Federated National Holding Co. (FNHC) Forecasted to Earn FY2016 Earnings of $1.11 Per Share
Federated National Holding Co. (NASDAQ:FNHC) – Stock analysts at Langen Mcalenn dropped their FY2016 EPS estimates for shares of Federated National Holding in a note issued to investors on Tuesday. Langen Mcalenn analyst R. Byrnes now anticipates that the firm will post earnings per share of $1.11 for the year, down from their prior estimate of $1.30.
A number of other research firms also recently commented on FNHC. Keefe, Bruyette & Woods dropped their price objective on Federated National Holding from $29.00 to $28.00 and set an “outperform” rating for the company in a report on Monday, August 8th. Zacks Investment Research upgraded Federated National Holding from a “strong sell” rating to a “hold” rating in a report on Monday, July 11th.
Shares of Federated National Holding (NASDAQ:FNHC) opened at 18.19 on Friday. Federated National Holding has a 52-week low of $15.99 and a 52-week high of $32.61. The stock’s 50 day moving average price is $18.02 and its 200-day moving average price is $19.53. The firm has a market cap of $250.73 million, a PE ratio of 8.38 and a beta of 1.39.
A number of hedge funds have recently made changes to their positions in FNHC. Rothschild Asset Management Inc. purchased a new position in Federated National Holding during the second quarter worth $3,208,000. Boston Advisors LLC purchased a new position in Federated National Holding during the second quarter worth $2,360,000. Bogle Investment Management L P DE purchased a new position in Federated National Holding during the first quarter worth $640,000. Renaissance Technologies LLC boosted its position in Federated National Holding by 3.8% in the first quarter. Renaissance Technologies LLC now owns 660,800 shares of the company’s stock worth $12,991,000 after buying an additional 24,200 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in Federated National Holding by 17.5% in the second quarter. AQR Capital Management LLC now owns 142,208 shares of the company’s stock worth $2,708,000 after buying an additional 21,189 shares during the last quarter. Hedge funds and other institutional investors own 62.80% of the company’s stock.
In related news, CFO Peter J. Prygelski sold 27,950 shares of the stock in a transaction on Monday, August 8th. The stock was 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 Securities & Exchange Commission, which is available through this link. 10.59% of the stock is owned by corporate insiders.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors 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. This represents a $0.32 annualized dividend and a yield of 1.76%. The ex-dividend date is Friday, October 28th. Federated National Holding’s dividend payout ratio is currently 11.06%.
About Federated National Holding
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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