Navigators Group (NAVG) Stock Rating Upgraded by Sandler O’Neill

Navigators Group (NASDAQ:NAVG) was upgraded by Sandler O’Neill from a “hold” rating to a “buy” rating in a report released on Tuesday, Marketbeat reports.

A number of other equities research analysts have also recently weighed in on NAVG. Keefe, Bruyette & Woods set a $62.00 price target on shares of Navigators Group and gave the company a “hold” rating in a research report on Thursday, August 9th. Boenning Scattergood reiterated a “hold” rating on shares of Navigators Group in a research report on Thursday, August 9th. ValuEngine upgraded shares of Navigators Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 2nd. Zacks Investment Research upgraded shares of Navigators Group from a “sell” rating to a “hold” rating in a research report on Wednesday, May 2nd. Finally, BidaskClub cut shares of Navigators Group from a “buy” rating to a “hold” rating in a research report on Saturday, April 28th. Four equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $63.00.

Shares of NAVG opened at $65.00 on Tuesday. Navigators Group has a 1-year low of $45.80 and a 1-year high of $65.20. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of 56.03 and a beta of 0.55. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.25.

Navigators Group (NASDAQ:NAVG) last announced its quarterly earnings results on Wednesday, August 8th. The insurance provider reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.23. Navigators Group had a net margin of 4.44% and a return on equity of 4.52%. The business had revenue of $358.24 million during the quarter, compared to analysts’ expectations of $356.13 million. equities research analysts predict that Navigators Group will post 3.13 earnings per share for the current fiscal year.

In related news, insider Colin Sprott sold 1,000 shares of Navigators Group stock in a transaction that occurred on Tuesday, June 12th. The shares were sold at an average price of $61.03, for a total value of $61,030.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 22.00% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. Stanley Laman Group Ltd. grew its holdings in shares of Navigators Group by 12.8% in the second quarter. Stanley Laman Group Ltd. now owns 9,997 shares of the insurance provider’s stock valued at $570,000 after purchasing an additional 1,131 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Navigators Group by 2.6% in the first quarter. Legal & General Group Plc now owns 46,957 shares of the insurance provider’s stock valued at $2,717,000 after purchasing an additional 1,197 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Navigators Group by 3.3% in the first quarter. Wells Fargo & Company MN now owns 38,840 shares of the insurance provider’s stock valued at $2,239,000 after purchasing an additional 1,233 shares in the last quarter. Natixis Advisors L.P. grew its holdings in shares of Navigators Group by 1.8% in the first quarter. Natixis Advisors L.P. now owns 98,483 shares of the insurance provider’s stock valued at $5,678,000 after purchasing an additional 1,782 shares in the last quarter. Finally, Guggenheim Capital LLC grew its holdings in shares of Navigators Group by 6.0% in 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 in the last quarter. Hedge funds and other institutional investors own 74.37% of the company’s stock.

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, Global Reinsurance, and Corporate segments.

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