LSV Asset Management lowered its position in Federated National Holding Co (NASDAQ:FNHC) by 14.1% during the first quarter, Holdings Channel reports. The institutional investor owned 37,100 shares of the insurance provider’s stock after selling 6,100 shares during the period. LSV Asset Management’s holdings in Federated National Holding were worth $646,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Citadel Advisors LLC raised its position in shares of Federated National Holding by 24.2% in the third quarter. Citadel Advisors LLC now owns 20,016 shares of the insurance provider’s stock worth $374,000 after buying an additional 3,894 shares in the last quarter. Highbridge Capital Management LLC acquired a new position in shares of Federated National Holding during the fourth quarter worth $422,000. Nationwide Fund Advisors raised its position in shares of Federated National Holding by 188.1% in the first quarter. Nationwide Fund Advisors now owns 31,906 shares of the insurance provider’s stock worth $556,000 after buying an additional 20,831 shares in the last quarter. Martingale Asset Management L P acquired a new position in shares of Federated National Holding during the fourth quarter worth $567,000. Finally, Russell Investments Group Ltd. acquired a new position in shares of Federated National Holding during the fourth quarter worth $630,000. 62.96% of the stock is currently owned by hedge funds and other institutional investors.
Federated National Holding Co (NASDAQ:FNHC) opened at 15.82 on Thursday. Federated National Holding Co has a one year low of $14.03 and a one year high of $22.83. The company’s 50-day moving average price is $15.74 and its 200-day moving average price is $17.82. The firm’s market cap is $218.92 million.
Federated National Holding (NASDAQ:FNHC) last issued its earnings results on Tuesday, May 9th. The insurance provider reported $0.23 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.30 by $0.07. The company had revenue of $93.03 million during the quarter, compared to analyst estimates of $92.91 million. Federated National Holding had a return on equity of 8.14% and a net margin of 7.27%. On average, analysts anticipate that Federated National Holding Co will post $1.58 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 1st. Stockholders of record on Monday, May 1st will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, April 27th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.02%. Federated National Holding’s dividend payout ratio is 21.19%.
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FNHC has been the topic of a number of recent analyst reports. TheStreet lowered Federated National Holding from a “b” rating to a “c+” rating in a report on Friday, March 10th. Zacks Investment Research lowered Federated National Holding from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $28.00.
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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