The Navigators Group, Inc. (NAVG) Releases Earnings Results
The Navigators Group, Inc. (NASDAQ:NAVG) issued its earnings results on Thursday. The insurance provider reported ($1.00) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.63) by ($0.37), Bloomberg Earnings reports. The business had revenue of $326.47 million during 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 2.33%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.40 EPS.
The Navigators Group (NASDAQ NAVG) traded down $7.10 during midday trading on Friday, hitting $51.40. The company had a trading volume of 297,909 shares, compared to its average volume of 57,187. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of 63.53 and a beta of 0.84.
A number of equities research analysts have weighed in on NAVG shares. Boenning Scattergood reaffirmed a “hold” rating on shares of The Navigators Group in a report on Friday, August 4th. Zacks Investment Research raised The Navigators Group from a “hold” rating to a “strong-buy” rating and set a $65.00 target price on the stock in a report on Wednesday, August 9th. BidaskClub raised The Navigators Group from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. Finally, 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. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $59.67.
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In other The Navigators Group news, Director Patricia H. Roberts acquired 1,355 shares of The Navigators Group stock in a transaction on Friday, August 18th. The shares were bought at an average price of $55.29 per share, with a total value of $74,917.95. Following the completion of the purchase, 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 hyperlink. Also, SVP R Scott Eisdorfer sold 10,985 shares of the business’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $56.33, for a total value of $618,785.05. The disclosure for this sale can be found here. In the last three months, insiders sold 20,000 shares of company stock worth $1,123,880. Insiders own 24.10% of the company’s stock.
The Navigators Group Company 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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