Walthausen & Co. LLC Sells 1,218 Shares of The Navigators Group, Inc. (NAVG)
Walthausen & Co. LLC lessened its holdings in shares of The Navigators Group, Inc. (NASDAQ:NAVG) by 0.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 232,548 shares of the insurance provider’s stock after selling 1,218 shares during the quarter. The Navigators Group makes up approximately 1.2% of Walthausen & Co. LLC’s portfolio, making the stock its 22nd largest holding. Walthausen & Co. LLC owned 0.79% of The Navigators Group worth $12,767,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of NAVG. BlackRock Inc. raised its position in The Navigators Group by 94,039.4% during the first quarter. BlackRock Inc. now owns 2,766,756 shares of the insurance provider’s stock valued at $150,236,000 after acquiring an additional 2,763,817 shares in the last quarter. Dimensional Fund Advisors LP raised its position in The Navigators Group by 99.7% during the first quarter. Dimensional Fund Advisors LP now owns 2,458,404 shares of the insurance provider’s stock valued at $133,491,000 after acquiring an additional 1,227,194 shares in the last quarter. Vanguard Group Inc. raised its position in The Navigators Group by 113.4% during the first quarter. Vanguard Group Inc. now owns 2,162,874 shares of the insurance provider’s stock valued at $117,444,000 after acquiring an additional 1,149,369 shares in the last quarter. Champlain Investment Partners LLC raised its position in The Navigators Group by 129.7% during the first quarter. Champlain Investment Partners LLC now owns 1,069,640 shares of the insurance provider’s stock valued at $58,081,000 after acquiring an additional 603,990 shares in the last quarter. Finally, State Street Corp raised its position in The Navigators Group by 111.1% during the first quarter. State Street Corp now owns 544,910 shares of the insurance provider’s stock valued at $29,586,000 after acquiring an additional 286,756 shares in the last quarter. 73.91% of the stock is currently owned by hedge funds and other institutional investors.
NAVG has been the topic of several recent research reports. Sidoti initiated coverage on shares of The Navigators Group in a research report on Thursday, June 22nd. They set a “neutral” rating and a $58.00 price objective on the stock. Boenning Scattergood initiated coverage on The Navigators Group in a report on Wednesday, June 28th. They set a “neutral” rating on the stock. Zacks Investment Research upgraded The Navigators Group from a “hold” rating to a “strong-buy” rating and set a $65.00 price target on the stock in a report on Wednesday, August 9th. BidaskClub upgraded The Navigators Group from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $55.00 price target on shares of The Navigators Group in a report on Thursday, September 21st. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $59.33.
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In related news, Director Patricia H. Roberts acquired 1,355 shares of the company’s stock in a transaction dated Friday, August 18th. The shares were bought at an average price of $55.29 per share, for a total transaction of $74,917.95. Following the purchase, the director now directly owns 3,951 shares in the company, valued at approximately $218,450.79. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP R Scott Eisdorfer sold 10,985 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $56.33, for a total value of $618,785.05. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,000 shares of company stock worth $1,123,880. Company insiders own 24.10% of the company’s stock.
Shares of The Navigators Group, Inc. (NAVG) traded down 0.76% during trading on Tuesday, reaching $58.60. The company’s stock had a trading volume of 34,721 shares. The stock’s 50 day moving average price is $56.73 and its 200 day moving average price is $54.72. The Navigators Group, Inc. has a 52 week low of $45.38 and a 52 week high of $62.04. The company has a market cap of $1.73 billion, a PE ratio of 20.71 and a beta of 0.79.
The Navigators Group (NASDAQ:NAVG) last announced its quarterly earnings data on Thursday, August 3rd. The insurance provider reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.08. The Navigators Group had a return on equity of 6.53% and a net margin of 6.86%. The company had revenue of $293.80 million for the quarter, compared to analysts’ expectations of $297.82 million. During the same quarter in the prior year, the business posted $0.54 EPS. The business’s revenue was up 9.7% compared to the same quarter last year. Equities research analysts predict that The Navigators Group, Inc. will post $2.46 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 14th. Stockholders of record on Thursday, August 24th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date was Tuesday, August 22nd. The Navigators Group’s dividend payout ratio is currently 8.48%.
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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