Analysts expect Navigators Group, Inc. (NASDAQ:NAVG) to announce earnings per share of $0.79 for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Navigators Group’s earnings. The highest EPS estimate is $0.79 and the lowest is $0.78. Navigators Group posted earnings per share of $0.68 in the same quarter last year, which would suggest a positive year-over-year growth rate of 16.2%. The business is expected to issue its next quarterly earnings report on Thursday, May 3rd.
Zacks’ earnings per share averages are a mean average based on a survey of research firms that follow Navigators Group.
Navigators Group (NASDAQ:NAVG) last announced its quarterly earnings results on Thursday, February 15th. The insurance provider reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.22. The firm had revenue of $305.10 million for the quarter, compared to analysts’ expectations of $314.59 million. Navigators Group had a return on equity of 2.85% and a net margin of 3.08%. The business’s revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.71 earnings per share.
Several analysts have recently commented on the company. Boenning Scattergood restated a “hold” rating on shares of Navigators Group in a report on Friday, February 16th. ValuEngine cut Navigators Group from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Keefe, Bruyette & Woods restated a “sell” rating on shares of Navigators Group in a report on Thursday, December 21st. BidaskClub upgraded Navigators Group from a “strong sell” rating to a “sell” rating in a report on Monday, February 5th. Finally, Zacks Investment Research cut Navigators Group from a “buy” rating to a “hold” rating in a report on Tuesday, January 23rd. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $57.00.
In other news, insider Carl L. Bach III sold 2,000 shares of the company’s stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $56.51, for a total transaction of $113,020.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 24.10% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Sei Investments Co. lifted its stake in shares of Navigators Group by 2,600.0% during the third quarter. Sei Investments Co. now owns 2,268 shares of the insurance provider’s stock valued at $132,000 after acquiring an additional 2,184 shares during the period. Cubist Systematic Strategies LLC acquired a new position in Navigators Group in the third quarter valued at about $204,000. Bank of Montreal Can lifted its stake in Navigators Group by 30.5% in the fourth quarter. Bank of Montreal Can now owns 4,585 shares of the insurance provider’s stock valued at $223,000 after buying an additional 1,071 shares during the period. Teacher Retirement System of Texas acquired a new position in Navigators Group in the fourth quarter valued at about $393,000. Finally, MetLife Investment Advisors LLC acquired a new position in Navigators Group in the fourth quarter valued at about $455,000. 76.44% of the stock is currently owned by institutional investors and hedge funds.
Shares of NAVG stock traded down $0.70 during trading hours on Friday, hitting $57.00. 84,846 shares of the company’s stock were exchanged, compared to its average volume of 78,898. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.39 and a current ratio of 0.39. The stock has a market capitalization of $1,693.53, a PE ratio of 49.14 and a beta of 0.50. Navigators Group has a 52 week low of $45.80 and a 52 week high of $60.35.
The company also recently declared a quarterly dividend, which was paid on Friday, March 23rd. Stockholders of record on Friday, March 2nd were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Thursday, March 1st. This is a positive change from Navigators Group’s previous quarterly dividend of $0.06. Navigators Group’s dividend payout ratio is 24.14%.
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About Navigators Group
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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