Navigators Group (NAVG) Rating Increased to Buy at BidaskClub

Navigators Group (NASDAQ:NAVG) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Thursday.

A number of other equities analysts have also recently issued reports on the company. Boenning Scattergood reissued a “hold” rating on shares of Navigators Group in a report on Thursday, August 9th. Zacks Investment Research raised Navigators Group from a “hold” rating to a “strong-buy” rating and set a $67.00 target price for the company in a report on Friday, July 20th. Keefe, Bruyette & Woods set a $62.00 target price on Navigators Group and gave the stock a “hold” rating in a report on Thursday, August 9th. Sandler O’Neill cut Navigators Group from a “buy” rating to a “hold” rating in a report on Thursday, September 27th. Finally, ValuEngine raised Navigators Group from a “hold” rating to a “buy” rating in a report on Tuesday, October 2nd. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Navigators Group currently has an average rating of “Hold” and a consensus price target of $65.67.

Shares of NAVG opened at $69.13 on Thursday. Navigators Group has a 1 year low of $45.80 and a 1 year high of $71.45. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $2.06 billion, a PE ratio of 59.59 and a beta of 0.56.

Navigators Group (NASDAQ:NAVG) last issued its earnings results on Wednesday, August 8th. The insurance provider reported $0.92 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.23. Navigators Group had a return on equity of 4.52% and a net margin of 4.44%. The business had revenue of $358.24 million during the quarter, compared to analysts’ expectations of $356.13 million. As a group, equities research analysts expect that Navigators Group will post 3.42 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in Navigators Group by 3.0% during the 2nd quarter. BlackRock Inc. now owns 2,881,119 shares of the insurance provider’s stock valued at $164,223,000 after purchasing an additional 83,532 shares in the last quarter. Gagnon Securities LLC acquired a new stake in Navigators Group during the 2nd quarter valued at $9,699,000. Renaissance Technologies LLC increased its holdings in Navigators Group by 22.1% during the 2nd quarter. Renaissance Technologies LLC now owns 548,892 shares of the insurance provider’s stock valued at $31,287,000 after purchasing an additional 99,492 shares in the last quarter. Millennium Management LLC increased its holdings in Navigators Group by 618.3% during 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 in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Navigators Group by 2.0% during the 1st quarter. Principal Financial Group Inc. now owns 172,024 shares of the insurance provider’s stock valued at $9,917,000 after purchasing an additional 3,345 shares in the last quarter. 74.30% of the stock is owned by hedge funds and other institutional investors.

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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