Confluence Investment Management LLC reduced its stake in shares of National Interstate Corp. (NASDAQ:NATL) by 2.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 71,573 shares of the company’s stock after selling 2,149 shares during the period. Confluence Investment Management LLC’s holdings in National Interstate Corp. were worth $2,165,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in NATL. Springbok Capital Management LLC acquired a new stake in National Interstate Corp. during the first quarter valued at $135,000. Highland Capital Management LLC acquired a new stake in National Interstate Corp. during the second quarter valued at $206,000. Alpine Partners VI LLC acquired a new stake in National Interstate Corp. during the first quarter valued at $242,000. Strs Ohio acquired a new stake in National Interstate Corp. during the second quarter valued at $317,000. Finally, Spark Investment Management LLC raised its stake in National Interstate Corp. by 47.2% in the first quarter. Spark Investment Management LLC now owns 15,900 shares of the company’s stock valued at $475,000 after buying an additional 5,100 shares during the period. 85.55% of the stock is currently owned by institutional investors and hedge funds.
National Interstate Corp. (NASDAQ:NATL) traded down 0.06% during trading on Wednesday, reaching $32.53. The company’s stock had a trading volume of 17,653 shares. The stock has a 50-day moving average price of $32.51 and a 200 day moving average price of $31.19. National Interstate Corp. has a 52-week low of $21.15 and a 52-week high of $34.49. The company has a market cap of $648.23 million, a PE ratio of 28.16 and a beta of 1.02.
National Interstate Corp. (NASDAQ:NATL) last issued its earnings results on Tuesday, August 2nd. The company reported $0.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.11. National Interstate Corp. had a return on equity of 7.63% and a net margin of 3.57%. On average, analysts expect that National Interstate Corp. will post $1.85 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 13th. Investors of record on Friday, September 2nd were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.72%. National Interstate Corp.’s payout ratio is 48.70%.
Separately, Zacks Investment Research raised National Interstate Corp. from a “hold” rating to a “strong-buy” rating and set a $37.00 price objective on the stock in a research note on Thursday, August 11th.
National Interstate Corp. Company Profile
National Interstate Corporation and its subsidiaries operate as an insurance holding company that underwrites and sells traditional and alternative property and casualty insurance products to the passenger transportation, trucking and moving and storage industries, general commercial insurance to small businesses in Hawaii and Alaska and personal insurance to owners of recreational vehicles throughout the United States.
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