Bank of New York Mellon Corp lowered its holdings in shares of Navigators Group Inc (NASDAQ:NAVG) by 2.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 457,411 shares of the insurance provider’s stock after selling 12,353 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.55% of Navigators Group worth $22,277,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in NAVG. Crossmark Global Holdings Inc. purchased a new stake in shares of Navigators Group during the 3rd quarter valued at about $364,000. Prudential Financial Inc. increased its position in shares of Navigators Group by 9.3% during the 3rd quarter. Prudential Financial Inc. now owns 51,982 shares of the insurance provider’s stock valued at $3,033,000 after purchasing an additional 4,440 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Navigators Group by 53.5% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 11,966 shares of the insurance provider’s stock valued at $698,000 after purchasing an additional 4,170 shares during the last quarter. Sei Investments Co. increased its position 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 purchasing an additional 2,184 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan increased its holdings in Navigators Group by 41.3% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 10,640 shares of the insurance provider’s stock worth $621,000 after acquiring an additional 3,110 shares in the last quarter. 76.44% of the stock is owned by hedge funds and other institutional investors.
In other Navigators Group news, insider Carl L. Bach III sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $56.51, for a total value of $113,020.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 24.10% of the company’s stock.
Shares of NAVG stock opened at $58.20 on Wednesday. The stock has a market cap of $1,717.25, a P/E ratio of 43.76 and a beta of 0.57. Navigators Group Inc has a fifty-two week low of $45.80 and a fifty-two week high of $60.35. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.22.
Navigators Group (NASDAQ:NAVG) last released its earnings results on Thursday, February 15th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.22. The company had revenue of $305.10 million during the quarter, compared to analyst estimates of $314.59 million. Navigators Group had a net margin of 3.08% and a return on equity of 2.85%. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.71 EPS. analysts predict that Navigators Group Inc will post 2.8 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 23rd. Shareholders of record on Friday, March 2nd will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.48%. This is an increase from Navigators Group’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Thursday, March 1st. Navigators Group’s dividend payout ratio is presently 21.05%.
Several equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods reissued a “sell” rating and issued a $52.00 target price on shares of Navigators Group in a report on Friday, February 23rd. Zacks Investment Research lowered shares of Navigators Group from a “strong-buy” rating to a “sell” rating in a report on Wednesday, February 21st. Sandler O’Neill lowered shares of Navigators Group from a “buy” rating to a “hold” rating in a report on Tuesday, February 20th. They noted that the move was a valuation call. BidaskClub raised shares of Navigators Group from a “sell” rating to a “hold” rating in a report on Saturday, February 17th. Finally, Boenning Scattergood reissued a “hold” rating on shares of Navigators Group in a report on Friday, February 16th. Three research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $57.00.
TRADEMARK VIOLATION WARNING: “Bank of New York Mellon Corp Trims Stake in Navigators Group Inc (NAVG)” was reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this article on another domain, it was stolen and reposted in violation of United States and international trademark & copyright laws. The correct version of this article can be read at https://ledgergazette.com/2018/03/21/bank-of-new-york-mellon-corp-trims-stake-in-navigators-group-inc-navg.html.
Navigators Group 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.
Want to see what other hedge funds are holding NAVG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Navigators Group Inc (NASDAQ:NAVG).
Receive News & Ratings for Navigators Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Navigators Group and related companies with MarketBeat.com's FREE daily email newsletter.