The Navigators Group, Inc. (NAVG) Upgraded to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of The Navigators Group, Inc. (NASDAQ:NAVG) from a hold rating to a buy rating in a report issued on Tuesday morning. Zacks Investment Research currently has $64.00 price objective on the insurance provider’s stock.
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. “
A number of other brokerages also recently weighed in on NAVG. Sidoti started coverage on shares of The Navigators Group in a research report on Thursday, June 22nd. They issued a neutral rating and a $58.00 price objective for the company. Boenning Scattergood started coverage on shares of The Navigators Group in a research report on Wednesday, June 28th. They issued a neutral rating for the company. BidaskClub upgraded shares of The Navigators Group from a hold rating to a buy rating in a research report on Wednesday, August 23rd. Keefe, Bruyette & Woods reiterated a hold rating and issued a $55.00 price objective on shares of The Navigators Group in a research report on Thursday, September 21st. Finally, ValuEngine downgraded shares of The Navigators Group from a buy rating to a hold rating in a research report on Friday, June 2nd. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock has an average rating of Hold and an average target price of $59.00.
Shares of The Navigators Group (NASDAQ NAVG) opened at 58.35 on Tuesday. The company has a market capitalization of $1.72 billion, a PE ratio of 20.62 and a beta of 0.78. The Navigators Group has a 12-month low of $45.38 and a 12-month high of $62.04. The firm’s 50-day moving average price is $55.82 and its 200-day moving average price is $54.30.
The Navigators Group (NASDAQ:NAVG) last issued its quarterly earnings data on Thursday, August 3rd. The insurance provider reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.08. The business had revenue of $293.80 million during the quarter, compared to the consensus estimate of $297.82 million. The Navigators Group had a net margin of 6.86% and a return on equity of 6.53%. The company’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.54 earnings per share. On average, analysts expect that The Navigators Group will post $2.59 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 14th. Investors of record on Thursday, August 24th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Tuesday, August 22nd. This represents a $0.24 annualized dividend and a dividend yield of 0.41%. The Navigators Group’s dividend payout ratio (DPR) is presently 8.48%.
In related news, Director Patricia H. Roberts purchased 1,355 shares of The Navigators Group stock in a transaction that occurred on Friday, August 18th. The stock was purchased at an average price of $55.29 per share, for a total transaction of $74,917.95. Following the transaction, the director now directly owns 3,951 shares in the company, valued at $218,450.79. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, SVP R Scott Eisdorfer sold 2,200 shares of the company’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $55.82, for a total transaction of $122,804.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,000 shares of company stock valued at $1,123,880. Insiders own 24.10% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. acquired a new position in shares of The Navigators Group during the 1st quarter worth about $105,000. Bank of Montreal Can raised its position in shares of The Navigators Group by 4.9% during the 2nd quarter. Bank of Montreal Can now owns 2,073 shares of the insurance provider’s stock worth $113,000 after purchasing an additional 97 shares during the last quarter. Huntington National Bank raised its position in shares of The Navigators Group by 29.2% during the 2nd quarter. Huntington National Bank now owns 2,183 shares of the insurance provider’s stock worth $120,000 after purchasing an additional 494 shares during the last quarter. SG Americas Securities LLC raised its position in shares of The Navigators Group by 42.1% during the 1st quarter. SG Americas Securities LLC now owns 2,942 shares of the insurance provider’s stock worth $160,000 after purchasing an additional 871 shares during the last quarter. Finally, Diversified Trust Co acquired a new position in shares of The Navigators Group during the 2nd quarter worth about $200,000. Hedge funds and other institutional investors own 73.91% of the company’s stock.
The Navigators Group Company 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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