The Navigators Group Inc. (NAVG) Sees Large Volume Increase
Shares of The Navigators Group Inc. (NASDAQ:NAVG) saw strong trading volume on Thursday . 118,967 shares traded hands during mid-day trading, an increase of 93% from the previous session’s volume of 61,593 shares.The stock last traded at $92.13 and had previously closed at $91.74.
Several analysts recently issued reports on the company. Keefe, Bruyette & Woods restated a “hold” rating on shares of The Navigators Group in a research note on Sunday, May 29th. Zacks Investment Research upgraded The Navigators Group from a “sell” rating to a “hold” rating in a research note on Thursday, June 16th.
The company has a market capitalization of $1.34 billion and a PE ratio of 18.30. The firm’s 50 day moving average price is $91.23 and its 200-day moving average price is $86.86.
The Navigators Group (NASDAQ:NAVG) last posted its earnings results on Thursday, August 4th. The company reported $0.81 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.02. During the same quarter in the prior year, the business earned $1.34 EPS. The company earned $267.90 million during the quarter, compared to the consensus estimate of $270.31 million. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. Analysts anticipate that The Navigators Group Inc. will post $4.82 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, August 19th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, August 17th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.39%.
Several hedge funds and institutional investors recently bought and sold shares of NAVG. Jennison Associates LLC bought a new position in The Navigators Group during the fourth quarter worth $1,032,000. Bank of Montreal Can raised its position in The Navigators Group by 433.8% in the fourth quarter. Bank of Montreal Can now owns 25,525 shares of the company’s stock worth $2,190,000 after buying an additional 20,743 shares in the last quarter. Finally, Matarin Capital Management LLC bought a new position in The Navigators Group during the fourth quarter worth $3,977,000.
The Navigators Group, Inc is a holding company. The Company is an international insurance company focused on marine insurance. The Company’s segments are U.S. Insurance, International Insurance (Int’l Insurance), Global Reinsurance (GlobalRe) and Corporate. The Company’s Property and Casualty (P&C) insurance business primarily offers general liability coverage, and umbrella and excess liability coverage to commercial enterprises through its Primary and Excess Casualty divisions.
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