The Navigators Group, Inc. (NAVG) Receives “Hold” Rating from Boenning Scattergood
The Navigators Group, Inc. (NASDAQ:NAVG)‘s stock had its “hold” rating reiterated by analysts at Boenning Scattergood in a research report issued to clients and investors on Friday.
The analysts wrote, “We also expected two points of catastrophe losses; the earnings release did not mention catastrophe losses for the quarter.””
A number of other research firms have also recently commented on NAVG. Sidoti initiated coverage on The Navigators Group in a research report on Thursday, June 22nd. They set a “neutral” rating and a $58.00 price objective for the company. Zacks Investment Research upgraded The Navigators Group from a “sell” rating to a “hold” rating in a research report on Wednesday, April 19th. Finally, ValuEngine cut The Navigators Group from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $56.75.
Shares of The Navigators Group (NASDAQ:NAVG) traded up 0.53% during midday trading on Friday, hitting $56.60. 68,001 shares of the company were exchanged. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of 21.11 and a beta of 0.77. The Navigators Group has a 52-week low of $45.17 and a 52-week high of $62.04. The company has a 50-day moving average price of $54.91 and a 200-day moving average price of $56.06.
The Navigators Group (NASDAQ:NAVG) last posted its quarterly earnings data on Thursday, August 3rd. The insurance provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.08. The firm had revenue of $293.80 million during the quarter, compared to analysts’ expectations of $297.82 million. The Navigators Group had a return on equity of 6.60% and a net margin of 6.86%. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.54 EPS. On average, analysts forecast that The Navigators Group will post $2.48 EPS for the current year.
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In related news, CEO Stanley A. Galanski sold 25,000 shares of The Navigators Group stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $54.12, for a total transaction of $1,353,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Colin Sprott sold 10,000 shares of The Navigators Group stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $52.73, for a total value of $527,300.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,000 shares of company stock valued at $2,933,900. 24.10% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the company. BlackRock Inc. boosted its stake in 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 stake in 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 stake in 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. Diamond Hill Capital Management Inc. boosted its stake in The Navigators Group by 94.4% in the first quarter. Diamond Hill Capital Management Inc. now owns 1,533,060 shares of the insurance provider’s stock valued at $83,245,000 after buying an additional 744,454 shares during the period. Finally, Champlain Investment Partners LLC boosted its stake in 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. Hedge funds and other institutional investors own 73.05% of the company’s stock.
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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