Prudential Financial Inc. decreased its stake in shares of The Navigators Group Inc. (NASDAQ:NAVG) by 3.7% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 115,423 shares of the company’s stock after selling 4,476 shares during the period. Prudential Financial Inc. owned about 0.79% of The Navigators Group worth $10,615,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in the stock. Legal & General Group Plc boosted its position in The Navigators Group by 5.3% in the first quarter. Legal & General Group Plc now owns 2,560 shares of the company’s stock valued at $216,000 after buying an additional 130 shares in the last quarter. Capstone Asset Management Co. boosted its position in The Navigators Group by 4.2% in the second quarter. Capstone Asset Management Co. now owns 4,906 shares of the company’s stock valued at $451,000 after buying an additional 200 shares in the last quarter. Teacher Retirement System of Texas boosted its position in The Navigators Group by 14.4% in the second quarter. Teacher Retirement System of Texas now owns 1,617 shares of the company’s stock valued at $149,000 after buying an additional 203 shares in the last quarter. GSA Capital Partners LLP boosted its position in The Navigators Group by 10.3% in the second quarter. GSA Capital Partners LLP now owns 2,972 shares of the company’s stock valued at $273,000 after buying an additional 278 shares in the last quarter. Finally, Glenmede Trust Co. NA boosted its position in The Navigators Group by 37.7% in the second quarter. Glenmede Trust Co. NA now owns 1,162 shares of the company’s stock valued at $106,000 after buying an additional 318 shares in 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 1.48% during midday trading on Wednesday, reaching $97.69. 19,653 shares of the company traded hands. The stock has a market capitalization of $1.42 billion, a P/E ratio of 19.41 and a beta of 0.54. The Navigators Group Inc. has a 1-year low of $74.74 and a 1-year high of $98.53. The stock’s 50-day moving average is $94.33 and its 200-day moving average is $89.62.
The Navigators Group (NASDAQ:NAVG) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.81 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.02. The company had revenue of $267.90 million for the quarter, compared to analyst estimates of $270.31 million. The Navigators Group had a net margin of 6.69% and a return on equity of 6.45%. The firm’s revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.34 earnings per share. Equities analysts predict that The Navigators Group Inc. will post $4.74 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, August 19th were paid a $0.09 dividend. The ex-dividend date of this dividend was Wednesday, August 17th. This represents a $0.36 annualized dividend and a yield of 0.37%. The Navigators Group’s dividend payout ratio is currently 7.14%.
Separately, Zacks Investment Research upgraded shares of The Navigators Group from a “sell” rating to a “hold” rating in a research note on Thursday, June 16th.
In other news, SVP R Scott Eisdorfer sold 2,760 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $92.44, for a total transaction of $255,134.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 24.20% of the company’s stock.
The Navigators Group Company Profile
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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