Sandler O’Neill reissued their hold rating on shares of Navigators Group (NASDAQ:NAVG) in a research report report published on Friday, February 16th, Marketbeat reports. The firm currently has a $60.00 price target on the insurance provider’s stock.
NAVG has been the subject of several other research reports. BidaskClub upgraded shares of Navigators Group from a strong sell rating to a sell rating in a report on Monday, February 5th. ValuEngine downgraded shares of Navigators Group from a hold rating to a sell rating in a report on Friday, February 2nd. Zacks Investment Research upgraded shares of Navigators Group from a hold rating to a buy rating and set a $55.00 price objective for the company in a report on Wednesday, January 3rd. Keefe, Bruyette & Woods restated a sell rating on shares of Navigators Group in a report on Thursday, December 21st. Finally, Boenning Scattergood restated a hold rating on shares of Navigators Group in a report on Friday, February 16th. Three analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Navigators Group presently has a consensus rating of Hold and a consensus price target of $57.00.
Shares of Navigators Group (NASDAQ:NAVG) traded down $0.70 during mid-day trading on Friday, hitting $57.50. 103,369 shares of the stock traded hands, compared to its average volume of 103,495. The stock has a market capitalization of $1,723.16, a P/E ratio of 50.74 and a beta of 0.57. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.39 and a current ratio of 0.39. Navigators Group has a 52 week low of $45.80 and a 52 week high of $60.35.
Navigators Group (NASDAQ:NAVG) last announced its earnings results on Thursday, February 15th. The insurance provider reported $0.81 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.22. The company had revenue of $305.10 million during the quarter, compared to the consensus estimate of $314.59 million. Navigators Group had a net margin of 3.08% and a return on equity of 2.85%. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.71 earnings per share. equities research analysts predict that Navigators Group will post 2.8 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 23rd. Investors of record on Friday, March 2nd will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date is Thursday, March 1st. This is an increase from Navigators Group’s previous quarterly dividend of $0.06. Navigators Group’s dividend payout ratio (DPR) is 21.05%.
In related news, insider Carl L. Bach III sold 2,000 shares of the firm’s stock in a transaction dated Thursday, March 8th. The shares were sold at an average price of $56.51, for a total transaction of $113,020.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 24.10% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sei Investments Co. boosted its position in Navigators Group by 2,600.0% during the third quarter. Sei Investments Co. now owns 2,268 shares of the insurance provider’s stock worth $132,000 after purchasing an additional 2,184 shares during the period. Cubist Systematic Strategies LLC bought a new position in Navigators Group during the third quarter worth about $204,000. BlueCrest Capital Management Ltd bought a new position in Navigators Group during the second quarter worth about $241,000. Bank of Montreal Can boosted its position in 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 purchasing an additional 1,071 shares during the period. Finally, Piedmont Investment Advisors LLC bought a new position in Navigators Group during the second quarter worth about $266,000. Institutional investors and hedge funds own 76.43% of the company’s stock.
About Navigators Group
The Navigators Group, Inc is an insurance holding company. The Company is an international insurance company focused on marine insurance. The Company’s segments include U.S. Insurance, International Insurance (Int’l Insurance), Global Reinsurance (GlobalRe) and Corporate. The Company’s Property and Casualty (P&C) insurance business primarily offers general liability coverage, and umbrella and excess liability coverage to commercial enterprises through its U.S.
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