Zacks Investment Research downgraded shares of Navigators Group (NASDAQ:NAVG) from a hold rating to a sell rating in a report released on Friday.
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. “
Several other equities research analysts have also recently weighed in on NAVG. BidaskClub cut shares of Navigators Group from a strong-buy rating to a buy rating in a research report on Friday, November 2nd. ValuEngine raised shares of Navigators Group from a hold rating to a buy rating in a research report on Thursday, August 23rd. Boenning Scattergood reaffirmed a hold rating on shares of Navigators Group in a research report on Wednesday, August 22nd. Sandler O’Neill raised shares of Navigators Group from a hold rating to a buy rating in a research report on Tuesday, August 14th. Finally, Keefe, Bruyette & Woods set a $70.00 price objective on shares of Navigators Group and gave the stock a hold rating in a research report on Wednesday, August 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. Navigators Group has an average rating of Hold and an average price target of $65.67.
NAVG traded down $0.28 on Friday, hitting $69.30. 113,586 shares of the stock were exchanged, compared to its average volume of 100,972. Navigators Group has a 12 month low of $45.80 and a 12 month high of $71.45. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 59.74 and a beta of 0.56.
Navigators Group (NASDAQ:NAVG) last posted its quarterly earnings data on Wednesday, November 7th. The insurance provider reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.52). Navigators Group had a return on equity of 7.28% and a net margin of 6.54%. The firm had revenue of $374.41 million for the quarter, compared to the consensus estimate of $373.96 million. Sell-side analysts anticipate that Navigators Group will post 3.35 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Shareholders of record on Friday, November 30th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend is Thursday, November 29th. Navigators Group’s payout ratio is 24.14%.
Hedge funds and other institutional investors have recently modified their holdings of the business. Mint Tower Capital Management B.V. acquired a new position in Navigators Group during the third quarter worth about $104,000. Dupont Capital Management Corp acquired a new position in Navigators Group during the third quarter worth about $125,000. CIBC Asset Management Inc acquired a new position in Navigators Group during the third quarter worth about $201,000. Wesbanco Bank Inc. acquired a new position in Navigators Group during the third quarter worth about $214,000. Finally, Federated Investors Inc. PA acquired a new position in Navigators Group during the second quarter worth about $209,000. 74.50% of the stock is owned by hedge funds and other institutional investors.
Navigators Group Company Profile
The Navigators Group, Inc, together with its subsidiaries, underwrites marine, property and casualty, and professional liability insurance products and services in the United States and internationally. The company operates through the U.S. Insurance, International Insurance, Global Reinsurance, and Corporate segments.
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