Federated National Holding Co. (NASDAQ:FNHC) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Friday.

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. “

Separately, Keefe, Bruyette & Woods dropped their price objective on shares of Federated National Holding from $29.00 to $28.00 and set an “outperform” rating on the stock in a research note on Monday, August 8th.

Federated National Holding (NASDAQ:FNHC) traded down 0.71% during midday trading on Friday, hitting $18.19. 46,751 shares of the stock traded hands. The company has a market cap of $250.73 million, a P/E ratio of 8.38 and a beta of 1.39. Federated National Holding has a one year low of $15.99 and a one year high of $32.61. The company’s 50 day moving average is $18.01 and its 200-day moving average is $19.54.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Tuesday, November 1st will be issued a $0.08 dividend. This is an increase from Federated National Holding’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Friday, October 28th. This represents a $0.32 annualized dividend and a dividend yield of 1.76%. Federated National Holding’s payout ratio is presently 11.06%.

In other news, CFO Peter J. Prygelski sold 27,950 shares of Federated National Holding stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $18.75, for a total value of $524,062.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 10.59% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of the stock. BlackRock Group LTD increased its stake in Federated National Holding by 74.0% in the second quarter. BlackRock Group LTD now owns 6,084 shares of the company’s stock worth $116,000 after buying an additional 2,587 shares in the last quarter. Sei Investments Co. bought a new stake in Federated National Holding during the second quarter worth approximately $207,000. Dynamic Technology Lab Private Ltd bought a new stake in Federated National Holding during the second quarter worth approximately $272,000. Citadel Advisors LLC bought a new stake in Federated National Holding during the second quarter worth approximately $307,000. Finally, TFS Capital LLC bought a new stake in Federated National Holding during the second quarter worth approximately $336,000. 62.80% of the stock is currently owned by institutional investors and hedge funds.

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.

5 Day Chart for NASDAQ:FNHC

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