Navigators Group (NASDAQ:NAVG) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Saturday, May 12th. The brokerage presently has a $67.00 price target on the insurance provider’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 12.42% from the stock’s previous close.
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 research analysts also recently issued reports about the stock. Keefe, Bruyette & Woods raised shares of Navigators Group from an “underperform” rating to a “market perform” rating and set a $59.00 target price for the company in a research report on Tuesday, May 8th. Boenning Scattergood reissued a “hold” rating on shares of Navigators Group in a research report on Tuesday, May 8th. BidaskClub downgraded shares of Navigators Group from a “buy” rating to a “hold” rating in a research report on Saturday, April 28th. ValuEngine downgraded shares of Navigators Group from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Finally, Sandler O’Neill reissued a “hold” rating and set a $60.00 target price on shares of Navigators Group in a research report on Friday, February 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $61.00.
NAVG opened at $59.60 on Friday. Navigators Group has a 1-year low of $45.80 and a 1-year high of $60.35. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of 38.27 and a beta of 0.51.
Navigators Group (NASDAQ:NAVG) last posted its quarterly earnings results on Monday, May 7th. The insurance provider reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.32. Navigators Group had a net margin of 3.72% and a return on equity of 3.87%. The firm had revenue of $346.21 million during the quarter, compared to the consensus estimate of $344.53 million. equities analysts predict that Navigators Group will post 2.98 earnings per share for the current year.
In related news, insider Carl L. Bach III sold 2,000 shares of the business’s stock in a transaction dated 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 can be accessed through the SEC website. 22.00% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. boosted its holdings in Navigators Group by 2.0% during the first quarter. Principal Financial Group Inc. now owns 172,024 shares of the insurance provider’s stock worth $9,917,000 after purchasing an additional 3,345 shares during the last quarter. Xact Kapitalforvaltning AB purchased a new position in Navigators Group in the first quarter valued at about $245,000. Legal & General Group Plc boosted its stake in Navigators Group by 2.6% in the first quarter. Legal & General Group Plc now owns 46,957 shares of the insurance provider’s stock valued at $2,717,000 after acquiring an additional 1,197 shares during the last quarter. Barclays PLC boosted its stake in Navigators Group by 97.8% in the first quarter. Barclays PLC now owns 6,520 shares of the insurance provider’s stock valued at $375,000 after acquiring an additional 3,223 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp purchased a new position in Navigators Group in the first quarter valued at about $236,000. Institutional investors and hedge funds own 74.14% of the company’s stock.
Navigators Group Company Profile
The Navigators Group, Inc, together with its subsidiaries, underwrites marine, property and casualty, and professional liability insurance products and services in the United States and internationally. The company operates through the U.S. Insurance, International Insurance, Global Reinsurance, and Corporate segments.
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