Zacks Investment Research Downgrades The Navigators Group, Inc. (NAVG) to Hold
The Navigators Group, Inc. (NASDAQ:NAVG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday.
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. “
NAVG has been the topic of several other reports. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $55.00 price objective on shares of The Navigators Group in a research report on Thursday, September 21st. ValuEngine lowered shares of The Navigators Group from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Boenning Scattergood initiated coverage on shares of The Navigators Group in a research report on Wednesday, June 28th. They issued a “neutral” rating on the stock. BidaskClub upgraded shares of The Navigators Group from a “hold” rating to a “buy” rating in a research report on Wednesday, August 23rd. Finally, Sidoti initiated coverage on shares of The Navigators Group in a research report on Thursday, June 22nd. They issued a “neutral” rating and a $58.00 price objective on the stock. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $59.00.
The Navigators Group (NASDAQ:NAVG) opened at 58.35 on Friday. The stock has a market capitalization of $1.72 billion, a P/E ratio of 20.62 and a beta of 0.78. The Navigators Group has a 1-year low of $45.38 and a 1-year high of $62.04. The stock has a 50 day moving average of $55.82 and a 200 day moving average of $54.30.
The Navigators Group (NASDAQ:NAVG) last released its quarterly earnings data on Thursday, August 3rd. The insurance provider reported $0.66 EPS for the quarter, topping the consensus estimate of $0.58 by $0.08. The Navigators Group had a net margin of 6.86% and a return on equity of 6.53%. The business had revenue of $293.80 million for the quarter, compared to analyst estimates of $297.82 million. During the same period in the previous year, the firm earned $0.54 EPS. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, analysts expect that The Navigators Group will post $2.59 earnings per share for the current year.
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In other The Navigators Group news, SVP R Scott Eisdorfer sold 10,985 shares of the company’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $56.33, for a total value of $618,785.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Patricia H. Roberts bought 1,355 shares of The Navigators Group stock in a transaction on Friday, August 18th. The stock was purchased at an average price of $55.29 per share, for a total transaction of $74,917.95. Following the completion of the acquisition, the director now owns 3,951 shares in the company, valued at approximately $218,450.79. The disclosure for this purchase can be found here. Insiders sold a total of 20,000 shares of company stock worth $1,123,880 over the last quarter. Insiders own 24.10% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. purchased a new position in The Navigators Group in the 1st quarter valued at about $105,000. Bank of Montreal Can lifted its holdings in The Navigators Group by 4.9% in the 2nd quarter. Bank of Montreal Can now owns 2,073 shares of the insurance provider’s stock valued at $113,000 after purchasing an additional 97 shares in the last quarter. Huntington National Bank lifted its holdings in The Navigators Group by 29.2% in the 2nd quarter. Huntington National Bank now owns 2,183 shares of the insurance provider’s stock valued at $120,000 after purchasing an additional 494 shares in the last quarter. SG Americas Securities LLC lifted its holdings in The Navigators Group by 42.1% in the 1st quarter. SG Americas Securities LLC now owns 2,942 shares of the insurance provider’s stock valued at $160,000 after purchasing an additional 871 shares in the last quarter. Finally, Diversified Trust Co purchased a new position in The Navigators Group in the 2nd quarter valued at about $200,000. Institutional investors own 73.91% of the company’s stock.
About The Navigators Group
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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