Loading...

We've got a brand new version of Simply Wall St! Try it out

National General Holdings

Nasdaq:NGHC.O
Snowflake Description

Solid track record with excellent balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
NGHC.O
Nasdaq
$2B
Market Cap
  1. Home
  2. US
  3. Insurance
Company description

National General Holdings Corp., a specialty personal lines insurance holding company, provides various insurance products and services in the United States, Bermuda, Luxembourg, and Sweden. The last earnings update was 16 days ago. More info.


Add to Portfolio Compare Print
NGHC.O Share Price and Events
7 Day Returns
0.5%
NasdaqGM:NGHC.O
0.5%
US Insurance
0.4%
US Market
1 Year Returns
5.6%
NasdaqGM:NGHC.O
15.8%
US Insurance
13.1%
US Market
NGHC.O Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
National General Holdings (NGHC.O) 0.5% 0.4% 0.2% 5.6% 0.8% -
US Insurance 0.5% 1.4% 3.2% 15.8% 27.9% 46.3%
US Market 0.4% 4% 7.4% 13.1% 38.6% 44.6%
1 Year Return vs Industry and Market
  • NGHC.O underperformed the Insurance industry which returned 15.8% over the past year.
  • NGHC.O underperformed the Market in United States of America which returned 13.1% over the past year.
Price Volatility
NGHC.O
Industry
5yr Volatility vs Market

Value

 Is National General Holdings undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of National General Holdings to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for National General Holdings.

NasdaqGM:NGHC.O Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $21.68 * 8.5%
$1.83
Book Value of Equity per Share Weighted future Book Value estimates from 3 analysts. $21.68
Discount Rate (Cost of Equity) See below 8.1%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGM:NGHC.O
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Insurance Unlevered Beta Simply Wall St/ S&P Global 0.67
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.665 (1 + (1- 21%) (33.24%))
0.893
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.89
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.893 * 5.96%)
8.05%

Discounted Cash Flow Calculation for NasdaqGM:NGHC.O using Excess Returns Model Model

The calculations below outline how an intrinsic value for National General Holdings is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NasdaqGM:NGHC.O Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (8.5% – 8.05%) * $21.68)
$0.09
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $0.09 / (8.05% - 2.73%)
$1.64
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $21.68 + $1.64
$23.32
NasdaqGM:NGHC.O Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in NasdaqGM:NGHC.O represents 1.17221x of NasdaqGM:NGHC
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.17221x
Value per Share
(Listing Adjusted, USD)
= Value per Share (USD) x Listing Adjustment Factor
= $ 23.32 x 1.17221
$27.34
Value per share (USD) From above. $27.34
Current discount Discount to share price of $25.05
= -1 x ($25.05 - $27.34) / $27.34
8.4%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price National General Holdings is available for.
Intrinsic value
8%
Share price is $25.05 vs Future cash flow value of $27.34
Current Discount Checks
For National General Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • National General Holdings's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • National General Holdings's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for National General Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are National General Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGM:NGHC.O PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in USD $2.08
NasdaqGM:NGHC Share Price ** NasdaqGM (2019-11-14) in USD $21.37
United States of America Insurance Industry PE Ratio Median Figure of 88 Publicly-Listed Insurance Companies 17.08x
United States of America Market PE Ratio Median Figure of 2,917 Publicly-Listed Companies 18.19x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of National General Holdings.

NasdaqGM:NGHC.O PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGM:NGHC Share Price ÷ EPS (both in USD)

= 21.37 ÷ 2.08

10.28x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • National General Holdings is good value based on earnings compared to the US Insurance industry average.
  • National General Holdings is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does National General Holdings's expected growth come at a high price?
Raw Data
NasdaqGM:NGHC.O PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 10.28x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
11.3%per year
United States of America Insurance Industry PEG Ratio Median Figure of 64 Publicly-Listed Insurance Companies 0.92x
United States of America Market PEG Ratio Median Figure of 2,028 Publicly-Listed Companies 1.46x

*Line of best fit is calculated by linear regression .

NasdaqGM:NGHC.O PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 10.28x ÷ 11.3%

0.91x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • National General Holdings is good value based on expected growth next year.
Price based on value of assets
What value do investors place on National General Holdings's assets?
Raw Data
NasdaqGM:NGHC.O PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in USD $18.62
NasdaqGM:NGHC Share Price * NasdaqGM (2019-11-14) in USD $21.37
United States of America Insurance Industry PB Ratio Median Figure of 116 Publicly-Listed Insurance Companies 1.16x
United States of America Market PB Ratio Median Figure of 5,070 Publicly-Listed Companies 1.73x
NasdaqGM:NGHC.O PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGM:NGHC Share Price ÷ Book Value per Share (both in USD)

= 21.37 ÷ 18.62

1.15x

* Primary Listing of National General Holdings.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • National General Holdings is good value based on assets compared to the US Insurance industry average.
X
Value checks
We assess National General Holdings's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Insurance industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Insurance industry average (and greater than 0)? (1 check)
  5. National General Holdings has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is National General Holdings expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
11.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is National General Holdings expected to grow at an attractive rate?
  • National General Holdings's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • National General Holdings's earnings growth is positive but not above the United States of America market average.
  • National General Holdings's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGM:NGHC.O Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGM:NGHC.O Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts 11.3%
NasdaqGM:NGHC.O Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 9.2%
United States of America Insurance Industry Earnings Growth Rate Market Cap Weighted Average 6%
United States of America Insurance Industry Revenue Growth Rate Market Cap Weighted Average 3.2%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGM:NGHC.O Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGM:NGHC.O Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 6,326 337 2
2020-12-31 5,779 315 3
2019-12-31 5,351 285 3
2019-11-15
NasdaqGM:NGHC.O Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-09-30 4,995 648 233
2019-06-30 4,858 729 231
2019-03-31 4,723 661 198
2018-12-31 4,608 598 175
2018-09-30 4,488 487 148
2018-06-30 4,429 281 137
2018-03-31 4,447 231 106
2017-12-31 4,422 317 74
2017-09-30 4,366 294 119
2017-06-30 4,153 363 89
2017-03-31 3,846 427 128
2016-12-31 3,545 318 151

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • National General Holdings's earnings are expected to grow by 11.3% yearly, however this is not considered high growth (20% yearly).
  • National General Holdings's revenue is expected to grow by 9.2% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGM:NGHC.O Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from National General Holdings Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGM:NGHC.O Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 2.85 2.85 2.85 1.00
2020-12-31 2.71 2.71 2.71 1.00
2019-12-31 2.48 2.48 2.48 1.00
2019-11-15
NasdaqGM:NGHC.O Past Financials Data
Date (Data in USD Millions) EPS *
2019-09-30 2.08
2019-06-30 2.08
2019-03-31 1.82
2018-12-31 1.62
2018-09-30 1.38
2018-06-30 1.28
2018-03-31 0.99
2017-12-31 0.70
2017-09-30 1.11
2017-06-30 0.84
2017-03-31 1.20
2016-12-31 1.43

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • National General Holdings is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess National General Holdings's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
National General Holdings has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has National General Holdings performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare National General Holdings's growth in the last year to its industry (Insurance).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • National General Holdings's year on year earnings growth rate has been positive over the past 5 years.
  • National General Holdings's 1-year earnings growth exceeds its 5-year average (58.2% vs 12.7%)
  • National General Holdings's earnings growth has exceeded the US Insurance industry average in the past year (58.2% vs -9.5%).
Earnings and Revenue History
National General Holdings's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from National General Holdings Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGM:NGHC.O Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 4,995.11 233.46 1,006.33
2019-06-30 4,857.93 230.69 978.20
2019-03-31 4,723.38 198.41 954.86
2018-12-31 4,607.97 174.86 937.77
2018-09-30 4,487.95 147.58 918.34
2018-06-30 4,428.79 136.85 896.74
2018-03-31 4,447.48 105.63 883.80
2017-12-31 4,422.27 74.35 907.98
2017-09-30 4,366.17 118.68 814.88
2017-06-30 4,152.95 88.83 799.49
2017-03-31 3,846.22 127.72 779.12
2016-12-31 3,544.68 151.37 700.56
2016-09-30 3,329.11 130.69 735.37
2016-06-30 3,022.69 149.75 655.21
2016-03-31 2,732.19 139.19 583.25
2015-12-31 2,511.90 123.06 408.94
2015-09-30 2,213.51 125.68 433.01
2015-06-30 2,121.49 118.75 404.56
2015-03-31 2,007.92 115.30 362.46
2014-12-31 1,862.33 99.95 332.16
2014-09-30 1,619.17 96.73 313.04
2014-06-30 1,354.17 77.41 297.14
2014-03-31 1,128.46 60.13 288.50
2013-12-31 932.14 40.15 279.11
2013-09-30 870.13 31.61 271.87
2013-06-30 832.74 27.18 262.58
2013-03-31 804.32 26.10 257.98
2012-12-31 804.93 28.03 241.96

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • National General Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • National General Holdings used its assets more efficiently than the US Insurance industry average last year based on Return on Assets.
  • National General Holdings has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess National General Holdings's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Insurance industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
National General Holdings has a total score of 5/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is National General Holdings's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up National General Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • National General Holdings's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • National General Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of National General Holdings's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 6.6x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from National General Holdings Company Filings, last reported 1 month ago.

NasdaqGM:NGHC.O Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 2,531.62 666.98 593.08
2019-06-30 2,460.87 688.27 414.10
2019-03-31 2,331.48 689.63 578.12
2018-12-31 2,200.87 675.45 542.41
2018-09-30 2,042.98 675.26 572.52
2018-06-30 1,981.28 705.08 480.71
2018-03-31 1,964.65 713.89 361.91
2017-12-31 1,953.43 713.71 330.55
2017-09-30 1,982.46 754.92 430.50
2017-06-30 1,962.97 754.74 416.56
2017-03-31 1,959.58 745.96 399.05
2016-12-31 1,917.36 752.00 322.58
2016-09-30 1,947.77 675.51 420.22
2016-06-30 1,707.57 798.19 324.40
2016-03-31 1,606.10 560.44 277.19
2015-12-31 1,536.64 601.99 229.46
2015-09-30 1,530.56 442.93 287.93
2015-06-30 1,297.14 364.04 177.37
2015-03-31 1,274.13 305.42 250.93
2014-12-31 1,073.45 375.15 143.16
2014-09-30 1,087.91 395.58 121.04
2014-06-30 954.13 319.21 112.78
2014-03-31 855.59 146.87 108.35
2013-12-31 642.87 221.03 73.82
2013-09-30 635.01 109.27 41.57
2013-06-30 622.80 114.06 105.13
2013-03-31 432.50 124.75 99.31
2012-12-31 413.04 196.37 57.07
  • National General Holdings's level of debt (26.3%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (36.3% vs 26.3% today).
  • Debt is well covered by operating cash flow (97.1%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 7.1x coverage).
X
Financial health checks
We assess National General Holdings's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. National General Holdings has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is National General Holdings's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0.94%
Current annual income from National General Holdings dividends. Estimated to be 0.97% next year.
If you bought $2,000 of National General Holdings shares you are expected to receive $19 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • National General Holdings's pays a lower dividend yield than the bottom 25% of dividend payers in United States of America (1.43%).
  • National General Holdings's dividend is below the markets top 25% of dividend payers in United States of America (3.66%).
Upcoming dividend payment

Purchase National General Holdings before the 'Ex-dividend' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGM:NGHC.O Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
United States of America Insurance Industry Average Dividend Yield Market Cap Weighted Average of 78 Stocks 2.3%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1949 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGM:NGHC.O Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.23 3.00
2020-12-31 0.21 3.00
2019-12-31 0.18 3.00
2019-11-15
NasdaqGM:NGHC.O Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-10-30 0.200 0.918
2019-07-29 0.200 0.857
2019-05-06 0.160 0.683
2019-02-25 0.160 0.654
2018-10-29 0.160 0.640
2018-08-06 0.160 0.609
2018-05-07 0.160 0.592
2018-02-26 0.160 0.651
2017-11-06 0.160 0.792
2017-08-07 0.160 0.853
2017-05-09 0.160 0.746
2017-02-24 0.160 0.691
2016-11-07 0.160 0.664
2016-08-04 0.160 0.733
2016-05-18 0.120 0.568
2016-02-24 0.120 0.563
2016-02-09 0.120 0.613
2015-11-09 0.120 0.577
2015-11-02 0.120 0.563
2015-08-03 0.080 0.410
2015-05-08 0.080 0.387
2015-02-27 0.080 0.426
2015-02-10 0.080 0.435
2014-11-12 0.080 0.431
2014-11-04 0.080 0.423
2014-08-08 0.040 0.220
2014-05-28 0.040 0.227
2014-03-12 0.040 0.283
2014-02-21 0.040 0.282

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, National General Holdings has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but National General Holdings only paid a dividend in the past 6 years.
Current Payout to shareholders
What portion of National General Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are thoroughly covered by earnings (12.2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (13.5x coverage).
X
Income/ dividend checks
We assess National General Holdings's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can National General Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. National General Holdings has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of National General Holdings's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Barry Karfunkel
COMPENSATION $5,892,270
AGE 39
TENURE AS CEO 3.6 years
CEO Bio

Mr. Barry Samuel Karfunkel has been Co-Chairman of the Board at National General Holdings Corporation since May 07, 2018 and its Chief Executive Officer and Director since April 2016 and 2010 respectively. He joined National General Holdings Corporation at inception in 2010 and was its President since November 2015 until May 07, 2018. He also served as executive vice president and chief marketing officer of National General Holdings Corporation from 2013 to 2015. He also serves as an officer and Director of many of the subsidiaries of National General Holdings Corporation. Prior to that, he was a Managing Director with Maiden Capital Solutions from 2009 to 2010, and an Analyst with AmTrust Capital Partners from 2007 to 2009.

CEO Compensation
  • Barry's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Barry's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the National General Holdings management team in years:

4.3
Average Tenure
46
Average Age
  • The tenure for the National General Holdings management team is about average.
Management Team

Barry Karfunkel

TITLE
CEO & Co-Chairman
COMPENSATION
$6M
AGE
39
TENURE
3.6 yrs

Robert Karfunkel

TITLE
President & Co-Chairman
COMPENSATION
$5M
AGE
35
TENURE
1.5 yrs

Mike Weiner

TITLE
Executive VP & CFO
COMPENSATION
$3M
AGE
47
TENURE
9.8 yrs

Peter Rendall

TITLE
Executive VP & COO
COMPENSATION
$3M
AGE
46
TENURE
4.3 yrs

Jeff Weissmann

TITLE
Executive VP
COMPENSATION
$3M
AGE
41
TENURE
8.8 yrs

Peter Rendall

TITLE
Chief Operating Officer
AGE
46
TENURE
4.3 yrs

Lawrence Moloney

TITLE
Senior VP & Chief Accounting Officer
AGE
56
TENURE
2.5 yrs

Sam Rea

TITLE
Executive VP & Chief Information Officer

Paul Anderson

TITLE
Director of Investor Relations

Nicole Pemberton

TITLE
Senior Vice President of Human Resources
Board of Directors Tenure

Average tenure and age of the National General Holdings board of directors in years:

4.8
Average Tenure
63
Average Age
  • The tenure for the National General Holdings board of directors is about average.
Board of Directors

Robert Karfunkel

TITLE
President & Co-Chairman
COMPENSATION
$5M
AGE
35
TENURE
1.5 yrs

Donald DeCarlo

TITLE
Independent Director
COMPENSATION
$133K
AGE
80
TENURE
9.8 yrs

Barry Karfunkel

TITLE
CEO & Co-Chairman
COMPENSATION
$6M
AGE
39
TENURE
1.5 yrs

John Marshaleck

TITLE
Independent Director
COMPENSATION
$143K
AGE
67
TENURE
3.2 yrs

Barry Zyskind

TITLE
Director
AGE
47
TENURE
6.4 yrs

Pat Fallon

TITLE
Independent Director
COMPENSATION
$138K
AGE
74
TENURE
6.4 yrs

Barbara Paris

TITLE
Independent Director
COMPENSATION
$128K
AGE
68
TENURE
6.4 yrs

Jay Nichols

TITLE
Independent Director
COMPENSATION
$128K
AGE
59
TENURE
2 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess National General Holdings's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. National General Holdings has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

National General Holdings Corp., a specialty personal lines insurance holding company, provides various insurance products and services in the United States, Bermuda, Luxembourg, and Sweden. The company's Property and Casualty segment offers standard, preferred, and nonstandard automobile insurance products; and recreational vehicle (RV) insurance products that carry RV-specific endorsements comprising automatic personal effects coverage, optional replacement cost coverage, RV storage coverage, and full-time liability coverage. It also provides homeowners policies consisting of property and liability coverages for one-and two-family, and owner-occupied residences; and additional personal umbrella coverage to the homeowners. In addition, this segment offers small business automobile insurance products, which covers liability and physical damage caused by light-to-medium duty commercial vehicles; motorcycle insurance products for various types of motorcycles, golf carts, and all-terrain vehicles; and lender-placed insurance products, including fire, home, and flood products, as well as collateral protection insurance and guaranteed asset protection products for automobiles. It sells its products through retail store fronts, Web/mobile, phone contact centers, and kiosks; and agents and affinity partners. The company's Accident and Health segment provides accident and non-major medical health insurance products, such as accident/AD&D coverage in the event of bodily injury or death due to accidental means; hospital indemnity; short-term medical plans; cancer/critical illness policies; basic dental coverage; and life insurance products for individuals, as well as stop loss programs for employers. It sells its products through agents, managing general underwriters, employers, Internet; and directly. The company was formerly known as American Capital Acquisition Corporation. National General Holdings Corp. was founded in 1939 and is headquartered in New York, New York.

Details
Name: National General Holdings Corp.
NGHC.O
Exchange: NasdaqGM
Founded: 1939
$2,421,812,585
113,327,683
Website: http://www.nationalgeneral.com
Address: National General Holdings Corp.
59 Maiden Lane,
38th Floor,
New York,
New York, 10038,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGM NGHC Common Stock Nasdaq Global Market US USD 19. Jun 2013
DB 5NAA Common Stock Deutsche Boerse AG DE EUR 19. Jun 2013
NasdaqGM NGHC.O DEP SHS PFD-B Nasdaq Global Market US USD 25. Mar 2015
NasdaqGM NGHC.P PFD SER A % Nasdaq Global Market US USD 23. Jun 2014
NasdaqGM NGHC.N DEP SHS PFD C Nasdaq Global Market US USD 30. Jun 2016
OTCPK NTGK.P DEP SHS PFD-B Pink Sheets LLC US USD 15. Nov 2019
Number of employees
Current staff
Staff numbers
8,440
National General Holdings employees.
Industry
Multi-line Insurance
Insurance
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/11/15 00:37
End of day share price update: 2019/11/14 00:00
Last estimates confirmation: 2019/11/06
Last earnings filing: 2019/10/30
Last earnings reported: 2019/09/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.