National General Holdings Corp (NGHC) reported quarterly earnings results on Monday, May-2-2016. The company said it had a profit of $0.50 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.10. Analysts had a consensus of $0.40. The company posted revenue of $776.00 million in the period, compared to analysts expectations of $702.95 million. The company’s revenue was up 49.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 EPS.
Many Wall Street Analysts have commented on National General Holdings Corp. Keefe Bruyette Initiated National General Holdings Corp on Feb 26, 2016 to “Outperform”, Price Target of the shares are set at $26.
National General Holdings Corp opened for trading at $22.25 and hit $22.48 on the upside on Wednesday, eventually ending the session at $22.32, with a gain of 0.09% or 0.02 points. The heightened volatility saw the trading volume jump to 72,188 shares. Company has a market cap of $2,356 M.
In a different news, on Mar 18, 2016, Peter A. Rendall (COO and Treasurer) sold 26,359 shares at $20.94 per share price. According to the SEC, on Mar 10, 2016, Thomas Newgarden (Executive Vice President) sold 54,905 shares at $20.19 per share price. On Jul 14, 2015, Byron Storms (President – P&C) sold 16,500 shares at $22.58 per share price, according to the Form-4 filing with the securities and exchange commission.
National General Holdings Corp. is a specialty personal lines insurance holding company. Through its subsidiaries the Company provides a variety of insurance products including personal and commercial automobile supplemental health homeowners and umbrella and other niche products. It operates in two segments: Property and Casualty (P&C) and Accident and Health (A&H). Its P&C insurance segment products protect its customers against losses due to physical damage to motor vehicles bodily injury and liability to others for personal injury or property damage arising out of auto accidents. Its A&H segment provides accident and non-major medical health insurance products targeting its existing P&C policyholders. Approximately 84% of its P&C premium written is originated in 11 core states including New York North Carolina California Michigan New Jersey Florida Connecticut Texas Louisiana Virginia and Massachusetts.