualized dividend and a yield of 0.67%. National General’s dividend payout ratio is 7.66%.
Several equities analysts have weighed in on NGHC shares. Zacks Investment Research lowered National General from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 2nd. BidaskClub lowered National General from a “buy” rating to a “hold” rating in a research note on Wednesday, January 9th. Goldman Sachs Group started coverage on National General in a research note on Tuesday, February 19th. They issued a “neutral” rating and a $27.00 price objective on the stock. Finally, JMP Securities reiterated a “buy” rating and issued a $33.00 price objective on shares of National General in a research note 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 stock. National General has a consensus rating of “Hold” and a consensus target price 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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