Navigators Group (NAVG) Cut to Buy at BidaskClub

BidaskClub downgraded shares of Navigators Group (NASDAQ:NAVG) from a strong-buy rating to a buy rating in a research note issued to investors on Friday morning.

Several other analysts have also recently commented on the stock. Boenning Scattergood restated a hold rating on shares of Navigators Group in a research note on Thursday, August 9th. Sandler O’Neill cut shares of Navigators Group from a buy rating to a hold rating in a research note on Thursday, September 27th. ValuEngine upgraded shares of Navigators Group from a hold rating to a buy rating in a research note on Tuesday, October 2nd. Zacks Investment Research upgraded shares of Navigators Group from a hold rating to a strong-buy rating and set a $67.00 price objective for the company in a research note on Friday, July 20th. Finally, Keefe, Bruyette & Woods set a $62.00 price objective on shares of Navigators Group and gave the company a hold rating in a research note on Thursday, August 9th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has an average rating of Hold and a consensus price target of $65.67.

Shares of NAVG stock traded up $0.24 during mid-day trading on Friday, hitting $69.39. The stock had a trading volume of 69,807 shares, compared to its average volume of 122,528. Navigators Group has a fifty-two week low of $45.80 and a fifty-two week high of $71.45. The stock has a market capitalization of $2.07 billion, a PE ratio of 38.13 and a beta of 0.56. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.41 and a current ratio of 0.41.

Navigators Group (NASDAQ:NAVG) last released its earnings results on Wednesday, August 8th. The insurance provider reported $0.92 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.23. Navigators Group had a net margin of 4.44% and a return on equity of 4.52%. The company had revenue of $358.24 million during the quarter, compared to analysts’ expectations of $356.13 million. Equities analysts forecast that Navigators Group will post 3.35 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Arizona State Retirement System lifted its stake in shares of Navigators Group by 2.5% in the third quarter. Arizona State Retirement System now owns 33,681 shares of the insurance provider’s stock valued at $2,327,000 after purchasing an additional 807 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Navigators Group by 2.4% in the third quarter. Wells Fargo & Company MN now owns 39,545 shares of the insurance provider’s stock valued at $2,733,000 after purchasing an additional 941 shares during the period. Stanley Laman Group Ltd. lifted its stake in shares of Navigators Group by 12.8% in the second quarter. Stanley Laman Group Ltd. now owns 9,997 shares of the insurance provider’s stock valued at $570,000 after purchasing an additional 1,131 shares during the period. Legal & General Group Plc lifted its stake in shares of 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 purchasing an additional 1,197 shares during the period. Finally, Xact Kapitalforvaltning AB lifted its stake in shares of Navigators Group by 32.9% in the third quarter. Xact Kapitalforvaltning AB now owns 5,651 shares of the insurance provider’s stock valued at $390,000 after purchasing an additional 1,400 shares during the period. Hedge funds and other institutional investors own 74.41% of the company’s stock.

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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