The Navigators Group, Inc. (NASDAQ:NAVG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

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. “

Several other equities research analysts have also recently issued reports on the stock. Boenning Scattergood initiated coverage on shares of The Navigators Group in a research note on Wednesday, June 28th. They set a “neutral” rating on the stock. ValuEngine cut shares of The Navigators Group from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub raised shares of The Navigators Group from a “hold” rating to a “buy” rating in a research note on Wednesday, August 23rd. Sidoti initiated coverage on shares of The Navigators Group in a research note on Thursday, June 22nd. They set a “neutral” rating and a $58.00 target price on the stock. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $55.00 target price on shares of The Navigators Group in a research note on Thursday. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $58.33.

Shares of The Navigators Group (NASDAQ NAVG) opened at 56.90 on Friday. The Navigators Group has a 1-year low of $45.38 and a 1-year high of $62.04. The company’s 50-day moving average is $55.82 and its 200-day moving average is $54.30. The stock has a market cap of $1.68 billion, a P/E ratio of 20.11 and a beta of 0.78.

The Navigators Group (NASDAQ:NAVG) last announced its earnings results on Thursday, August 3rd. The insurance provider reported $0.66 earnings per share (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 company had revenue of $293.80 million for the quarter, compared to analysts’ expectations of $297.82 million. During the same quarter in the previous year, the company posted $0.54 EPS. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. Equities analysts expect that The Navigators Group will post $2.59 EPS for the current fiscal year.

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In related news, Director Patricia H. Roberts purchased 1,355 shares of The Navigators Group stock in a transaction dated Friday, August 18th. The shares were acquired at an average price of $55.29 per share, for a total transaction of $74,917.95. Following the acquisition, the director now directly owns 3,951 shares in the company, valued at $218,450.79. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, SVP R Scott Eisdorfer sold 3,532 shares of The Navigators Group stock in a transaction on Friday, August 11th. The stock was sold at an average price of $56.32, for a total value of $198,922.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,000 shares of company stock worth $1,123,880. 24.10% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Great West Life Assurance Co. Can raised its holdings in shares of The Navigators Group by 3.3% during the 2nd quarter. Great West Life Assurance Co. Can now owns 33,907 shares of the insurance provider’s stock worth $1,857,000 after acquiring an additional 1,080 shares during the period. Swiss National Bank raised its holdings in shares of The Navigators Group by 100.0% during the 1st quarter. Swiss National Bank now owns 40,800 shares of the insurance provider’s stock worth $2,215,000 after acquiring an additional 20,400 shares during the period. Nationwide Fund Advisors raised its holdings in shares of The Navigators Group by 88.0% during the 1st quarter. Nationwide Fund Advisors now owns 56,562 shares of the insurance provider’s stock worth $3,071,000 after acquiring an additional 26,469 shares during the period. Stevens Capital Management LP purchased a new position in shares of The Navigators Group during the 1st quarter worth $248,000. Finally, American International Group Inc. raised its holdings in shares of The Navigators Group by 68.4% during the 1st quarter. American International Group Inc. now owns 13,810 shares of the insurance provider’s stock worth $750,000 after acquiring an additional 5,610 shares during the period. Institutional investors and hedge funds own 73.91% of the company’s stock.

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.

Analyst Recommendations for The Navigators Group (NASDAQ:NAVG)

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