BNP Paribas Arbitrage SA boosted its holdings in The Navigators Group, Inc. (NASDAQ:NAVG) by 53.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,966 shares of the insurance provider’s stock after buying an additional 4,170 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in The Navigators Group were worth $698,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of NAVG. Bank of Montreal Can grew its position in The Navigators Group by 4.9% in the second quarter. Bank of Montreal Can now owns 2,073 shares of the insurance provider’s stock worth $113,000 after buying an additional 97 shares during the last quarter. Neuberger Berman Group LLC acquired a new position in The Navigators Group in the second quarter worth approximately $202,000. BlueCrest Capital Management Ltd acquired a new position in The Navigators Group in the second quarter worth approximately $241,000. DF Dent & Co. Inc. acquired a new position in The Navigators Group in the second quarter worth approximately $253,000. Finally, Piedmont Investment Advisors LLC acquired a new position in The Navigators Group in the second quarter worth approximately $266,000. Hedge funds and other institutional investors own 73.97% of the company’s stock.
Several equities research analysts recently issued reports on NAVG shares. Zacks Investment Research lowered shares of The Navigators Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. Boenning Scattergood reaffirmed a “hold” rating on shares of The Navigators Group in a research note on Monday, November 6th. ValuEngine lowered shares of The Navigators Group from a “hold” rating to a “sell” rating in a research note on Friday, November 10th. BidaskClub raised shares of The Navigators Group from a “hold” rating to a “buy” rating in a research note on Wednesday, August 23rd. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $55.00 price objective on shares of The Navigators Group in a research note on Thursday, September 21st. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $59.67.
The Navigators Group (NASDAQ:NAVG) last announced its earnings results on Thursday, November 2nd. The insurance provider reported ($1.00) EPS for the quarter, missing the consensus estimate of ($0.63) by ($0.37). The firm had revenue of $326.47 million during the quarter, compared to the consensus estimate of $307.12 million. The Navigators Group had a return on equity of 2.32% and a net margin of 2.79%. The business’s revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.40 EPS. research analysts forecast that The Navigators Group, Inc. will post 0.93 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 24th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $0.24 annualized dividend and a yield of 0.48%. The Navigators Group’s dividend payout ratio (DPR) is presently 20.87%.
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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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