The Navigators Group Inc. (NAVG) Raised to Hold at Zacks Investment Research
The Navigators Group Inc. (NASDAQ:NAVG) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
According to Zacks, “The Navigators Group, Inc. is a holding company with twelve active wholly owned subsidiaries. They primarily write marine, onshore energy, engineering and construction insurance, and a contractors’ general liability program. As underwritten by Navigators, marine insurance includes hull, energy, liability and cargo; onshore energy primarily covers property damage with an emphasis on the oil and petrochemical sectors; and engineering and construction primarily covers construction projects including machinery, equipment and loss of use due to delays. “
Shares of The Navigators Group (NASDAQ:NAVG) opened at 97.92 on Thursday. The company’s 50-day moving average is $94.50 and its 200-day moving average is $89.68. The company has a market cap of $1.43 billion, a price-to-earnings ratio of 19.45 and a beta of 0.54. The Navigators Group has a one year low of $74.74 and a one year high of $98.99.
The Navigators Group (NASDAQ:NAVG) last issued its earnings results on Thursday, August 4th. The company reported $0.81 EPS for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.02. The business earned $267.90 million during the quarter, compared to analysts’ expectations of $270.31 million. The Navigators Group had a net margin of 6.69% and a return on equity of 6.45%. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.34 earnings per share. On average, equities analysts predict that The Navigators Group will post $4.74 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, August 19th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date was Wednesday, August 17th. The Navigators Group’s dividend payout ratio (DPR) is 7.14%.
In other news, SVP R Scott Eisdorfer sold 2,760 shares of the stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $92.44, for a total value of $255,134.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 24.20% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the stock. Atlanta Capital Management Co. L L C boosted its stake in shares of The Navigators Group by 43.1% in the second quarter. Atlanta Capital Management Co. L L C now owns 236,261 shares of the company’s stock worth $21,729,000 after buying an additional 71,112 shares during the period. BlackRock Fund Advisors boosted its stake in shares of The Navigators Group by 6.4% in the second quarter. BlackRock Fund Advisors now owns 728,858 shares of the company’s stock worth $67,033,000 after buying an additional 44,074 shares during the period. Emerald Acquisition Ltd. acquired a new stake in shares of The Navigators Group during the second quarter worth approximately $4,008,000. Vanguard Group Inc. boosted its stake in shares of The Navigators Group by 4.6% in the second quarter. Vanguard Group Inc. now owns 925,533 shares of the company’s stock worth $85,121,000 after buying an additional 40,563 shares during the period. Finally, Advisory Research Inc. boosted its stake in shares of The Navigators Group by 17.8% in the second quarter. Advisory Research Inc. now owns 216,562 shares of the company’s stock worth $19,917,000 after buying an additional 32,685 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.
About The Navigators Group
The Navigators Group, Inc is a holding company. The Company is an international insurance company focused on marine insurance. The Company’s segments are 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 Primary and Excess Casualty divisions.
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