Judith L. Haddad Acquires 2,500 Shares of Patriot National Inc. (PN) Stock
Patriot National Inc. (NYSE:PN) insider Judith L. Haddad bought 2,500 shares of the stock in a transaction on Monday, November 28th. The stock was acquired at an average price of $6.64 per share, with a total value of $16,600.00. Following the completion of the acquisition, the insider now owns 80,000 shares of the company’s stock, valued at approximately $531,200. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Shares of Patriot National Inc. (NYSE:PN) opened at 6.51 on Wednesday. The company has a market cap of $172.43 million, a P/E ratio of 13.59 and a beta of 2.77. The stock’s 50 day moving average price is $6.98 and its 200 day moving average price is $8.06. Patriot National Inc. has a 12-month low of $3.56 and a 12-month high of $14.78.
Patriot National (NYSE:PN) last posted its quarterly earnings data on Monday, November 14th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by $0.15. Patriot National had a return on equity of 13.44% and a net margin of 5.81%. The firm earned $60.20 million during the quarter, compared to analysts’ expectations of $70.19 million. The company’s quarterly revenue was up 2.9% on a year-over-year basis. On average, analysts forecast that Patriot National Inc. will post $0.56 EPS for the current year.
The company also recently disclosed a special dividend, which will be paid on Friday, December 9th. Stockholders of record on Monday, November 28th will be issued a $2.50 dividend. The ex-dividend date of this dividend is Monday, December 12th.
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A number of equities research analysts have weighed in on PN shares. Compass Point upgraded Patriot National from a “neutral” rating to a “buy” rating and set a $10.00 target price for the company in a report on Wednesday, November 9th. Zacks Investment Research downgraded Patriot National from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $10.00.
Institutional investors have recently bought and sold shares of the company. K2 Principal Fund L.P. bought a new stake in shares of Patriot National during the third quarter valued at $546,000. OMERS ADMINISTRATION Corp boosted its stake in shares of Patriot National by 17.2% in the third quarter. OMERS ADMINISTRATION Corp now owns 47,800 shares of the company’s stock valued at $431,000 after buying an additional 7,000 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Patriot National by 3.1% in the third quarter. Northern Trust Corp now owns 116,858 shares of the company’s stock valued at $1,053,000 after buying an additional 3,482 shares in the last quarter. Ameriprise Financial Inc. bought a new stake in shares of Patriot National during the third quarter valued at $1,075,000. Finally, BlackRock Investment Management LLC boosted its stake in shares of Patriot National by 21.3% in the third quarter. BlackRock Investment Management LLC now owns 45,610 shares of the company’s stock valued at $411,000 after buying an additional 8,017 shares in the last quarter. Hedge funds and other institutional investors own 25.53% of the company’s stock.
Patriot National Company Profile
Patriot National, Inc is an independent national provider of technology-enabled outsourcing solutions that help insurance carriers, employers and other clients mitigate risk and comply with complex regulations. It offers a range of end-to-end insurance related and specialty services. The Company principally offers approximately two types of services: front-end services, such as brokerage, underwriting and policyholder services, and back-end services, such as claims adjudication and administration.
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