Zacks Investment Research lowered shares of The Navigators Group, Inc. (NASDAQ:NAVG) from a hold rating to a strong sell rating in a research note published on Tuesday, October 17th.
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. “
Several other analysts have also issued reports on NAVG. Keefe, Bruyette & Woods restated a hold rating and issued a $56.00 price objective on shares of The Navigators Group in a research note on Monday, October 16th. Boenning Scattergood restated a hold rating on shares of The Navigators Group in a research note on Friday, August 4th. Sidoti assumed coverage on The Navigators Group in a research note on Thursday, June 22nd. They issued a neutral rating and a $58.00 price objective on the stock. Finally, BidaskClub upgraded The Navigators Group from a hold rating to a buy rating in a research note on Wednesday, August 23rd. One analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $59.67.
The Navigators Group (NAVG) traded down $0.62 during trading hours on Tuesday, reaching $50.78. The company’s stock had a trading volume of 92,118 shares, compared to its average volume of 68,937. The Navigators Group has a 12-month low of $46.10 and a 12-month high of $62.04. The company has a market capitalization of $1,516.47, a price-to-earnings ratio of 55.87 and a beta of 0.84. The company has a quick ratio of 0.43, a current ratio of 0.42 and a debt-to-equity ratio of 0.23.
The Navigators Group (NASDAQ:NAVG) last released its earnings results on Thursday, November 2nd. The insurance provider reported ($1.00) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.63) by ($0.37). The company had revenue of $326.47 million for the quarter, compared to the consensus estimate of $307.12 million. The Navigators Group had a return on equity of 2.32% and a net margin of 2.79%. The business’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.40 EPS. equities research analysts forecast that The Navigators Group will post 1.25 earnings per share for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 24th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $0.24 annualized dividend and a yield of 0.47%. The Navigators Group’s dividend payout ratio is 20.87%.
In other news, SVP R Scott Eisdorfer sold 10,985 shares of the stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $56.33, for a total transaction of $618,785.05. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Patricia H. Roberts bought 1,355 shares of the stock in a transaction dated 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 purchase, the director now owns 3,951 shares of the company’s stock, valued at approximately $218,450.79. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 20,000 shares of company stock worth $1,123,880. 24.10% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Ameritas Investment Partners Inc. bought a new position in shares of The Navigators Group during the first quarter worth approximately $105,000. Bank of Montreal Can increased its stake in shares of The Navigators Group by 4.9% during the second quarter. Bank of Montreal Can now owns 2,073 shares of the insurance provider’s stock worth $113,000 after purchasing an additional 97 shares during the period. Huntington National Bank increased its stake in shares of The Navigators Group by 29.2% during the second quarter. Huntington National Bank now owns 2,183 shares of the insurance provider’s stock worth $120,000 after purchasing an additional 494 shares during the period. Sei Investments Co. increased its stake in shares of The Navigators Group by 2,600.0% during the third quarter. Sei Investments Co. now owns 2,268 shares of the insurance provider’s stock worth $132,000 after purchasing an additional 2,184 shares during the period. Finally, SG Americas Securities LLC increased its stake in shares of The Navigators Group by 42.1% during the first quarter. SG Americas Securities LLC now owns 2,942 shares of the insurance provider’s stock worth $160,000 after purchasing an additional 871 shares during the period. Institutional investors own 73.98% 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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