Zacks Investment Research lowered shares of Navigators Group (NASDAQ:NAVG) from a buy rating to a hold rating in a research report report published on Thursday morning.
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. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $56.00 price target on shares of Navigators Group in a research note on Monday, October 16th. ValuEngine lowered Navigators Group from a hold rating to a sell rating in a research note on Friday, November 10th. Boenning Scattergood reaffirmed a hold rating on shares of Navigators Group in a research note on Monday, November 6th. BidaskClub downgraded Navigators Group from a sell rating to a strong sell rating in a report on Thursday, December 21st. Finally, Sandler O’Neill upgraded Navigators Group from a hold rating to a buy rating in a report on Thursday, December 7th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Navigators Group has an average rating of Hold and a consensus price target of $52.67.
Navigators Group (NASDAQ NAVG) traded down $0.05 on Thursday, reaching $48.75. The company had a trading volume of 59,224 shares, compared to its average volume of 92,360. Navigators Group has a 12-month low of $45.80 and a 12-month high of $60.35. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.23. The firm has a market cap of $1,438.27, a price-to-earnings ratio of 52.99 and a beta of 0.78.
Navigators Group (NASDAQ:NAVG) last posted its earnings results on Thursday, November 2nd. The insurance provider reported ($1.00) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.63) by ($0.37). Navigators Group had a return on equity of 2.32% and a net margin of 2.79%. The company had revenue of $326.47 million during the quarter, compared to analyst estimates of $307.12 million. During the same quarter last year, the firm posted $1.40 earnings per share. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. research analysts expect that Navigators Group will post 0.93 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, November 24th were issued a $0.06 dividend. The ex-dividend date of this dividend was Wednesday, November 22nd. This represents a $0.24 dividend on an annualized basis and a yield of 0.49%. Navigators Group’s dividend payout ratio is presently 20.87%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can increased its stake in Navigators Group by 4.9% during the 2nd quarter. Bank of Montreal Can now owns 2,073 shares of the insurance provider’s stock worth $113,000 after acquiring an additional 97 shares during the period. Legal & General Group Plc lifted its position in shares of Navigators Group by 7.7% during the second quarter. Legal & General Group Plc now owns 42,596 shares of the insurance provider’s stock worth $2,338,000 after acquiring an additional 3,061 shares in the last quarter. BNP Paribas Arbitrage SA lifted its position in shares of Navigators Group by 48.9% during the second quarter. BNP Paribas Arbitrage SA now owns 7,796 shares of the insurance provider’s stock worth $428,000 after acquiring an additional 2,561 shares in the last quarter. Neuberger Berman Group LLC bought a new position in shares of Navigators Group in the second quarter worth $202,000. Finally, Principal Financial Group Inc. increased its holdings in shares of Navigators Group by 1.3% in the second quarter. Principal Financial Group Inc. now owns 186,613 shares of the insurance provider’s stock worth $10,245,000 after purchasing an additional 2,451 shares during the period. Institutional investors and hedge funds own 73.95% of the company’s stock.
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About Navigators Group
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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