The Navigators Group, Inc. (NAVG) Issues Quarterly Earnings Results
The Navigators Group, Inc. (NASDAQ:NAVG) issued its quarterly earnings results on Thursday. The insurance provider reported ($1.00) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.63) by ($0.37), Bloomberg Earnings reports. The business had revenue of $326.47 million during the quarter, compared to the consensus estimate of $307.12 million. The Navigators Group had a return on equity of 2.33% and a net margin of 2.79%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.40 earnings per share.
The Navigators Group (NASDAQ NAVG) traded down $7.10 on Friday, hitting $51.40. The stock had a trading volume of 297,909 shares, compared to its average volume of 57,187. The firm has a market capitalization of $1.72 billion, a P/E ratio of 63.53 and a beta of 0.84. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.22.
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In related news, Director Patricia H. Roberts bought 1,355 shares of the company’s stock in a transaction on Friday, August 18th. The shares were purchased at an average price of $55.29 per share, for a total transaction of $74,917.95. Following the completion of the transaction, the director now directly owns 3,951 shares in the company, valued at approximately $218,450.79. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP R Scott Eisdorfer sold 2,200 shares of the stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $55.82, for a total value of $122,804.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,000 shares of company stock worth $1,123,880. Company insiders own 24.10% of the company’s stock.
A number of analysts have recently issued reports on the company. Zacks Investment Research upgraded The Navigators Group from a “hold” rating to a “strong-buy” rating and set a $65.00 price objective on the stock in a research report on Wednesday, August 9th. Keefe, Bruyette & Woods restated a “hold” rating and set a $56.00 price objective on shares of The Navigators Group in a research report on Monday, October 16th. Boenning Scattergood restated a “hold” rating on shares of The Navigators Group in a research report on Friday, August 4th. Finally, BidaskClub upgraded The Navigators Group from a “hold” rating to a “buy” rating in a research report on Wednesday, August 23rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $59.67.
The 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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