Keefe, Bruyette & Woods Reiterates Hold Rating for The Navigators Group, Inc. (NAVG)
The Navigators Group, Inc. (NASDAQ:NAVG)‘s stock had its “hold” rating restated by research analysts at Keefe, Bruyette & Woods in a research report issued to clients and investors on Monday. They presently have a $56.00 target price on the insurance provider’s stock. Keefe, Bruyette & Woods’ price objective points to a potential downside of 4.19% from the stock’s previous close.
A number of other brokerages have also commented on NAVG. Zacks Investment Research raised shares of The Navigators Group from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research report on Tuesday, October 3rd. Boenning Scattergood reaffirmed a “hold” rating on shares of The Navigators Group in a research report on Friday, August 4th. BidaskClub raised shares of The Navigators Group from a “hold” rating to a “buy” rating in a research report on Wednesday, August 23rd. Finally, Sidoti assumed coverage on shares of The Navigators Group in a research report on Thursday, June 22nd. They set a “neutral” rating and a $58.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $59.67.
The Navigators Group (NAVG) traded up 0.09% during mid-day trading on Monday, reaching $58.45. The company’s stock had a trading volume of 49,596 shares. The stock has a market cap of $1.72 billion, a P/E ratio of 20.65 and a beta of 0.79. The firm’s 50 day moving average is $57.08 and its 200-day moving average is $54.84. The Navigators Group has a one year low of $45.38 and a one year high of $62.04.
The Navigators Group (NASDAQ:NAVG) last issued its earnings results on Thursday, August 3rd. The insurance provider reported $0.66 EPS for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.08. The business had revenue of $293.80 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 9.7% compared to the same quarter last year. During the same period last year, the company posted $0.54 earnings per share. Equities analysts expect that The Navigators Group will post $1.38 earnings per share for the current fiscal year.
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In other The Navigators Group news, Director Patricia H. Roberts acquired 1,355 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The shares were bought at an average cost of $55.29 per share, with a total value of $74,917.95. Following the completion of the acquisition, the director now directly owns 3,951 shares in the company, valued at approximately $218,450.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $56.32, for a total transaction of $198,922.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,000 shares of company stock worth $1,123,880. 24.10% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. Ameritas Investment Partners Inc. purchased a new position in The Navigators Group during the first quarter valued at approximately $105,000. Bank of Montreal Can increased its holdings in The Navigators Group by 4.9% during the second quarter. Bank of Montreal Can now owns 2,073 shares of the insurance provider’s stock valued at $113,000 after buying an additional 97 shares during the period. Huntington National Bank increased its holdings in The Navigators Group by 29.2% during the second quarter. Huntington National Bank now owns 2,183 shares of the insurance provider’s stock valued at $120,000 after buying an additional 494 shares during the period. SG Americas Securities LLC increased its holdings in The Navigators Group by 42.1% during the first quarter. SG Americas Securities LLC now owns 2,942 shares of the insurance provider’s stock valued at $160,000 after buying an additional 871 shares during the period. Finally, Diversified Trust Co purchased a new position in The Navigators Group during the second quarter valued at approximately $200,000. 73.91% of the stock is currently owned by institutional investors.
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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