Navigators Group (NASDAQ:NAVG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “The Navigators Group, Inc. is a holding company with twelve active wholly owned subsidiaries. They primarily write marine, onshore energy, engineering and construction insurance, and a contractors’ general liability program. As underwritten by Navigators, marine insurance includes hull, energy, liability and cargo; onshore energy primarily covers property damage with an emphasis on the oil and petrochemical sectors; and engineering and construction primarily covers construction projects including machinery, equipment and loss of use due to delays. “
A number of other brokerages have also recently commented on NAVG. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $56.00 target price on shares of Navigators Group in a report on Monday, October 16th. ValuEngine cut shares of Navigators Group from a “hold” rating to a “sell” rating in a report on Friday, November 10th. Boenning Scattergood reaffirmed a “hold” rating on shares of Navigators Group in a report on Monday, November 6th. BidaskClub cut shares of Navigators Group from a “sell” rating to a “strong sell” rating in a report on Thursday, December 21st. Finally, Sandler O’Neill raised shares of Navigators Group from a “hold” rating to a “buy” rating in a report on Thursday, December 7th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Navigators Group has an average rating of “Hold” and an average price target of $52.67.
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 the consensus estimate of ($0.63) by ($0.37). The company had revenue of $326.47 million for the quarter, compared to analysts’ expectations of $307.12 million. Navigators Group had a return on equity of 2.32% and a net margin of 2.79%. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.40 EPS. research analysts expect that Navigators Group will post 0.93 earnings per share for the current fiscal year.
Several institutional investors have recently made changes to their positions in the company. Reinhart Partners Inc. increased its holdings in shares of Navigators Group by 28.1% in the 4th quarter. Reinhart Partners Inc. now owns 68,704 shares of the insurance provider’s stock valued at $3,346,000 after acquiring an additional 15,080 shares during the period. Mitsubishi UFJ Asset Management UK Ltd. increased its holdings in shares of Navigators Group by 25.0% in the 4th quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 25,000 shares of the insurance provider’s stock valued at $1,217,000 after acquiring an additional 5,000 shares during the period. Bank of Montreal Can increased its stake in Navigators Group by 30.5% in the 4th quarter. Bank of Montreal Can now owns 4,585 shares of the insurance provider’s stock valued at $223,000 after buying an additional 1,071 shares during the period. Cubist Systematic Strategies LLC acquired a new position in Navigators Group in the 3rd quarter valued at $204,000. Finally, Dimensional Fund Advisors LP increased its stake in Navigators Group by 0.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,482,875 shares of the insurance provider’s stock valued at $144,876,000 after buying an additional 8,309 shares during the period. 73.96% of the stock is currently owned by institutional investors and hedge funds.
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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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