Navigators Group (NASDAQ:NAVG) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “sell” rating in a note issued to investors on Wednesday.
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. “
NAVG has been the topic of several other research reports. Sandler O’Neill lowered Navigators Group from a “buy” rating to a “hold” rating in a research note on Tuesday. They noted that the move was a valuation call. BidaskClub upgraded Navigators Group from a “strong sell” rating to a “sell” rating in a research note on Monday, February 5th. ValuEngine lowered Navigators Group from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Keefe, Bruyette & Woods restated a “sell” rating on shares of Navigators Group in a research note on Thursday, December 21st. Finally, Boenning Scattergood restated a “hold” rating on shares of Navigators Group in a research note on Friday, February 16th. Three research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $55.25.
Navigators Group (NASDAQ NAVG) opened at $54.15 on Wednesday. Navigators Group has a 52 week low of $45.80 and a 52 week high of $60.35. The company has a quick ratio of 0.44, a current ratio of 0.39 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $1,752.49, a PE ratio of 40.71 and a beta of 0.71.
Navigators Group (NASDAQ:NAVG) last posted its 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. Navigators Group had a return on equity of 2.85% and a net margin of 3.08%. The company had revenue of $305.10 million for the quarter, compared to analyst estimates of $314.59 million. During the same quarter in the previous year, the firm earned $0.71 earnings per share. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. equities research analysts expect that Navigators Group will post 2.58 EPS for the current fiscal year.
Several hedge funds have recently modified their holdings of the company. BlackRock Inc. grew its stake in shares of Navigators Group by 3.2% during the fourth quarter. BlackRock Inc. now owns 2,809,115 shares of the insurance provider’s stock worth $136,806,000 after acquiring an additional 87,096 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Navigators Group by 0.3% during the third quarter. Dimensional Fund Advisors LP now owns 2,482,875 shares of the insurance provider’s stock worth $144,876,000 after acquiring an additional 8,309 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Navigators Group by 3.9% during the second quarter. Vanguard Group Inc. now owns 2,246,404 shares of the insurance provider’s stock worth $123,328,000 after acquiring an additional 83,530 shares during the last quarter. Champlain Investment Partners LLC grew its stake in shares of Navigators Group by 19.2% during the fourth quarter. Champlain Investment Partners LLC now owns 1,449,250 shares of the insurance provider’s stock worth $70,578,000 after acquiring an additional 233,075 shares during the last quarter. Finally, Vulcan Value Partners LLC grew its stake in shares of Navigators Group by 19.7% during the fourth quarter. Vulcan Value Partners LLC now owns 1,136,007 shares of the insurance provider’s stock worth $55,324,000 after acquiring an additional 186,852 shares during the last quarter. Institutional investors and hedge funds own 73.99% of the company’s stock.
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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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