The Navigators Group, Inc. (NAVG) Rating Increased to Strong-Buy at Zacks Investment Research
The Navigators Group, Inc. (NASDAQ:NAVG) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Wednesday. The firm currently has a $65.00 price objective on the insurance provider’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 15.76% from the company’s previous close.
According to Zacks, “The Navigators Group, Inc. is a holding company with twelve active wholly owned subsidiaries. They primarily write marine, onshore energy, engineering and construction insurance, and a contractors’ general liability program. As underwritten by Navigators, marine insurance includes hull, energy, liability and cargo; onshore energy primarily covers property damage with an emphasis on the oil and petrochemical sectors; and engineering and construction primarily covers construction projects including machinery, equipment and loss of use due to delays. “
NAVG has been the topic of several other research reports. ValuEngine lowered shares of The Navigators Group from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Boenning Scattergood reiterated a “hold” rating on shares of The Navigators Group in a report on Friday, August 4th. Finally, Sidoti assumed coverage on shares of The Navigators Group in a report on Thursday, June 22nd. They set a “neutral” rating and a $58.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $59.50.
Shares of The Navigators Group (NASDAQ:NAVG) opened at 56.15 on Wednesday. The company has a 50 day moving average of $55.10 and a 200-day moving average of $56.07. The company has a market cap of $1.65 billion, a PE ratio of 20.94 and a beta of 0.77. The Navigators Group has a 52-week low of $50.30 and a 52-week high of $124.08.
The Navigators Group (NASDAQ:NAVG) last announced its quarterly earnings data on Thursday, August 3rd. The insurance provider reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.08. The Navigators Group had a net margin of 6.86% and a return on equity of 6.53%. The firm had revenue of $293.80 million for the quarter, compared to analyst estimates of $297.82 million. During the same quarter in the prior year, the business earned $0.54 earnings per share. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. Analysts forecast that The Navigators Group will post $2.53 EPS for the current fiscal year.
In other news, CEO Vincent C. Tizzio sold 20,000 shares of the business’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $52.68, for a total transaction of $1,053,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Colin Sprott sold 10,000 shares of the business’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $52.73, for a total transaction of $527,300.00. The disclosure for this sale can be found here. Insiders have sold 55,000 shares of company stock worth $2,933,900 in the last quarter. Company insiders own 24.10% of the company’s stock.
Several large investors have recently bought and sold shares of NAVG. Swiss National Bank increased its stake in The Navigators Group by 100.0% in the first quarter. Swiss National Bank now owns 40,800 shares of the insurance provider’s stock valued at $2,215,000 after buying an additional 20,400 shares during the last quarter. Nationwide Fund Advisors increased its stake in The Navigators Group by 88.0% in the first quarter. Nationwide Fund Advisors now owns 56,562 shares of the insurance provider’s stock valued at $3,071,000 after buying an additional 26,469 shares during the last quarter. Stevens Capital Management LP acquired a new stake in The Navigators Group during the first quarter valued at approximately $248,000. Prudential Financial Inc. increased its stake in The Navigators Group by 1.8% in the first quarter. Prudential Financial Inc. now owns 47,792 shares of the insurance provider’s stock valued at $2,595,000 after buying an additional 839 shares during the last quarter. Finally, American International Group Inc. increased its stake in The Navigators Group by 68.4% in the first quarter. American International Group Inc. now owns 13,810 shares of the insurance provider’s stock valued at $750,000 after buying an additional 5,610 shares during the last quarter. 73.11% of the stock is owned by institutional investors.
About The Navigators Group
The Navigators Group, Inc is an insurance holding company. The Company is an international insurance company focused on marine insurance. The Company’s segments include 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 U.S.
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