Zacks Investment Research upgraded shares of Navigators Group (NASDAQ:NAVG) from a hold rating to a strong-buy rating in a research note published on Saturday. They currently have $58.00 price objective on the insurance provider’s stock.
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 research analysts also recently issued reports on NAVG. Boenning Scattergood reiterated a hold rating on shares of Navigators Group in a research note on Friday, February 16th. BidaskClub upgraded shares of Navigators Group from a sell rating to a hold rating in a research note on Saturday. Sandler O’Neill reiterated a hold rating and issued a $60.00 target price on shares of Navigators Group in a research note on Friday, February 16th. ValuEngine downgraded shares of Navigators Group from a hold rating to a sell rating in a research note on Friday, February 2nd. Finally, Keefe, Bruyette & Woods reiterated a sell rating on shares of Navigators Group in a research note on Thursday, December 21st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a strong buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $55.25.
Navigators Group (NASDAQ:NAVG) last posted its quarterly earnings data on Thursday, February 15th. The insurance provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.59 by $0.22. The business had revenue of $305.10 million for the quarter, compared to analyst estimates of $314.59 million. Navigators Group had a net margin of 3.08% and a return on equity of 2.85%. Navigators Group’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.71 earnings per share. analysts expect that Navigators Group will post 2.58 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 23rd. Stockholders of record on Friday, March 2nd will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend is Thursday, March 1st. This is an increase from Navigators Group’s previous quarterly dividend of $0.06. Navigators Group’s dividend payout ratio is currently 18.05%.
Several hedge funds and other institutional investors have recently modified their holdings of the company. New York State Common Retirement Fund lifted its stake in shares of Navigators Group by 2.3% in 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 buying an additional 699 shares in the last quarter. Voya Investment Management LLC lifted its position 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 valued at $632,000 after purchasing an additional 920 shares during the period. Bank of Montreal Can lifted its position in Navigators Group by 30.5% during the fourth quarter. Bank of Montreal Can now owns 4,585 shares of the insurance provider’s stock valued at $223,000 after purchasing an additional 1,071 shares during the period. Wells Fargo & Company MN lifted its position 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 valued at $1,032,000 after purchasing an additional 1,132 shares during the period. Finally, Guggenheim Capital LLC lifted its position in Navigators Group by 6.0% during the fourth quarter. Guggenheim Capital LLC now owns 35,336 shares of the insurance provider’s stock valued at $1,720,000 after purchasing an additional 1,992 shares during the period. Hedge funds and other institutional investors own 73.99% of the company’s stock.
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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