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 released 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 commented on the company. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $56.00 target price on shares of The Navigators Group in a report on Monday, October 16th. BidaskClub raised The Navigators Group from a hold rating to a buy rating in a report on Wednesday, August 23rd. Boenning Scattergood reaffirmed a hold rating on shares of The Navigators Group in a report on Friday, August 4th. Finally, Sidoti started coverage on The Navigators Group in a research report on Thursday, June 22nd. They set a neutral rating and a $58.00 price target on the stock. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. The Navigators Group has an average rating of Hold and an average target price of $59.67.
Shares of The Navigators Group (NASDAQ NAVG) opened at 58.70 on Tuesday. The Navigators Group has a 1-year low of $45.38 and a 1-year high of $62.04. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 20.74 and a beta of 0.79. The stock has a 50 day moving average of $57.69 and a 200 day moving average of $55.11.
The Navigators Group (NASDAQ:NAVG) last announced its quarterly earnings data on Thursday, August 3rd. The insurance provider reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.08. The business had revenue of $293.80 million for the quarter, compared to analyst estimates of $297.82 million. The Navigators Group had a return on equity of 6.53% and a net margin of 6.86%. The company’s revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.54 earnings per share. Analysts predict that The Navigators Group will post $1.31 EPS for the current year.
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In other news, Director Patricia H. Roberts bought 1,355 shares of the firm’s stock in a transaction dated Friday, August 18th. The shares were acquired at an average price of $55.29 per share, for a total transaction of $74,917.95. Following the completion of the transaction, the director now directly owns 3,951 shares in the company, valued at approximately $218,450.79. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP R Scott Eisdorfer sold 10,985 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $56.33, for a total value of $618,785.05. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,000 shares of company stock worth $1,123,880. Company insiders own 24.10% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. purchased a new position in The Navigators Group during the first quarter worth approximately $105,000. Bank of Montreal Can lifted its position in 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 buying an additional 97 shares in the last quarter. Huntington National Bank lifted its position in 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 buying an additional 494 shares in the last quarter. SG Americas Securities LLC lifted its position in 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 buying an additional 871 shares in the last quarter. Finally, Diversified Trust Co purchased a new position in The Navigators Group during the second quarter worth approximately $200,000. Hedge funds and other institutional investors own 73.93% 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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