Nishkama Capital LLC
Author, hedge fund manager, growth at reasonable price

National General: 100%+ Upside With Low Risk, Short-Term Catalysts And A+ Management

Since our initial article on National General (NYSE: NGHC), the company has completed two major successful acquisitions.

As a result, we are revising our pro forma earnings power estimate of the company from $2.50 to $3.00, which could be achieved by 2018. We now think that NGHC can do ~$2.75 in EPS by 2017. Based on these new estimates, we are raising our 2-year price target to $42. Last year, NGHC acquired QBE's lender-placed insurance business, a controversial line historically, which has stabilized after the Dodd Frank reform and retrenchment by several large players. NGHC also acquired Assurant Health, which writes small group self-funded (Stop Loss) company sponsored health benefit plans and supplemental products, including dental, accident, cancer/critical

Join Seeking Alpha PRO to read this archived article and 11,574 other archived articles
FREESA PRO MEMBERS
IDEA GENERATORXExclusive access to 10 PRO ideas every day
INVESTING IDEAS LIBRARYXExclusive access to PRO library of more than 15,000 ideas
SECTOR EXPERT NETWORKXExclusive access to all sector experts for direct consultation
PERFORMANCE TRACKINGXTrack performance of all PRO stock ideas
PROFESSIONAL TOOLSXProfessional Idea Filters to zero-in based on industry, market cap and more
"In just the first month of using PRO, I used it to generate two ideas which were actionable for me. As a result of these two positions, I have earned more than 20 times the annual subscription costs for PRO."Michael Yagemann, Greenbridge Capital
"I am pleasantly surprised with the scope of small and mid-cap coverage PRO offers. You can't find that any where else."Patrick Rice, Mainstay Capital Management
You may cancel at any time for any reason, and receive a prompt refund for membership on months paid and not used (max. 6 months). Details