Zacks Investment Research Lowers The Navigators Group, Inc. (NAVG) to Hold
Zacks Investment Research cut shares of The Navigators Group, Inc. (NASDAQ:NAVG) from a buy rating to a hold rating in a report issued on Saturday.
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. “
Other equities analysts have also recently issued reports about the stock. BidaskClub raised shares of The Navigators Group from a hold rating to a buy rating in a research report on Wednesday, August 23rd. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $55.00 price target on shares of The Navigators Group in a research report on Thursday, September 21st. ValuEngine cut shares of The Navigators Group from a buy rating to a hold rating in a research report on Friday, June 2nd. Boenning Scattergood reaffirmed a hold rating on shares of The Navigators Group in a research report on Friday, August 4th. Finally, Sidoti started coverage on shares of The Navigators Group in a research report on Thursday, June 22nd. They set a neutral rating and a $58.00 price target on the stock. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has an average rating of Hold and an average price target of $59.00.
Shares of The Navigators Group (NASDAQ:NAVG) opened at 57.00 on Friday. The Navigators Group has a 52-week low of $45.38 and a 52-week high of $62.04. The stock’s 50 day moving average price is $55.82 and its 200-day moving average price is $54.30. The firm has a market cap of $1.68 billion, a PE ratio of 20.14 and a beta of 0.78.
The Navigators Group (NASDAQ:NAVG) last posted its quarterly earnings data on Thursday, August 3rd. The insurance provider reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.08. The company had revenue of $293.80 million during the quarter, compared to analysts’ expectations of $297.82 million. The Navigators Group had a net margin of 6.86% and a return on equity of 6.53%. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.54 EPS. On average, equities research analysts anticipate that The Navigators Group will post $2.59 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which was paid on Thursday, September 14th. Stockholders of record on Thursday, August 24th were given a dividend of $0.06 per share. The ex-dividend date was Tuesday, August 22nd. This represents a $0.24 annualized dividend and a dividend yield of 0.42%. The Navigators Group’s payout ratio is 8.48%.
In other The Navigators Group news, Director Patricia H. Roberts acquired 1,355 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The shares were purchased at an average price of $55.29 per share, for a total transaction of $74,917.95. Following the completion of the purchase, the director now directly owns 3,951 shares in the company, valued at $218,450.79. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP R Scott Eisdorfer sold 3,532 shares of the stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $56.32, for a total transaction of $198,922.24. The disclosure for this sale can be found here. Insiders have sold 20,000 shares of company stock worth $1,123,880 in the last ninety days. Corporate insiders own 24.10% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Great West Life Assurance Co. Can raised its stake in The Navigators Group by 3.3% during the second quarter. Great West Life Assurance Co. Can now owns 33,907 shares of the insurance provider’s stock worth $1,857,000 after acquiring an additional 1,080 shares during the period. Swiss National Bank raised its stake in The Navigators Group by 100.0% during the first quarter. Swiss National Bank now owns 40,800 shares of the insurance provider’s stock worth $2,215,000 after acquiring an additional 20,400 shares during the period. Nationwide Fund Advisors raised its stake in The Navigators Group by 88.0% during the first quarter. Nationwide Fund Advisors now owns 56,562 shares of the insurance provider’s stock worth $3,071,000 after acquiring an additional 26,469 shares during the period. Stevens Capital Management LP acquired a new stake in The Navigators Group during the first quarter worth about $248,000. Finally, American International Group Inc. raised its stake in The Navigators Group by 68.4% during the first quarter. American International Group Inc. now owns 13,810 shares of the insurance provider’s stock worth $750,000 after acquiring an additional 5,610 shares during the period. Hedge funds and other institutional investors own 73.91% of the company’s stock.
The Navigators Group Company Profile
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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