The Navigators Group, Inc. (NAVG) Expected to Post Earnings of -$0.62 Per Share
Analysts expect that The Navigators Group, Inc. (NASDAQ:NAVG) will announce ($0.62) earnings per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for The Navigators Group’s earnings. The Navigators Group posted earnings per share of $0.70 in the same quarter last year, which would suggest a negative year-over-year growth rate of 188.6%. The business is expected to report its next earnings results after the market closes on Thursday, November 2nd.
Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that follow The Navigators Group.
The Navigators Group (NASDAQ:NAVG) last issued its earnings results on Thursday, August 3rd. The insurance provider reported $0.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.08. The firm had revenue of $293.80 million for the quarter, compared to analyst estimates 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 was up 9.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.54 earnings per share.
A number of equities analysts recently commented on NAVG shares. Zacks Investment Research cut The Navigators Group from a “buy” rating to a “hold” rating in a report on Saturday, September 2nd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $55.00 target price on shares of The Navigators Group in a report on Thursday, September 21st. Boenning Scattergood started coverage on The Navigators Group in a report on Wednesday, June 28th. They issued a “neutral” rating on the stock. Finally, BidaskClub raised The Navigators Group from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $59.33.
In other The Navigators Group news, SVP R Scott Eisdorfer sold 10,985 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $56.33, for a total transaction of $618,785.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Patricia H. Roberts purchased 1,355 shares of the firm’s stock in a transaction 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 completion of the acquisition, the director now owns 3,951 shares of the company’s stock, valued at $218,450.79. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 20,000 shares of company stock worth $1,123,880. Insiders own 24.10% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. BlackRock Inc. raised its holdings in The Navigators Group by 94,039.4% during the first quarter. BlackRock Inc. now owns 2,766,756 shares of the insurance provider’s stock valued at $150,236,000 after acquiring an additional 2,763,817 shares during the period. Dimensional Fund Advisors LP raised its holdings in The Navigators Group by 0.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,474,566 shares of the insurance provider’s stock valued at $135,854,000 after acquiring an additional 16,162 shares during the period. Vanguard Group Inc. raised its holdings in The Navigators Group by 3.9% during the second quarter. Vanguard Group Inc. now owns 2,246,404 shares of the insurance provider’s stock valued at $123,328,000 after acquiring an additional 83,530 shares during the period. Northern Trust Corp raised its holdings in The Navigators Group by 1.7% during the second quarter. Northern Trust Corp now owns 991,692 shares of the insurance provider’s stock valued at $54,444,000 after acquiring an additional 16,343 shares during the period. Finally, Atlanta Capital Management Co. L L C raised its holdings in The Navigators Group by 17.1% during the second quarter. Atlanta Capital Management Co. L L C now owns 662,360 shares of the insurance provider’s stock valued at $36,364,000 after acquiring an additional 96,839 shares during the period. 73.91% of the stock is currently owned by institutional investors and hedge funds.
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Shares of The Navigators Group (NASDAQ:NAVG) opened at 58.40 on Friday. The firm has a 50 day moving average price of $57.08 and a 200 day moving average price of $54.83. The Navigators Group has a 52 week low of $45.38 and a 52 week high of $62.04. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of 20.64 and a beta of 0.79.
About The 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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