National Interstate Corp. (NASDAQ:NATL) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “National Interstate Corporation is a specialty property and casualty insurance company with a niche orientation and focus on the transportation industry. Their core products include property and casualty insurance for transportation companies, group captive insurance programs for transportation companies that they refer to as their alternative risk transfer operations, specialty personal lines, primarily, recreational vehicle coverage and general commercial insurance in Hawaii. “
National Interstate Corp. (NASDAQ:NATL) opened at 32.49 on Tuesday. National Interstate Corp. has a one year low of $21.15 and a one year high of $34.49. The firm has a market cap of $647.43 million, a price-to-earnings ratio of 28.13 and a beta of 1.07. The stock’s 50 day moving average is $32.51 and its 200-day moving average is $31.35.
National Interstate Corp. (NASDAQ:NATL) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.51 EPS for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.11. National Interstate Corp. had a net margin of 3.57% and a return on equity of 7.63%. On average, equities research analysts expect that National Interstate Corp. will post $1.85 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 13th. Investors of record on Friday, September 2nd were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend was Wednesday, August 31st. National Interstate Corp.’s dividend payout ratio (DPR) is presently 48.70%.
A number of hedge funds have recently bought and sold shares of the company. American International Group Inc. raised its stake in National Interstate Corp. by 3.3% in the second quarter. American International Group Inc. now owns 4,313 shares of the company’s stock worth $130,000 after buying an additional 138 shares during the period. Nationwide Fund Advisors raised its stake in National Interstate Corp. by 5.9% in the second quarter. Nationwide Fund Advisors now owns 4,803 shares of the company’s stock worth $145,000 after buying an additional 266 shares during the period. Schwab Charles Investment Management Inc. raised its stake in National Interstate Corp. by 1.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 22,248 shares of the company’s stock worth $674,000 after buying an additional 294 shares during the period. BlackRock Advisors LLC raised its stake in National Interstate Corp. by 16.4% in the second quarter. BlackRock Advisors LLC now owns 3,965 shares of the company’s stock worth $120,000 after buying an additional 559 shares during the period. Finally, California State Teachers Retirement System raised its stake in National Interstate Corp. by 3.8% in the second quarter. California State Teachers Retirement System now owns 15,708 shares of the company’s stock worth $475,000 after buying an additional 582 shares during the period. 85.55% of the stock is currently owned by institutional investors and hedge funds.
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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