Arizona State Retirement System increased its stake in shares of Navigators Group Inc (NASDAQ:NAVG) by 224.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,686 shares of the insurance provider’s stock after acquiring an additional 26,082 shares during the period. Arizona State Retirement System owned about 0.13% of Navigators Group worth $1,835,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of NAVG. Advisory Research Inc. raised its holdings in shares of Navigators Group by 29.5% during the fourth quarter. Advisory Research Inc. now owns 1,001,568 shares of the insurance provider’s stock worth $48,776,000 after acquiring an additional 228,065 shares during the period. Wells Fargo & Company MN increased its stake in Navigators Group by 531.3% in the 3rd quarter. Wells Fargo & Company MN now owns 118,616 shares of the insurance provider’s stock valued at $6,922,000 after buying an additional 99,826 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in Navigators Group in the 4th quarter valued at $2,702,000. Comerica Bank increased its stake in Navigators Group by 20.7% in the 4th quarter. Comerica Bank now owns 227,044 shares of the insurance provider’s stock valued at $11,091,000 after buying an additional 38,887 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in Navigators Group by 18.4% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 117,870 shares of the insurance provider’s stock valued at $6,878,000 after buying an additional 18,282 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.
NAVG has been the topic of several recent research reports. Sandler O’Neill upgraded shares of Navigators Group from a “hold” rating to a “buy” rating in a research note on Thursday, December 7th. Zacks Investment Research upgraded shares of Navigators Group from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research note on Wednesday, January 3rd. Boenning Scattergood reiterated a “hold” rating on shares of Navigators Group in a research note on Friday, February 16th. BidaskClub upgraded shares of Navigators Group from a “sell” rating to a “hold” rating in a research note on Saturday, February 17th. Finally, ValuEngine lowered shares of Navigators Group from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Three equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. The stock has an average rating of “Hold” and a consensus target price of $57.00.
Shares of Navigators Group Inc (NASDAQ:NAVG) opened at $58.35 on Tuesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.39 and a quick ratio of 0.39. Navigators Group Inc has a 52 week low of $45.80 and a 52 week high of $60.35. The stock has a market cap of $1,720.00, a price-to-earnings ratio of 29.47 and a beta of 0.57.
Navigators Group (NASDAQ:NAVG) last issued its quarterly earnings results on Thursday, February 15th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.22. The firm had revenue of $305.10 million for the quarter, compared to analyst estimates of $314.59 million. Navigators Group had a net margin of 3.08% and a return on equity of 2.85%. The company’s revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.71 EPS. equities research analysts anticipate that Navigators Group Inc will post 2.8 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 23rd. Stockholders of record on Friday, March 2nd will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, March 1st. This is a positive change from Navigators Group’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a dividend yield of 0.48%. Navigators Group’s payout ratio is currently 14.14%.
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Navigators Group 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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