The Navigators Group Inc. (NASDAQ:NAVG) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
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. “
Shares of The Navigators Group (NASDAQ:NAVG) opened at 97.92 on Thursday. The stock has a 50 day moving average of $94.50 and a 200-day moving average of $89.68. The firm has a market capitalization of $1.43 billion, a PE ratio of 19.45 and a beta of 0.54. The Navigators Group has a 12 month low of $74.74 and a 12 month high of $98.99.
The Navigators Group (NASDAQ:NAVG) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.02. The Navigators Group had a net margin of 6.69% and a return on equity of 6.45%. The firm had revenue of $267.90 million for the quarter, compared to analyst estimates of $270.31 million. During the same period last year, the firm posted $1.34 EPS. The Navigators Group’s quarterly revenue was up 10.6% on a year-over-year basis. On average, equities research analysts anticipate that The Navigators Group will post $4.74 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, August 19th were given a $0.09 dividend. The ex-dividend date of this dividend was Wednesday, August 17th. This represents a $0.36 dividend on an annualized basis and a yield of 0.37%. The Navigators Group’s dividend payout ratio (DPR) is 7.14%.
In related news, SVP R Scott Eisdorfer sold 2,760 shares of The Navigators Group stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $92.44, for a total value of $255,134.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 24.20% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of the company. Eqis Capital Management Inc. bought a new stake in shares of The Navigators Group during the second quarter valued at approximately $210,000. Capstone Asset Management Co. raised its stake in shares of The Navigators Group by 4.2% in the second quarter. Capstone Asset Management Co. now owns 4,906 shares of the company’s stock valued at $451,000 after buying an additional 200 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of The Navigators Group by 100.9% in the second quarter. BNP Paribas Arbitrage SA now owns 3,618 shares of the company’s stock valued at $333,000 after buying an additional 1,817 shares during the last quarter. Avalon Advisors LLC bought a new stake in shares of The Navigators Group during the first quarter valued at approximately $1,204,000. Finally, Silvercrest Asset Management Group LLC raised its stake in shares of The Navigators Group by 5.5% in the first quarter. Silvercrest Asset Management Group LLC now owns 9,618 shares of the company’s stock valued at $807,000 after buying an additional 500 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.
The Navigators Group Company Profile
The Navigators Group, Inc is a holding company. The Company is an international insurance company focused on marine insurance. The Company’s segments are 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 Primary and Excess Casualty divisions.