Harvest Management LLC bought a new position in Navigators Group Inc (NASDAQ:NAVG) during the third quarter, HoldingsChannel.com reports. The fund bought 28,100 shares of the insurance provider’s stock, valued at approximately $1,942,000. Navigators Group accounts for 1.1% of Harvest Management LLC’s portfolio, making the stock its 17th biggest position.
Other hedge funds have also added to or reduced their stakes in the company. Mint Tower Capital Management B.V. purchased a new stake in Navigators Group in the third quarter worth $104,000. Dupont Capital Management Corp bought a new position in shares of Navigators Group during the 3rd quarter worth $125,000. CIBC Asset Management Inc bought a new position in shares of Navigators Group during the 3rd quarter worth $201,000. Federated Investors Inc. PA bought a new position in shares of Navigators Group during the 2nd quarter worth $209,000. Finally, Xact Kapitalforvaltning AB bought a new position in shares of Navigators Group during the 1st quarter worth $245,000. Institutional investors and hedge funds own 74.50% of the company’s stock.
A number of research firms have recently issued reports on NAVG. Zacks Investment Research downgraded Navigators Group from a “hold” rating to a “sell” rating in a research report on Friday. BidaskClub downgraded Navigators Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 2nd. ValuEngine raised Navigators Group from a “hold” rating to a “buy” rating in a research report on Thursday, August 23rd. Sandler O’Neill raised Navigators Group from a “hold” rating to a “buy” rating in a research report on Tuesday, August 14th. Finally, Boenning Scattergood reissued a “hold” rating on shares of Navigators Group in a research report on Wednesday, August 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Navigators Group has a consensus rating of “Hold” and a consensus price target of $65.67.
Navigators Group (NASDAQ:NAVG) last issued its quarterly earnings data on Wednesday, November 7th. The insurance provider reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.52). Navigators Group had a net margin of 6.54% and a return on equity of 7.27%. The company had revenue of $374.41 million for the quarter, compared to the consensus estimate of $373.96 million. On average, equities analysts anticipate that Navigators Group Inc will post 3.35 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Friday, November 30th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date is Thursday, November 29th. Navigators Group’s payout ratio is currently 24.14%.
Navigators Group Profile
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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