C M Bidwell & Associates Ltd. acquired a new position in shares of Navigators Group Inc (NASDAQ:NAVG) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,950 shares of the insurance provider’s stock, valued at approximately $204,000.
Several other institutional investors and hedge funds have also modified their holdings of NAVG. Gagnon Securities LLC bought a new position in shares of Navigators Group in the 2nd quarter valued at $9,699,000. BlackRock Inc. increased its stake in shares of Navigators Group by 11.8% in the 3rd quarter. BlackRock Inc. now owns 3,221,676 shares of the insurance provider’s stock valued at $222,617,000 after purchasing an additional 340,557 shares during the last quarter. Spring Creek Capital LLC increased its stake in shares of Navigators Group by 8,962.8% in the 3rd quarter. Spring Creek Capital LLC now owns 336,048 shares of the insurance provider’s stock valued at $23,221,000 after purchasing an additional 332,340 shares during the last quarter. FIL Ltd bought a new position in shares of Navigators Group in the 3rd quarter valued at $20,357,000. Finally, Millennium Management LLC increased its stake in shares of Navigators Group by 618.3% in the 2nd quarter. Millennium Management LLC now owns 329,199 shares of the insurance provider’s stock valued at $18,764,000 after purchasing an additional 283,368 shares during the last quarter. Institutional investors own 72.52% of the company’s stock.
NASDAQ NAVG opened at $69.41 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.40 and a current ratio of 0.40. Navigators Group Inc has a twelve month low of $45.80 and a twelve month high of $71.45. The firm has a market cap of $2.07 billion, a P/E ratio of 59.84 and a beta of 0.49.
Navigators Group (NASDAQ:NAVG) last released its quarterly earnings data on Wednesday, November 7th. The insurance provider reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.52). Navigators Group had a net margin of 6.54% and a return on equity of 7.27%. The firm had revenue of $374.41 million for the quarter, compared to analyst estimates of $373.96 million. On average, analysts forecast that Navigators Group Inc will post 2.92 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Friday, November 30th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend is Thursday, November 29th. Navigators Group’s dividend payout ratio (DPR) is 24.14%.
Several equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods set a $70.00 price target on Navigators Group and gave the company a “hold” rating in a research note on Wednesday, August 22nd. Boenning Scattergood reiterated a “hold” rating on shares of Navigators Group in a research note on Wednesday, August 22nd. ValuEngine upgraded Navigators Group from a “hold” rating to a “buy” rating in a research note on Thursday, August 23rd. BidaskClub upgraded Navigators Group from a “hold” rating to a “buy” rating in a research note on Tuesday, September 11th. Finally, Zacks Investment Research lowered Navigators Group from a “hold” rating to a “sell” rating in a research note on Friday, November 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. Navigators Group currently has an average rating of “Hold” and an average price target of $65.67.
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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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