Vanguard Group Inc. lifted its stake in shares of The Navigators Group, Inc. (NASDAQ:NAVG) by 3.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,246,404 shares of the insurance providers stock after buying an additional 83,530 shares during the quarter. Vanguard Group Inc. owned about 7.62% of The Navigators Group worth $123,328,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. BlackRock Inc. increased its holdings in shares of The Navigators Group by 94,039.4% in the 1st quarter. BlackRock Inc. now owns 2,766,756 shares of the insurance providers stock valued at $150,236,000 after acquiring an additional 2,763,817 shares during the period. State Street Corp increased its holdings in shares of The Navigators Group by 111.1% in the 1st quarter. State Street Corp now owns 544,910 shares of the insurance providers stock valued at $29,586,000 after acquiring an additional 286,756 shares during the period. Renaissance Technologies LLC increased its stake in The Navigators Group by 150.8% in the 1st quarter. Renaissance Technologies LLC now owns 337,292 shares of the insurance providers stock valued at $18,315,000 after buying an additional 202,792 shares during the period. Geode Capital Management LLC increased its stake in The Navigators Group by 121.7% in the 1st quarter. Geode Capital Management LLC now owns 192,397 shares of the insurance providers stock valued at $10,447,000 after buying an additional 105,612 shares during the period. Finally, Principal Financial Group Inc. increased its stake in The Navigators Group by 106.3% in the 1st quarter. Principal Financial Group Inc. now owns 184,162 shares of the insurance providers stock valued at $10,000,000 after buying an additional 94,889 shares during the period. Institutional investors and hedge funds own 73.29% of the companys stock.
NAVG has been the topic of several recent research reports. BidaskClub raised shares of The Navigators Group from a hold rating to a buy rating in a research note on Wednesday, August 23rd. Zacks Investment Research upgraded shares of The Navigators Group from a hold rating to a buy rating and set a $62.00 price objective on the stock in a research report on Tuesday, September 5th. Keefe, Bruyette & Woods reiterated a hold rating and issued a $55.00 price objective on shares of The Navigators Group in a research report on Thursday, September 21st. Finally, Boenning Scattergood restated a hold rating on shares of The Navigators Group in a report on Friday, August 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. The Navigators Group presently has an average rating of Hold and an average price target of $59.67.
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In other The Navigators Group news, Director Patricia H. Roberts purchased 1,355 shares of The Navigators Group stock in a transaction that occurred on Friday, August 18th. The shares were bought at an average price of $55.29 per share, for a total transaction of $74,917.95. Following the acquisition, the director now directly owns 3,951 shares in the company, valued at $218,450.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP R Scott Eisdorfer sold 2,200 shares of the businesss stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $55.82, for a total value of $122,804.00. The disclosure for this sale can be found here. In the last three months, insiders sold 20,000 shares of company stock valued at $1,123,880. 24.10% of the stock is currently owned by corporate insiders.
The Navigators Group (NASDAQ:NAVG) last released its earnings results on Thursday, August 3rd. The insurance provider reported $0.66 earnings per share for the quarter, beating analysts consensus estimates of $0.58 by $0.08. The Navigators Group had a return on equity of 6.53% and a net margin of 6.86%. The company had revenue of $293.80 million during the quarter, compared to analyst estimates of $297.82 million. During the same quarter in the previous year, the company posted $0.54 EPS. The Navigators Groups revenue for the quarter was up 9.7% on a year-over-year basis.
The Navigators Group, Inc is an insurance holding company. The Company is an international insurance company focused on marine insurance. The Companys segments include U.S. Insurance, International Insurance (Intl Insurance), Global Reinsurance (GlobalRe) and Corporate. The Companys Property and Casualty (P&C) insurance business primarily offers general liability coverage, and umbrella and excess liability coverage to commercial enterprises through its U.S.
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