Navigators Group (NAVG) Downgraded to Hold at Zacks Investment Research

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

Several other equities analysts have also recently commented on the company. ValuEngine cut Navigators Group from a “hold” rating to a “sell” rating in a research note on Sunday, December 31st. Keefe, Bruyette & Woods reiterated a “sell” rating on shares of Navigators Group in a research note on Thursday, December 21st. BidaskClub cut Navigators Group from a “sell” rating to a “strong sell” rating in a research note on Thursday, December 21st. Sandler O’Neill upgraded Navigators Group from a “hold” rating to a “buy” rating in a research note on Thursday, December 7th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Navigators Group in a research note on Monday, November 6th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $52.67.

Shares of Navigators Group (NAVG) opened at $48.90 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.44 and a quick ratio of 0.44. Navigators Group has a 1 year low of $45.80 and a 1 year high of $60.35. The stock has a market cap of $1,438.28, a P/E ratio of 42.52 and a beta of 0.78.

Navigators Group (NASDAQ:NAVG) last issued its quarterly earnings data on Thursday, November 2nd. The insurance provider reported ($1.00) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.63) by ($0.37). The firm had revenue of $326.47 million during the quarter, compared to analyst estimates of $307.12 million. Navigators Group had a net margin of 2.79% and a return on equity of 2.32%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same period last year, the business earned $1.40 EPS. equities research analysts forecast that Navigators Group will post 0.93 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the company. CS Mckee LP boosted its stake in shares of Navigators Group by 0.7% during the 2nd quarter. CS Mckee LP now owns 30,700 shares of the insurance provider’s stock valued at $1,685,000 after buying an additional 200 shares during the last quarter. New York State Common Retirement Fund lifted its stake in Navigators Group by 2.3% during the second quarter. New York State Common Retirement Fund now owns 31,542 shares of the insurance provider’s stock worth $1,732,000 after purchasing an additional 699 shares during the last quarter. Voya Investment Management LLC lifted its stake in Navigators Group by 8.7% during the second quarter. Voya Investment Management LLC now owns 11,518 shares of the insurance provider’s stock worth $632,000 after purchasing an additional 920 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Navigators Group by 6.4% during the second quarter. Wells Fargo & Company MN now owns 18,790 shares of the insurance provider’s stock worth $1,032,000 after purchasing an additional 1,132 shares during the last quarter. Finally, Sei Investments Co. lifted its stake in Navigators Group by 2,600.0% during the third quarter. Sei Investments Co. now owns 2,268 shares of the insurance provider’s stock worth $132,000 after purchasing an additional 2,184 shares during the last quarter. Institutional investors own 73.95% of the company’s stock.

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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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