The Navigators Group Inc. (NAVG) Shares Gap Up to $93.96
The Navigators Group Inc. (NASDAQ:NAVG)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $93.72, but opened at $93.96. The Navigators Group shares last traded at $95.06, with a volume of 19,487 shares.
Several equities analysts have weighed in on NAVG shares. Keefe, Bruyette & Woods lifted their price objective on shares of The Navigators Group from $82.00 to $86.00 and gave the stock a “market perform” rating in a research report on Friday, May 27th. Zacks Investment Research upgraded shares of The Navigators Group from a “sell” rating to a “hold” rating in a research report on Wednesday, June 22nd.
The company has a market cap of $1.38 billion, a price-to-earnings ratio of 18.82 and a beta of 0.55. The company’s 50-day moving average is $93.09 and its 200-day moving average is $88.64.
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The Navigators Group (NASDAQ:NAVG) last announced its earnings results on Thursday, August 4th. The company reported $0.81 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.02. The Navigators Group had a net margin of 6.69% and a return on equity of 6.45%. The company had revenue of $267.90 million for the quarter, compared to analyst estimates of $270.31 million. During the same period in the prior year, the business earned $1.34 earnings per share. The Navigators Group’s quarterly revenue was up 10.6% on a year-over-year basis. On average, equities analysts predict that The Navigators Group Inc. will post $4.74 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, August 19th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, August 17th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.38%. The Navigators Group’s payout ratio is 7.14%.
In related news, SVP R Scott Eisdorfer sold 2,760 shares of the stock in a transaction that occurred on 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 document filed with the SEC, which can be accessed through this link. Insiders own 24.20% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Glenmede Trust Co. NA raised its position in shares of The Navigators Group by 37.7% in the second quarter. Glenmede Trust Co. NA now owns 1,162 shares of the company’s stock valued at $106,000 after buying an additional 318 shares in the last quarter. PineBridge Investments L.P. raised its position in shares of The Navigators Group by 4.5% in the second quarter. PineBridge Investments L.P. now owns 1,401 shares of the company’s stock valued at $128,000 after buying an additional 60 shares in the last quarter. Societe Generale acquired a new position in shares of The Navigators Group during the second quarter valued at $135,000. SG Americas Securities LLC acquired a new position in shares of The Navigators Group during the second quarter valued at $135,000. Finally, Teacher Retirement System of Texas raised its position in shares of The Navigators Group by 14.4% in the second quarter. Teacher Retirement System of Texas now owns 1,617 shares of the company’s stock valued at $149,000 after buying an additional 203 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.
The Navigators Group Company Profile
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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