Rhumbline Advisers Has $2.43 Million Position in The Navigators Group, Inc. (NAVG)
Rhumbline Advisers lowered its holdings in The Navigators Group, Inc. (NASDAQ:NAVG) by 4.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 44,267 shares of the insurance provider’s stock after selling 2,044 shares during the period. Rhumbline Advisers owned about 0.15% of The Navigators Group worth $2,430,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of NAVG. Ameritas Investment Partners Inc. purchased a new position in The Navigators Group in the first quarter valued at about $105,000. Bank of Montreal Can lifted its holdings in The Navigators Group by 4.9% during the 2nd quarter. Bank of Montreal Can now owns 2,073 shares of the insurance provider’s stock worth $113,000 after buying an additional 97 shares during the last quarter. Huntington National Bank lifted its holdings in The Navigators Group by 29.2% during the 2nd quarter. Huntington National Bank now owns 2,183 shares of the insurance provider’s stock worth $120,000 after buying an additional 494 shares during the last quarter. SG Americas Securities LLC lifted its holdings in The Navigators Group by 42.1% during the 1st quarter. SG Americas Securities LLC now owns 2,942 shares of the insurance provider’s stock worth $160,000 after buying an additional 871 shares during the last quarter. Finally, Diversified Trust Co bought a new position in The Navigators Group during the 2nd quarter worth approximately $200,000. 73.93% of the stock is owned by hedge funds and other institutional investors.
In other The Navigators Group news, SVP R Scott Eisdorfer sold 3,532 shares of The Navigators Group stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $56.32, for a total transaction of $198,922.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Patricia H. Roberts acquired 1,355 shares of the firm’s stock in a transaction on Friday, August 18th. The shares were bought at an average cost of $55.29 per share, for a total transaction of $74,917.95. Following the completion of the acquisition, the director now directly owns 3,951 shares of the company’s stock, valued at approximately $218,450.79. The disclosure for this purchase can be found here. Insiders have sold 20,000 shares of company stock worth $1,123,880 over the last 90 days. Corporate insiders own 24.10% of the company’s stock.
The Navigators Group, Inc. (NAVG) opened at 56.25 on Wednesday. The firm’s 50-day moving average price is $55.82 and its 200-day moving average price is $54.29. The Navigators Group, Inc. has a 12-month low of $45.38 and a 12-month high of $62.04. The company has a market cap of $1.66 billion, a P/E ratio of 19.88 and a beta of 0.78.
The Navigators Group (NASDAQ:NAVG) last issued its quarterly earnings results on Thursday, August 3rd. The insurance provider reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.08. The Navigators Group had a return on equity of 6.53% and a net margin of 6.86%. The firm had revenue of $293.80 million for the quarter, compared to analyst estimates of $297.82 million. During the same period in the previous year, the company posted $0.54 earnings per share. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. Analysts expect that The Navigators Group, Inc. will post $2.56 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Thursday, August 24th will be paid a dividend of $0.06 per share. The ex-dividend date is Tuesday, August 22nd. This represents a $0.24 annualized dividend and a yield of 0.43%. The Navigators Group’s dividend payout ratio is 8.48%.
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A number of research analysts have commented on NAVG shares. Sidoti started coverage on The Navigators Group in a report on Thursday, June 22nd. They set a “neutral” rating and a $58.00 target price on the stock. Zacks Investment Research downgraded The Navigators Group from a “buy” rating to a “hold” rating in a report on Saturday, September 2nd. Boenning Scattergood started coverage on The Navigators Group in a report on Wednesday, June 28th. They set a “neutral” rating on the stock. BidaskClub raised The Navigators Group from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. Finally, ValuEngine downgraded The Navigators Group from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The Navigators Group currently has an average rating of “Hold” and an average price target of $58.50.
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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