Investment Counselors of Maryland LLC Cuts Stake in The Navigators Group, Inc. (NAVG)
Investment Counselors of Maryland LLC trimmed its position in The Navigators Group, Inc. (NASDAQ:NAVG) by 4.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 296,154 shares of the insurance provider’s stock after selling 12,690 shares during the quarter. Investment Counselors of Maryland LLC owned 1,003,911.86% of The Navigators Group worth $17,281,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. Boston Partners raised its holdings in shares of The Navigators Group by 3.5% in the 3rd quarter. Boston Partners now owns 269,626 shares of the insurance provider’s stock worth $15,732,000 after purchasing an additional 9,168 shares during the period. Prudential Financial Inc. raised its holdings in shares of The Navigators Group by 9.3% during the 3rd quarter. Prudential Financial Inc. now owns 51,982 shares of the insurance provider’s stock valued at $3,033,000 after buying an additional 4,440 shares during the period. Frontier Capital Management Co. LLC raised its holdings in shares of The Navigators Group by 2.0% during the 3rd quarter. Frontier Capital Management Co. LLC now owns 997,604 shares of the insurance provider’s stock valued at $58,210,000 after buying an additional 19,110 shares during the period. Westpac Banking Corp purchased a new stake in shares of The Navigators Group during the 3rd quarter valued at about $8,034,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in shares of The Navigators Group during the 3rd quarter valued at about $364,000. Institutional investors own 73.98% of the company’s stock.
Shares of The Navigators Group, Inc. (NAVG) traded down $0.05 during midday trading on Thursday, reaching $51.65. The company’s stock had a trading volume of 1,675 shares, compared to its average volume of 82,717. The Navigators Group, Inc. has a 12-month low of $46.10 and a 12-month high of $62.04. The company has a current ratio of 0.44, a quick ratio of 0.43 and a debt-to-equity ratio of 0.23. The firm has a market cap of $1,513.52, a price-to-earnings ratio of 55.76 and a beta of 0.84.
The Navigators Group (NASDAQ:NAVG) last issued its quarterly earnings data on Thursday, November 2nd. The insurance provider reported ($1.00) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.37). The business had revenue of $326.47 million for the quarter, compared to analyst estimates of $307.12 million. The Navigators Group had a net margin of 2.79% and a return on equity of 2.32%. The Navigators Group’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.40 EPS. equities analysts anticipate that The Navigators Group, Inc. will post 0.93 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 24th will be given a $0.06 dividend. The ex-dividend date is Wednesday, November 22nd. This represents a $0.24 annualized dividend and a dividend yield of 0.46%. The Navigators Group’s payout ratio is 20.87%.
In other news, Director Patricia H. Roberts bought 1,355 shares of the firm’s stock in a transaction dated Friday, August 18th. The stock was bought at an average price of $55.29 per share, for a total transaction of $74,917.95. Following the transaction, the director now owns 3,951 shares in the company, valued at $218,450.79. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP R Scott Eisdorfer sold 3,532 shares of The Navigators Group stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $56.32, for a total value of $198,922.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,000 shares of company stock valued at $1,123,880. Insiders own 24.10% of the company’s stock.
NAVG has been the topic of several analyst reports. Zacks Investment Research downgraded The Navigators Group from a “buy” rating to a “hold” rating in a report on Saturday, September 2nd. Keefe, Bruyette & Woods restated a “hold” rating and set a $55.00 price objective on shares of The Navigators Group in a research note on Thursday, September 21st. Finally, BidaskClub upgraded The Navigators Group from a “hold” rating to a “buy” rating in a research note on Wednesday, August 23rd. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $59.67.
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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