Zacks Investment Research Downgrades Navigators Group (NAVG) to Strong Sell

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Navigators Group (NASDAQ:NAVG) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued on Saturday, Zacks.com reports.

According to Zacks, “The Navigators Group, Inc. is a holding company with twelve active wholly owned subsidiaries. They primarily write marine, onshore energy, engineering and construction insurance, and a contractors’ general liability program. As underwritten by Navigators, marine insurance includes hull, energy, liability and cargo; onshore energy primarily covers property damage with an emphasis on the oil and petrochemical sectors; and engineering and construction primarily covers construction projects including machinery, equipment and loss of use due to delays. “

Other analysts also recently issued research reports about the stock. BidaskClub downgraded shares of Navigators Group from a “sell” rating to a “strong sell” rating in a report on Friday, April 5th. ValuEngine upgraded shares of Navigators Group from a “hold” rating to a “buy” rating in a report on Friday, March 1st. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $68.50.

Navigators Group stock opened at $69.97 on Friday. Navigators Group has a fifty-two week low of $54.03 and a fifty-two week high of $71.45. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.38 and a quick ratio of 0.38. The company has a market capitalization of $2.09 billion, a P/E ratio of 60.32 and a beta of 0.36.

Large investors have recently bought and sold shares of the business. Mycio Wealth Partners LLC acquired a new position in shares of Navigators Group during the first quarter worth about $1,374,000. 6 Meridian acquired a new position in shares of Navigators Group during the first quarter worth about $679,000. Geode Capital Management LLC increased its stake in shares of Navigators Group by 14.7% during the fourth quarter. Geode Capital Management LLC now owns 272,135 shares of the insurance provider’s stock worth $18,910,000 after acquiring an additional 34,968 shares during the period. Norges Bank acquired a new position in shares of Navigators Group during the fourth quarter worth about $26,417,000. Finally, Amalgamated Bank acquired a new position in shares of Navigators Group during the fourth quarter worth about $214,000. Institutional investors and hedge funds own 73.93% of the company’s stock.

Navigators Group Company 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, and Global Reinsurance segments.

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