The Navigators Group, Inc. (NAVG) Rating Increased to Buy at Zacks Investment Research
The Navigators Group, Inc. (NASDAQ:NAVG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The brokerage currently has a $65.00 price target on the insurance provider’s stock. Zacks Investment Research‘s target price indicates a potential upside of 8.24% from the stock’s current price.
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. “
A number of other brokerages have also recently commented on NAVG. Sidoti began coverage on The Navigators Group in a research note on Thursday, June 22nd. They issued a “neutral” rating and a $58.00 price target for the company. Boenning Scattergood initiated coverage on The Navigators Group in a report on Wednesday, June 28th. They set a “neutral” rating on the stock. BidaskClub upgraded The Navigators Group from a “hold” rating to a “buy” rating in a research report on Wednesday, August 23rd. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $55.00 price objective on shares of The Navigators Group in a research report on Thursday, September 21st. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The Navigators Group currently has a consensus rating of “Hold” and a consensus price target of $59.33.
The Navigators Group (NASDAQ NAVG) opened at 60.05 on Tuesday. The company has a market cap of $1.77 billion, a PE ratio of 21.22 and a beta of 0.79. The company has a 50-day moving average price of $56.18 and a 200 day moving average price of $54.49. The Navigators Group has a 12-month low of $45.38 and a 12-month high of $62.04.
The Navigators Group (NASDAQ:NAVG) last issued its earnings results on Thursday, August 3rd. The insurance provider reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.08. The firm had revenue of $293.80 million for the quarter, compared to analyst estimates of $297.82 million. The Navigators Group had a net margin of 6.86% and a return on equity of 6.53%. The company’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the business posted $0.54 earnings per share. On average, analysts forecast that The Navigators Group will post $2.59 EPS for the current fiscal year.
In other The Navigators Group news, Director Patricia H. Roberts purchased 1,355 shares of the company’s stock in a transaction dated Friday, August 18th. The stock was purchased at an average price of $55.29 per share, with a total value of $74,917.95. Following the completion of the purchase, the director now owns 3,951 shares of the company’s stock, valued at $218,450.79. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP R Scott Eisdorfer sold 2,200 shares of The Navigators Group stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $55.82, for a total transaction of $122,804.00. The disclosure for this sale can be found here. Insiders have sold a total of 20,000 shares of company stock worth $1,123,880 over the last three months. Insiders own 24.10% of the company’s stock.
Several institutional investors have recently modified their holdings of NAVG. Profund Advisors LLC grew its stake in shares of The Navigators Group by 28.0% in the first quarter. Profund Advisors LLC now owns 3,893 shares of the insurance provider’s stock worth $211,000 after purchasing an additional 851 shares during the last quarter. Russell Investments Group Ltd. raised its position in The Navigators Group by 55.6% during the 1st quarter. Russell Investments Group Ltd. now owns 63,656 shares of the insurance provider’s stock worth $3,457,000 after purchasing an additional 22,743 shares during the last quarter. Wells Fargo & Company MN raised its position in The Navigators Group by 91.8% during the 1st quarter. Wells Fargo & Company MN now owns 17,658 shares of the insurance provider’s stock worth $959,000 after purchasing an additional 8,453 shares during the last quarter. Great West Life Assurance Co. Can raised its position in The Navigators Group by 116.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 32,827 shares of the insurance provider’s stock worth $1,780,000 after purchasing an additional 17,628 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its position in The Navigators Group by 100.0% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 9,374 shares of the insurance provider’s stock worth $509,000 after purchasing an additional 4,687 shares during the last quarter. 73.91% of the stock is currently owned by institutional investors.
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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