Cubist Systematic Strategies LLC acquired a new stake in Navigators Group Inc (NASDAQ:NAVG) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 9,144 shares of the insurance provider’s stock, valued at approximately $521,000.

A number of other large investors also recently added to or reduced their stakes in NAVG. Capital Fund Management S.A. acquired a new position in Navigators Group in the second quarter valued at approximately $416,000. Dynamic Technology Lab Private Ltd acquired a new position in Navigators Group in the second quarter valued at approximately $346,000. Renaissance Technologies LLC boosted its stake in Navigators Group by 22.1% in the second quarter. Renaissance Technologies LLC now owns 548,892 shares of the insurance provider’s stock valued at $31,287,000 after acquiring an additional 99,492 shares during the period. BlueMountain Capital Management LLC acquired a new position in Navigators Group in the second quarter valued at approximately $431,000. Finally, Citadel Advisors LLC acquired a new position in Navigators Group in the second quarter valued at approximately $1,729,000. 74.32% of the stock is currently owned by institutional investors.

NAVG opened at $69.25 on Thursday. The company has a market capitalization of $2.06 billion, a price-to-earnings ratio of 59.68 and a beta of 0.57. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.41 and a quick ratio of 0.41. Navigators Group Inc has a 1-year low of $45.80 and a 1-year high of $71.45.

Navigators Group (NASDAQ:NAVG) last posted its quarterly earnings results on Wednesday, August 8th. The insurance provider reported $0.92 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.23. The company had revenue of $358.24 million for the quarter, compared to analysts’ expectations of $356.13 million. Navigators Group had a return on equity of 4.52% and a net margin of 4.44%. analysts predict that Navigators Group Inc will post 3.42 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 21st. Shareholders of record on Friday, August 31st were issued a $0.07 dividend. The ex-dividend date was Thursday, August 30th. This represents a $0.28 annualized dividend and a dividend yield of 0.40%. Navigators Group’s dividend payout ratio is currently 24.14%.

A number of equities analysts have commented on NAVG shares. Sandler O’Neill upgraded Navigators Group from a “hold” rating to a “buy” rating in a research note on Tuesday, August 14th. Keefe, Bruyette & Woods set a $62.00 target price on Navigators Group and gave the company a “hold” rating in a research note on Thursday, August 9th. BidaskClub downgraded Navigators Group from a “buy” rating to a “hold” rating in a research note on Tuesday, August 28th. Boenning Scattergood restated a “hold” rating on shares of Navigators Group in a research note on Thursday, August 9th. Finally, ValuEngine downgraded Navigators Group from a “buy” rating to a “hold” rating in a research note on Tuesday, September 4th. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $65.67.

About Navigators Group

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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Institutional Ownership by Quarter for Navigators Group (NASDAQ:NAVG)

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