Navigators Group Inc (NAVG) Position Decreased by First Trust Advisors LP

First Trust Advisors LP cut its holdings in shares of Navigators Group Inc (NASDAQ:NAVG) by 29.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,725 shares of the insurance provider’s stock after selling 2,847 shares during the quarter. First Trust Advisors LP’s holdings in Navigators Group were worth $383,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Los Angeles Capital Management & Equity Research Inc. increased its holdings in shares of Navigators Group by 37.5% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 50,635 shares of the insurance provider’s stock worth $2,886,000 after acquiring an additional 13,800 shares during the last quarter. TD Asset Management Inc. acquired a new position in shares of Navigators Group during the 2nd quarter worth approximately $4,007,000. Reinhart Partners Inc. increased its holdings in shares of Navigators Group by 5.4% during the 2nd quarter. Reinhart Partners Inc. now owns 74,624 shares of the insurance provider’s stock worth $4,254,000 after acquiring an additional 3,850 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Navigators Group by 2.0% in the 1st quarter. Principal Financial Group Inc. now owns 172,024 shares of the insurance provider’s stock valued at $9,917,000 after purchasing an additional 3,345 shares during the period. Finally, Xact Kapitalforvaltning AB bought a new stake in Navigators Group in the 1st quarter valued at $245,000. 74.32% of the stock is currently owned by institutional investors and hedge funds.

NAVG has been the subject of several recent research reports. ValuEngine upgraded Navigators Group from a “sell” rating to a “hold” rating in a research note on Saturday, June 2nd. Zacks Investment Research downgraded Navigators Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 11th. BidaskClub downgraded Navigators Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 17th. Boenning Scattergood restated a “hold” rating on shares of Navigators Group in a research note on Thursday, August 9th. Finally, Keefe, Bruyette & Woods set a $62.00 price target on Navigators Group and gave the company a “hold” rating in a research note on Thursday, August 9th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $65.67.

NAVG opened at $69.20 on Tuesday. The firm has a market capitalization of $2.06 billion, a P/E ratio of 59.67 and a beta of 0.56. Navigators Group Inc has a 1 year low of $45.80 and a 1 year high of $71.45. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.25.

Navigators Group (NASDAQ:NAVG) last released its quarterly earnings results on Wednesday, August 8th. The insurance provider reported $0.92 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.23. The business had revenue of $358.24 million during the quarter, compared to the consensus estimate of $356.13 million. Navigators Group had a return on equity of 4.52% and a net margin of 4.44%. research analysts expect that Navigators Group Inc will post 3.42 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 21st. Investors of record on Friday, August 31st were paid a $0.07 dividend. The ex-dividend date was Thursday, August 30th. This represents a $0.28 annualized dividend and a yield of 0.40%. Navigators Group’s dividend payout ratio (DPR) is presently 24.14%.

Navigators Group 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, Global Reinsurance, and Corporate segments.

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Institutional Ownership by Quarter for Navigators Group (NASDAQ:NAVG)

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