Wall Street brokerages forecast that Navigators Group, Inc. (NASDAQ:NAVG) will report $0.67 earnings per share for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Navigators Group’s earnings, with the highest EPS estimate coming in at $0.70 and the lowest estimate coming in at $0.63. Navigators Group posted earnings of $0.66 per share in the same quarter last year, which would suggest a positive year over year growth rate of 1.5%. The company is scheduled to report its next quarterly earnings results on Thursday, August 2nd.
Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Navigators Group.
Navigators Group (NASDAQ:NAVG) last announced its quarterly earnings results on Monday, May 7th. The insurance provider reported $1.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.32. The business had revenue of $346.21 million during the quarter, compared to analysts’ expectations of $344.53 million. Navigators Group had a return on equity of 3.87% and a net margin of 3.72%.
A number of equities research analysts have issued reports on the company. Zacks Investment Research raised Navigators Group from a “hold” rating to a “strong-buy” rating and set a $67.00 target price for the company in a research report on Saturday. Keefe, Bruyette & Woods raised 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 reaffirmed a “hold” rating on shares of Navigators Group in a research report on Tuesday, May 8th. BidaskClub cut Navigators Group from a “buy” rating to a “hold” rating in a research report on Saturday, April 28th. Finally, ValuEngine cut Navigators Group from a “hold” rating to a “sell” rating in a research report on Tuesday, April 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $61.00.
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 transaction of $113,020.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 22.00% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the business. Bank of Montreal Can lifted its holdings in shares of Navigators Group by 30.5% during the fourth quarter. Bank of Montreal Can now owns 4,585 shares of the insurance provider’s stock worth $223,000 after buying an additional 1,071 shares during the last quarter. Mitsubishi UFJ Asset Management UK Ltd. lifted its holdings in shares of Navigators Group by 25.0% during the fourth quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 25,000 shares of the insurance provider’s stock worth $1,217,000 after buying an additional 5,000 shares during the last quarter. Reinhart Partners Inc. lifted its holdings in shares of Navigators Group by 28.1% during the fourth quarter. Reinhart Partners Inc. now owns 68,704 shares of the insurance provider’s stock worth $3,346,000 after buying an additional 15,080 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Navigators Group during the fourth quarter worth approximately $2,702,000. Finally, Moody Aldrich Partners LLC lifted its holdings in shares of Navigators Group by 23.3% during the fourth quarter. Moody Aldrich Partners LLC now owns 26,494 shares of the insurance provider’s stock worth $1,290,000 after buying an additional 5,008 shares during the last quarter. 75.67% of the stock is owned by hedge funds and other institutional investors.
Shares of Navigators Group opened at $58.65 on Friday, according to Marketbeat. The company has a market capitalization of $1.76 billion, a P/E ratio of 50.56 and a beta of 0.51. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.41 and a quick ratio of 0.41. Navigators Group has a 52 week low of $58.65 and a 52 week high of $59.20.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 8th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, June 7th. This represents a $0.28 dividend on an annualized basis and a yield of 0.48%. Navigators Group’s payout ratio is currently 24.14%.
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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