Navigators Group (NAVG) Cut to Sell at BidaskClub

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BidaskClub lowered shares of Navigators Group (NASDAQ:NAVG) from a hold rating to a sell rating in a research note released on Wednesday.

Several other brokerages have also recently issued reports on NAVG. ValuEngine cut Navigators Group from a buy rating to a hold rating in a research report on Monday, February 4th. Zacks Investment Research upgraded Navigators Group from a strong sell rating to a hold rating in a research report on Tuesday, January 15th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. Navigators Group presently has an average rating of Hold and a consensus target price of $68.50.

Shares of NAVG stock opened at $69.82 on Wednesday. Navigators Group has a 1 year low of $54.03 and a 1 year high of $71.45. The firm has a market cap of $2.08 billion, a PE ratio of 60.19 and a beta of 0.37. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.38 and a current ratio of 0.38.

The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Monday, February 25th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date was Friday, February 22nd. Navigators Group’s payout ratio is 24.14%.

Several hedge funds and other institutional investors have recently modified their holdings of NAVG. First Trust Advisors LP grew its holdings in shares of Navigators Group by 55.2% in the 3rd quarter. First Trust Advisors LP now owns 10,436 shares of the insurance provider’s stock worth $721,000 after acquiring an additional 3,711 shares during the last quarter. State Board of Administration of Florida Retirement System grew its holdings in shares of Navigators Group by 16.1% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 11,531 shares of the insurance provider’s stock worth $797,000 after acquiring an additional 1,597 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of Navigators Group by 2.4% in the 3rd quarter. Wells Fargo & Company MN now owns 39,545 shares of the insurance provider’s stock worth $2,733,000 after acquiring an additional 941 shares during the last quarter. Dupont Capital Management Corp acquired a new position in shares of Navigators Group in the 3rd quarter worth $125,000. Finally, SG Americas Securities LLC grew its holdings in shares of Navigators Group by 149.1% in the 3rd quarter. SG Americas Securities LLC now owns 38,956 shares of the insurance provider’s stock worth $2,692,000 after acquiring an additional 23,316 shares during the last quarter. Institutional investors and hedge funds own 72.65% 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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