Glenmede Trust Co. NA Acquires 318 Shares of The Navigators Group Inc. (NAVG)
Glenmede Trust Co. NA raised its position in shares of The Navigators Group Inc. (NASDAQ:NAVG) by 37.7% during the second quarter, Holdings Channel reports. The firm owned 1,162 shares of the company’s stock after buying an additional 318 shares during the period. Glenmede Trust Co. NA’s holdings in The Navigators Group were worth $106,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. BlackRock Fund Advisors raised its position in The Navigators Group by 1.1% in the first quarter. BlackRock Fund Advisors now owns 684,784 shares of the company’s stock worth $57,433,000 after buying an additional 7,511 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in The Navigators Group by 1.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 309,712 shares of the company’s stock worth $25,976,000 after buying an additional 5,677 shares during the period. Bank of New York Mellon Corp increased its stake in shares of The Navigators Group by 0.6% in the second quarter. Bank of New York Mellon Corp now owns 206,022 shares of the company’s stock valued at $18,947,000 after buying an additional 1,255 shares in the last quarter. Norges Bank purchased a new stake in shares of The Navigators Group during the fourth quarter valued at approximately $15,159,000. Finally, JPMorgan Chase & Co. increased its stake in shares of The Navigators Group by 4.9% in the first quarter. JPMorgan Chase & Co. now owns 128,065 shares of the company’s stock valued at $10,740,000 after buying an additional 6,012 shares in the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.
Shares of The Navigators Group Inc. (NASDAQ:NAVG) traded up 0.82% during mid-day trading on Monday, hitting $93.96. 32,081 shares of the stock traded hands. The company’s 50-day moving average price is $93.11 and its 200 day moving average price is $88.22. The company has a market capitalization of $1.37 billion, a PE ratio of 18.67 and a beta of 0.55. The Navigators Group Inc. has a 1-year low of $74.74 and a 1-year high of $97.25.
The Navigators Group (NASDAQ:NAVG) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.81 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.02. The business had revenue of $267.90 million for the quarter, compared to the consensus estimate of $270.31 million. The Navigators Group had a net margin of 6.69% and a return on equity of 6.45%. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.34 EPS. Equities research analysts forecast that The Navigators Group Inc. will post $4.74 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, August 19th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend is Wednesday, August 17th. The Navigators Group’s payout ratio is currently 7.14%.
Several analysts have recently commented on NAVG shares. Zacks Investment Research upgraded shares of The Navigators Group from a “sell” rating to a “hold” rating in a report on Wednesday, June 22nd. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of The Navigators Group in a report on Sunday, May 29th.
In other The Navigators Group news, SVP R Scott Eisdorfer sold 2,760 shares of the business’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $92.44, for a total transaction of $255,134.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 24.20% 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.
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