Navigators Group (NAVG) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research cut shares of Navigators Group (NASDAQ:NAVG) from a hold rating to a strong sell rating in a research note published 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 research analysts have also issued reports about the stock. BidaskClub lowered shares of Navigators Group from a sell rating to a strong sell rating in a research note on Friday, April 5th. ValuEngine upgraded shares of Navigators Group from a hold rating to a buy rating in a research note on Friday, March 1st. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $68.50.

NASDAQ NAVG opened at $69.95 on Friday. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of 60.30 and a beta of 0.36. Navigators Group has a one year low of $54.03 and a one year high of $71.45.

Several institutional investors have recently modified their holdings of NAVG. Norges Bank acquired a new position in shares of Navigators Group during the fourth quarter worth about $26,417,000. BlackRock Inc. increased its stake in shares of Navigators Group by 11.8% during the third quarter. BlackRock Inc. now owns 3,221,676 shares of the insurance provider’s stock worth $222,617,000 after acquiring an additional 340,557 shares during the period. Water Island Capital LLC increased its stake in shares of Navigators Group by 164.8% during the fourth quarter. Water Island Capital LLC now owns 534,876 shares of the insurance provider’s stock worth $37,169,000 after acquiring an additional 332,876 shares during the period. Gardner Lewis Asset Management L P acquired a new position in shares of Navigators Group during the fourth quarter worth about $16,756,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Navigators Group by 77.6% during the third quarter. JPMorgan Chase & Co. now owns 407,912 shares of the insurance provider’s stock worth $28,187,000 after acquiring an additional 178,205 shares during the period. Institutional investors and hedge funds own 73.93% 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, and Global Reinsurance segments.

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