Bank of New York Mellon Corp lessened its stake in The Navigators Group, Inc. (NASDAQ:NAVG) by 6.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 489,211 shares of the insurance provider’s stock after selling 31,022 shares during the quarter. Bank of New York Mellon Corp owned 1.66% of The Navigators Group worth $26,858,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in NAVG. BlackRock Inc. boosted its holdings in shares of The Navigators Group by 94,039.4% in the first quarter. BlackRock Inc. now owns 2,766,756 shares of the insurance provider’s stock valued at $150,236,000 after buying an additional 2,763,817 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of The Navigators Group by 99.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,458,404 shares of the insurance provider’s stock valued at $133,491,000 after buying an additional 1,227,194 shares during the period. Vanguard Group Inc. boosted its holdings in shares of The Navigators Group by 113.4% in the first quarter. Vanguard Group Inc. now owns 2,162,874 shares of the insurance provider’s stock valued at $117,444,000 after buying an additional 1,149,369 shares during the period. Champlain Investment Partners LLC boosted its holdings in shares of The Navigators Group by 129.7% in the first quarter. Champlain Investment Partners LLC now owns 1,069,640 shares of the insurance provider’s stock valued at $58,081,000 after buying an additional 603,990 shares during the period. Finally, Frontier Capital Management Co. LLC boosted its holdings in shares of The Navigators Group by 69.0% in the first quarter. Frontier Capital Management Co. LLC now owns 979,219 shares of the insurance provider’s stock valued at $53,172,000 after buying an additional 399,693 shares during the period. Institutional investors own 73.93% of the company’s stock.

Several research analysts have recently weighed in on NAVG shares. Sidoti started coverage on shares of The Navigators Group in a report on Thursday, June 22nd. They issued a “neutral” rating and a $58.00 price target for the company. Zacks Investment Research lowered shares of The Navigators Group from a “buy” rating to a “hold” rating in a research report on Saturday, September 2nd. Boenning Scattergood assumed coverage on shares of The Navigators Group in a research report on Wednesday, June 28th. They issued a “neutral” rating on the stock. BidaskClub raised shares of The Navigators Group from a “hold” rating to a “buy” rating in a research report on Wednesday, August 23rd. Finally, ValuEngine lowered shares of The Navigators Group from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $58.50.

Shares of The Navigators Group, Inc. (NASDAQ:NAVG) opened at 56.25 on Wednesday. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 19.88 and a beta of 0.78. The firm’s 50-day moving average is $55.82 and its 200 day moving average is $54.29. The Navigators Group, Inc. has a 52-week low of $45.38 and a 52-week high of $62.04.

The Navigators Group (NASDAQ:NAVG) last released its earnings results on Thursday, August 3rd. The insurance provider reported $0.66 EPS for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.08. The company had revenue of $293.80 million for the quarter, compared to analysts’ expectations of $297.82 million. The Navigators Group had a return on equity of 6.53% and a net margin of 6.86%. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.54 EPS. On average, equities research analysts anticipate that The Navigators Group, Inc. will post $2.56 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Thursday, August 24th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Tuesday, August 22nd. The Navigators Group’s payout ratio is 8.48%.

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In other news, Director Patricia H. Roberts acquired 1,355 shares of the stock in a transaction that occurred on Friday, August 18th. The shares were acquired at an average cost of $55.29 per share, for a total transaction of $74,917.95. Following the purchase, the director now owns 3,951 shares of the company’s stock, valued at approximately $218,450.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP R Scott Eisdorfer sold 2,200 shares of the business’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $55.82, for a total value of $122,804.00. The disclosure for this sale can be found here. Insiders have sold a total of 20,000 shares of company stock worth $1,123,880 over the last quarter. Company insiders own 24.10% of the company’s stock.

The Navigators Group Profile

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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Institutional Ownership by Quarter for The Navigators Group (NASDAQ:NAVG)

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