Emerald Acquisition Ltd. purchased a new position in shares of The Navigators Group Inc. (NASDAQ:NAVG) during the second quarter, Holdings Channel reports. The firm purchased 43,565 shares of the company’s stock, valued at approximately $4,008,000. Emerald Acquisition Ltd. owned 0.30% of The Navigators Group as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Fund Advisors raised its position in shares of The Navigators Group by 1.1% in the first quarter. BlackRock Fund Advisors now owns 684,784 shares of the company’s stock worth $57,433,000 after buying an additional 7,511 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of The Navigators Group by 1.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 309,712 shares of the company’s stock worth $25,976,000 after buying an additional 5,677 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of The Navigators Group by 0.6% in the second quarter. Bank of New York Mellon Corp now owns 206,022 shares of the company’s stock worth $18,947,000 after buying an additional 1,255 shares during the last quarter. Norges Bank acquired a new position in shares of The Navigators Group during the fourth quarter worth about $15,159,000. Finally, JPMorgan Chase & Co. raised its position in shares of The Navigators Group by 4.9% in the first quarter. JPMorgan Chase & Co. now owns 128,065 shares of the company’s stock worth $10,740,000 after buying an additional 6,012 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.
Shares of The Navigators Group Inc. (NASDAQ:NAVG) traded up 0.81% on Tuesday, hitting $94.72. 40,026 shares of the company’s stock were exchanged. The firm has a market cap of $1.38 billion, a P/E ratio of 18.82 and a beta of 0.55. The Navigators Group Inc. has a 12 month low of $74.74 and a 12 month high of $97.25. The stock’s 50 day moving average is $93.03 and its 200 day moving average is $88.55.
The Navigators Group (NASDAQ:NAVG) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.02. The Navigators Group had a net margin of 6.69% and a return on equity of 6.45%. The company had revenue of $267.90 million for the quarter, compared to analyst estimates of $270.31 million. During the same period last year, the firm earned $1.34 earnings per share. The firm’s revenue was up 10.6% on a year-over-year basis. On average, equities analysts predict that The Navigators Group Inc. will post $4.74 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, August 19th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date is Wednesday, August 17th. The Navigators Group’s payout ratio is currently 7.14%.
A number of research analysts have issued reports on NAVG shares. Keefe, Bruyette & Woods increased their target price on shares of The Navigators Group from $82.00 to $86.00 and gave the stock a “market perform” rating in a research report on Friday, May 27th. Zacks Investment Research upgraded shares of The Navigators Group from a “sell” rating to a “hold” rating in a research report on Thursday, June 16th.
In related news, SVP R Scott Eisdorfer sold 2,760 shares of the firm’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $92.44, for a total transaction of $255,134.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 24.20% of the company’s stock.
About The Navigators Group
The Navigators Group, Inc is a holding company. The Company is an international insurance company focused on marine insurance. The Company’s segments are 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 Primary and Excess Casualty divisions.
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