California Public Employees Retirement System lifted its position in Navigators Group Inc (NASDAQ:NAVG) by 5.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 73,561 shares of the insurance provider’s stock after purchasing an additional 3,982 shares during the quarter. California Public Employees Retirement System owned approximately 0.25% of Navigators Group worth $3,582,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Teacher Retirement System of Texas acquired a new stake in shares of Navigators Group in the 4th quarter valued at about $393,000. Comerica Bank boosted its position in shares of Navigators Group by 20.7% in the 4th quarter. Comerica Bank now owns 227,044 shares of the insurance provider’s stock valued at $11,091,000 after purchasing an additional 38,887 shares during the period. Boston Partners boosted its position in shares of Navigators Group by 2.1% in the 4th quarter. Boston Partners now owns 275,220 shares of the insurance provider’s stock valued at $13,403,000 after purchasing an additional 5,594 shares during the period. Moody Aldrich Partners LLC boosted its position in shares of Navigators Group by 23.3% in the 4th quarter. Moody Aldrich Partners LLC now owns 26,494 shares of the insurance provider’s stock valued at $1,290,000 after purchasing an additional 5,008 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Navigators Group in the 4th quarter valued at about $2,702,000. 76.43% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently issued reports on NAVG. Sandler O’Neill cut Navigators Group from a “buy” rating to a “hold” rating in a research report on Tuesday, February 20th. They noted that the move was a valuation call. BidaskClub raised Navigators Group from a “strong sell” rating to a “sell” rating in a research report on Monday, February 5th. ValuEngine cut Navigators Group from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Zacks Investment Research raised Navigators Group from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Wednesday, January 3rd. Finally, Keefe, Bruyette & Woods reaffirmed a “sell” rating on shares of Navigators Group in a research report on Thursday, December 21st. Three research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $57.00.
In other Navigators Group news, insider Carl L. Bach III sold 2,000 shares of the 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 24.10% of the stock is currently owned by company insiders.
Shares of Navigators Group Inc (NAVG) opened at $58.15 on Friday. Navigators Group Inc has a 1 year low of $45.80 and a 1 year high of $60.35. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.39 and a current ratio of 0.39. The firm has a market capitalization of $1,698.05, a P/E ratio of 50.00 and a beta of 0.57.
Navigators Group (NASDAQ:NAVG) last posted its quarterly earnings data on Thursday, February 15th. The insurance provider reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.22. Navigators Group had a return on equity of 2.85% and a net margin of 3.08%. The company had revenue of $305.10 million during the quarter, compared to analysts’ expectations of $314.59 million. During the same period last year, the firm earned $0.71 EPS. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. equities analysts predict that Navigators Group Inc will post 2.8 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 23rd. Shareholders of record on Friday, March 2nd will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.48%. This is a boost from Navigators Group’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Thursday, March 1st. Navigators Group’s dividend payout ratio (DPR) is presently 21.05%.
ILLEGAL ACTIVITY NOTICE: “Navigators Group Inc (NAVG) Shares Bought by California Public Employees Retirement System” was originally reported by The Lincolnian Online and is owned by of The Lincolnian Online. If you are viewing this piece of content on another publication, it was illegally stolen and republished in violation of international trademark and copyright legislation. The correct version of this piece of content can be accessed at https://www.thelincolnianonline.com/2018/03/17/navigators-group-inc-navg-shares-bought-by-california-public-employees-retirement-system.html.
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.
Want to see what other hedge funds are holding NAVG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Navigators Group Inc (NASDAQ:NAVG).
Receive News & Ratings for Navigators Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Navigators Group and related companies with MarketBeat.com's FREE daily email newsletter.