Zacks Investment Research upgraded shares of Navigators Group (NASDAQ:NAVG) from a hold rating to a strong-buy rating in a report published on Saturday, February 17th. Zacks Investment Research currently has $58.00 price target on the insurance provider’s stock.
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. Sandler O’Neill upgraded shares of Navigators Group from a hold rating to a buy rating in a research note on Thursday, December 7th. BidaskClub upgraded shares of Navigators Group from a sell rating to a hold rating in a research note on Saturday, February 17th. Boenning Scattergood reiterated a hold rating on shares of Navigators Group in a research note on Friday, February 16th. Keefe, Bruyette & Woods reiterated a sell rating on shares of Navigators Group in a research note on Thursday, December 21st. Finally, ValuEngine cut shares of Navigators Group from a hold rating to a sell rating in a research note on Friday, November 10th. Three investment analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $57.00.
Navigators Group (NAVG) traded down $0.70 during trading hours on Friday, reaching $57.50. 103,369 shares of the company’s stock were exchanged, compared to its average volume of 103,495. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.39 and a current ratio of 0.39. Navigators Group has a fifty-two week low of $45.80 and a fifty-two week high of $60.35. The company has a market cap of $1,723.16, a P/E ratio of 50.74 and a beta of 0.57.
Navigators Group (NASDAQ:NAVG) last posted its earnings results on Thursday, February 15th. The insurance provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.22. Navigators Group had a net margin of 3.08% and a return on equity of 2.85%. The business had revenue of $305.10 million during the quarter, compared to the consensus estimate of $314.59 million. During the same quarter in the previous year, the firm posted $0.71 EPS. The firm’s revenue was up 7.4% on a year-over-year basis. equities analysts predict that Navigators Group will post 2.8 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 23rd. Investors of record on Friday, March 2nd will be paid a dividend of $0.07 per share. This is a boost from Navigators Group’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Thursday, March 1st. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.49%. Navigators Group’s payout ratio is 21.05%.
In related news, insider Carl L. Bach III sold 2,000 shares of Navigators Group stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $56.51, for a total transaction of $113,020.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 24.10% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in NAVG. Sei Investments Co. lifted its stake in shares of Navigators Group by 2,600.0% during the 3rd quarter. Sei Investments Co. now owns 2,268 shares of the insurance provider’s stock valued at $132,000 after buying an additional 2,184 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Navigators Group in the 3rd quarter worth $204,000. Bank of Montreal Can lifted its stake in Navigators Group by 30.5% in the 4th quarter. Bank of Montreal Can now owns 4,585 shares of the insurance provider’s stock worth $223,000 after purchasing an additional 1,071 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new stake in Navigators Group in the 2nd quarter worth $266,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in Navigators Group in the 3rd quarter worth $364,000. Institutional investors own 76.43% of the company’s stock.
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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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