Corsair Capital Management Lowers stake in National General Holdings Corp (NGHC)

National General Holdings Corp (NGHC) : Corsair Capital Management reduced its stake in National General Holdings Corp by 27.61% during the most recent quarter end. The investment management company now holds a total of 174,392 shares of National General Holdings Corp which is valued at $3,894,173 after selling 66,527 shares in National General Holdings Corp , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.National General Holdings Corp makes up approximately 0.58% of Corsair Capital Management’s portfolio.

Other Hedge Funds, Including , Blair William Coil reduced its stake in NGHC by selling 100 shares or 0.92% in the most recent quarter. The Hedge Fund company now holds 10,800 shares of NGHC which is valued at $241,164. First Trust Advisors Lp added NGHC to its portfolio by purchasing 137,017 company shares during the most recent quarter which is valued at $2,992,451. National General Holdings Corp makes up approx 0.01% of First Trust Advisors Lp’s portfolio.California State Teachers Retirement System boosted its stake in NGHC in the latest quarter, The investment management firm added 16,549 additional shares and now holds a total of 101,538 shares of National General Holdings Corp which is valued at $2,175,959. Huntington National Bank added NGHC to its portfolio by purchasing 885 company shares during the most recent quarter which is valued at $18,470.Eagle Asset Management Inc reduced its stake in NGHC by selling 28,070 shares or 8.63% in the most recent quarter. The Hedge Fund company now holds 297,201 shares of NGHC which is valued at $6,377,933. National General Holdings Corp makes up approx 0.04% of Eagle Asset Management Inc’s portfolio.

National General Holdings Corp opened for trading at $22.24 and hit $22.44 on the upside on Monday, eventually ending the session at $22.39, with a gain of 0.45% or 0.1 points. The heightened volatility saw the trading volume jump to 1,03,047 shares. Company has a market cap of $2,372 M.

On the company’s financial health, National General Holdings Corp reported $0.50 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on May 2, 2016. Analyst had a consensus of $0.40. The company had revenue of $776.00 million for the quarter, 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.

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.

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