Federated National Holding Co (FNHC) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Federated National Holding Co (NASDAQ:FNHC) from a hold rating to a strong sell rating in a research note released on Tuesday morning.

According to Zacks, “Federated National Holding Company is an insurance holding company, which through its subsidiaries, controls all aspects of the insurance underwriting, distribution and claims processes. The Company underwrites homeowners’ property and casualty, commercial general liability, commercial residential property, flood, personal automobile and commercial automobile. It is also licensed to and has the facilities to market and underwrite policies for other insurance carriers’ lines of business such as, inland marine, workers’ compensation and personal umbrella insurance. Federated National Holding Company, formerly known as 21st Century Holding Company, is based in Sunrise, Florida. “

Federated National Holding (NASDAQ:FNHC) traded up 0.431% during mid-day trading on Tuesday, reaching $17.485. 10,845 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $19.38 and its 200 day moving average price is $18.42. The firm’s market cap is $235.56 million. Federated National Holding has a one year low of $14.03 and a one year high of $22.93.

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Hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its stake in shares of Federated National Holding by 3.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 825,137 shares of the company’s stock valued at $15,422,000 after buying an additional 28,226 shares during the last quarter. State Street Corp increased its stake in shares of Federated National Holding by 1.5% in the fourth quarter. State Street Corp now owns 204,996 shares of the company’s stock valued at $3,830,000 after buying an additional 3,096 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Federated National Holding during the fourth quarter valued at approximately $630,000. SECOR Capital Advisors LP increased its stake in shares of Federated National Holding by 24.0% in the third quarter. SECOR Capital Advisors LP now owns 39,584 shares of the company’s stock valued at $740,000 after buying an additional 7,671 shares during the last quarter. Finally, Citadel Advisors LLC increased its stake in shares of Federated National Holding by 24.2% in the third quarter. Citadel Advisors LLC now owns 20,016 shares of the company’s stock valued at $374,000 after buying an additional 3,894 shares during the last quarter. Hedge funds and other institutional investors own 62.96% of the company’s stock.

Federated National Holding Company Profile

Federated National Holding Company (FNHC) is an insurance holding company that controls all steps in the insurance underwriting, distribution and claims processes through its subsidiaries and its contractual relationships with its independent agents and general agents. The Company is authorized to underwrite homeowners’ multi-peril (homeowners), commercial general liability, federal flood, personal auto and various other lines of insurance in Florida and various other states.

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