Metropolitan Life Insurance Co. NY Has $876,000 Stake in The Navigators Group, Inc. (NASDAQ:NAVG)

Metropolitan Life Insurance Co. NY increased its stake in The Navigators Group, Inc. (NASDAQ:NAVG) by 100.0% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 16,138 shares of the insurance provider’s stock after buying an additional 8,069 shares during the period. Metropolitan Life Insurance Co. NY owned about 0.05% of The Navigators Group worth $876,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. AQR Capital Management LLC raised its stake in shares of The Navigators Group by 47.8% in the first quarter. AQR Capital Management LLC now owns 90,995 shares of the insurance provider’s stock worth $4,941,000 after buying an additional 29,427 shares during the last quarter. Kingdon Capital Management L.L.C. raised its stake in The Navigators Group by 58.7% in the first quarter. Kingdon Capital Management L.L.C. now owns 91,723 shares of the insurance provider’s stock worth $4,981,000 after buying an additional 33,925 shares in the last quarter. State Street Corp raised its stake in The Navigators Group by 111.1% in the first quarter. State Street Corp now owns 544,910 shares of the insurance provider’s stock worth $29,586,000 after buying an additional 286,756 shares in the last quarter. Bank of America Corp DE raised its stake in The Navigators Group by 142.1% in the first quarter. Bank of America Corp DE now owns 104,003 shares of the insurance provider’s stock worth $5,648,000 after buying an additional 61,050 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in The Navigators Group by 182.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 127,873 shares of the insurance provider’s stock worth $6,944,000 after buying an additional 82,679 shares in the last quarter. 72.96% of the stock is currently owned by hedge funds and other institutional investors.

The Navigators Group, Inc. (NAVG) opened at 55.25 on Friday. The Navigators Group, Inc. has a 52 week low of $45.38 and a 52 week high of $62.04. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 19.52 and a beta of 0.77. The company has a 50-day moving average of $55.59 and a 200-day moving average of $54.38.

The Navigators Group (NASDAQ:NAVG) last released its earnings results on Thursday, August 3rd. The insurance provider reported $0.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.08. The firm had revenue of $293.80 million for the quarter, compared to analysts’ expectations of $297.82 million. The Navigators Group had a net margin of 6.86% and a return on equity of 6.53%. The Navigators Group’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the company earned $0.54 EPS. Analysts anticipate that The Navigators Group, Inc. will post $2.54 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Thursday, August 24th will be paid a $0.06 dividend. The ex-dividend date is Tuesday, August 22nd. This represents a $0.24 annualized dividend and a dividend yield of 0.43%. The Navigators Group’s dividend payout ratio is currently 8.48%.

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A number of analysts have weighed in on the company. Zacks Investment Research lowered The Navigators Group from a “hold” rating to a “sell” rating in a report on Wednesday, May 10th. ValuEngine lowered The Navigators Group from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Boenning Scattergood reissued a “hold” rating on shares of The Navigators Group in a research report on Friday, August 4th. Finally, Sidoti started coverage on The Navigators Group in a research report on Thursday, June 22nd. They issued a “neutral” rating and a $58.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $59.50.

In other news, CEO Vincent C. Tizzio sold 20,000 shares of The Navigators Group stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $52.68, for a total value of $1,053,600.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Colin Sprott sold 10,000 shares of The Navigators Group stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $52.73, for a total transaction of $527,300.00. The disclosure for this sale can be found here. Insiders sold a total of 69,517 shares of company stock worth $3,751,607 in the last ninety days. Corporate insiders own 24.10% 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.

Institutional Ownership by Quarter for The Navigators Group (NASDAQ:NAVG)

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