Equities analysts expect Navigators Group Inc (NASDAQ:NAVG) to post $344.53 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Navigators Group’s earnings, with the highest sales estimate coming in at $344.75 million and the lowest estimate coming in at $344.30 million. Navigators Group posted sales of $308.65 million in the same quarter last year, which suggests a positive year-over-year growth rate of 11.6%. The business is expected to report its next quarterly earnings results on Thursday, May 3rd.
According to Zacks, analysts expect that Navigators Group will report full-year sales of $344.53 million for the current year, with estimates ranging from $1.40 billion to $1.42 billion. For the next fiscal year, analysts forecast that the company will report sales of $1.47 billion per share, with estimates ranging from $1.45 billion to $1.49 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Navigators Group.
Navigators Group (NASDAQ:NAVG) last issued its earnings results on Thursday, February 15th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.22. The company had revenue of $305.10 million for the quarter, compared to the consensus estimate of $314.59 million. Navigators Group had a return on equity of 2.85% and a net margin of 3.08%. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the company earned $0.71 EPS.
Several equities analysts have weighed in on the company. Zacks Investment Research cut Navigators Group from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. ValuEngine cut Navigators Group from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Keefe, Bruyette & Woods restated a “sell” rating and set a $52.00 price target on shares of Navigators Group in a report on Friday, February 23rd. BidaskClub cut Navigators Group from a “sell” rating to a “strong sell” rating 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 investment analysts have rated the stock with a sell rating and four have given a hold rating to the stock. The company has an average rating of “Hold” and a consensus target price of $57.00.
Shares of NAVG stock opened at $56.20 on Friday. The stock has a market capitalization of $1,715.77, a P/E ratio of 42.26 and a beta of 0.57. Navigators Group has a 12 month low of $45.80 and a 12 month 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 company also recently declared a quarterly dividend, which was paid on Friday, March 23rd. Shareholders of record on Friday, March 2nd were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend was Thursday, March 1st. This is a boost from Navigators Group’s previous quarterly dividend of $0.06. Navigators Group’s dividend payout ratio (DPR) is currently 21.05%.
In other Navigators Group news, insider Carl L. Bach III sold 2,000 shares of the firm’s 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 is available at this link. Company insiders own 24.10% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Advisory Research Inc. grew its holdings in Navigators Group by 29.5% during the 4th quarter. Advisory Research Inc. now owns 1,001,568 shares of the insurance provider’s stock valued at $48,776,000 after buying an additional 228,065 shares in the last quarter. Prudential Financial Inc. boosted its holdings in shares of Navigators Group by 9.3% in the 3rd quarter. Prudential Financial Inc. now owns 51,982 shares of the insurance provider’s stock worth $3,033,000 after purchasing an additional 4,440 shares during the period. Municipal Employees Retirement System of Michigan boosted its holdings in shares of Navigators Group by 41.3% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 10,640 shares of the insurance provider’s stock worth $621,000 after purchasing an additional 3,110 shares during the period. Crossmark Global Holdings Inc. purchased a new position in shares of Navigators Group in the 3rd quarter worth approximately $364,000. Finally, Legal & General Group Plc boosted its holdings in shares of Navigators Group by 6.9% in the 3rd quarter. Legal & General Group Plc now owns 45,534 shares of the insurance provider’s stock worth $2,656,000 after purchasing an additional 2,938 shares during the period. Institutional investors and hedge funds own 76.44% of the company’s stock.
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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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