In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), National General Holdings Corp. (NASDAQ:NGHC) reported that Karfunkel Leah has picked up 44,594,570 of common stock as of 2017-06-15.
The acquisition brings the aggregate amount owned by Karfunkel Leah to a total of 44,594,570 representing a 41.9% stake in the company.
For those not familiar with the company, National General Holdings Corp. is a specialty personal lines insurance holding company. Through its subsidiaries, the Company provides a range of insurance products, including personal and commercial automobile, homeowners, umbrella, recreational vehicle, supplemental health, lender-placed and other niche products. It operates through two segments: Property and Casualty (P&C) and Accident and Health (A&H). Its P&C segment offers its P&C insurance products through a network of agents, a number of affinity partners and through direct-response marketing programs. Its A&H segment provides accident and non-major medical health insurance products targeting its existing P&C policyholders and the anticipated market of employed persons who are uninsured or underinsured. The P&C segment operates its business through three distribution channels: agency, affinity and direct. The A&H segment provides supplemental accident and health insurance products.
A glance at National General Holdings Corp. (NASDAQ:NGHC)’s key stats reveals a current market capitalization of $2.33 Billion based on $106.54 Million shares outstanding and a price at last close of $21.81 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-05-15, Marshaleck picked up 5,000 at a purchase price of $21.77. This brings their total holding to 5,000 as of the date of the filing.
On the sell side, the most recent transaction saw Rendall unload 32,659 shares at a sale price of $22.05. This brings their total holding to 31,027.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an National General Holdings Corp. (NASDAQ:NGHC) as things move forward to see if its progress aligns with these transactions.
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