Champlain Investment Partners LLC cut its stake in Navigators Group Inc (NASDAQ:NAVG) by 0.9% in the first quarter, HoldingsChannel reports. The institutional investor owned 850,585 shares of the insurance provider’s stock after selling 7,520 shares during the quarter. Champlain Investment Partners LLC’s holdings in Navigators Group were worth $59,430,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Water Island Capital LLC grew its position in shares of Navigators Group by 112.0% in the first quarter. Water Island Capital LLC now owns 1,133,841 shares of the insurance provider’s stock valued at $79,221,000 after purchasing an additional 598,965 shares during the last quarter. Norges Bank acquired a new stake in shares of Navigators Group in the fourth quarter valued at approximately $26,417,000. Gardner Lewis Asset Management L P acquired a new stake in shares of Navigators Group in the fourth quarter valued at approximately $16,756,000. Bank of America Corp DE grew its position in shares of Navigators Group by 134.4% in the fourth quarter. Bank of America Corp DE now owns 256,114 shares of the insurance provider’s stock valued at $17,796,000 after purchasing an additional 146,837 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. grew its position in shares of Navigators Group by 68.6% in the first quarter. Candriam Luxembourg S.C.A. now owns 273,901 shares of the insurance provider’s stock valued at $19,138,000 after purchasing an additional 111,401 shares during the last quarter. 69.64% of the stock is owned by institutional investors.
Several research firms have recently commented on NAVG. Boenning Scattergood reiterated a “hold” rating on shares of Navigators Group in a research report on Friday, May 10th. BidaskClub upgraded shares of Navigators Group from a “strong sell” rating to a “sell” rating in a research report on Thursday, May 9th. ValuEngine upgraded shares of Navigators Group from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Finally, Zacks Investment Research lowered shares of Navigators Group from a “hold” rating to a “strong sell” rating in a research report on Saturday, April 20th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $68.50.
Navigators Group (NASDAQ:NAVG) last announced its earnings results on Thursday, May 9th. The insurance provider reported ($0.59) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.90). Navigators Group had a return on equity of 0.50% and a net margin of 0.11%. The firm had revenue of $401.14 million for the quarter, compared to analyst estimates of $400.80 million. Equities analysts anticipate that Navigators Group Inc will post 1 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Monday, June 3rd will be given a dividend of $0.07 per share. The ex-dividend date is Friday, May 31st. This represents a $0.28 dividend on an annualized basis and a yield of 0.40%. Navigators Group’s dividend payout ratio (DPR) is currently 14.97%.
About Navigators Group
The Navigators Group, Inc, together with its subsidiaries, underwrites marine, property and casualty, and professional liability insurance products and services in the United States and internationally. The company operates through the U.S. Insurance, International Insurance, and Global Reinsurance segments.
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