GABELLI & Co INVESTMENT ADVISERS INC. Purchases New Holdings in Navigators Group Inc (NAVG)

GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in Navigators Group Inc (NASDAQ:NAVG) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 41,047 shares of the insurance provider’s stock, valued at approximately $2,836,000. GABELLI & Co INVESTMENT ADVISERS INC. owned approximately 0.14% of Navigators Group as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of the company. Federated Investors Inc. PA bought a new position in shares of Navigators Group during the 2nd quarter worth approximately $209,000. Gagnon Securities LLC bought a new position in shares of Navigators Group during the 2nd quarter worth approximately $9,699,000. Martingale Asset Management L P raised its stake in shares of Navigators Group by 30.3% during the 2nd quarter. Martingale Asset Management L P now owns 78,829 shares of the insurance provider’s stock worth $4,494,000 after acquiring an additional 18,321 shares in the last quarter. Stevens Capital Management LP bought a new position in shares of Navigators Group during the 2nd quarter worth approximately $321,000. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Navigators Group by 7.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 112,099 shares of the insurance provider’s stock worth $6,390,000 after acquiring an additional 7,619 shares in the last quarter. Institutional investors and hedge funds own 74.50% of the company’s stock.

NASDAQ NAVG opened at $69.20 on Tuesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.41 and a quick ratio of 0.41. The company has a market cap of $2.07 billion, a P/E ratio of 59.66 and a beta of 0.56. Navigators Group Inc has a 52 week low of $45.80 and a 52 week high of $71.45.

Navigators Group (NASDAQ:NAVG) last issued its quarterly earnings results on Wednesday, August 8th. The insurance provider reported $0.92 earnings per share (EPS) for the quarter, beating the Zacks’ 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 business had revenue of $358.24 million for the quarter, compared to analyst estimates of $356.13 million. Research analysts forecast that Navigators Group Inc will post 3.35 earnings per share for the current fiscal year.

NAVG has been the subject of several recent analyst reports. BidaskClub lowered shares of Navigators Group from a “strong-buy” rating to a “buy” rating in a research note on Friday. Sandler O’Neill upgraded shares of Navigators Group from a “hold” rating to a “buy” rating in a research note on Tuesday, August 14th. Keefe, Bruyette & Woods set a $62.00 price objective on shares of Navigators Group and gave the stock a “hold” rating in a research note on Thursday, August 9th. Zacks Investment Research lowered shares of Navigators Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 10th. Finally, ValuEngine lowered shares of Navigators Group from a “buy” rating to a “hold” rating in a research note on Tuesday, September 4th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $65.67.

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Navigators Group Company Profile

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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Institutional Ownership by Quarter for Navigators Group (NASDAQ:NAVG)

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