Diamond Hill Capital Management Inc. Decreases Holdings in Navigators Group

Diamond Hill Capital Management Inc. decreased its position in Navigators Group Inc (NASDAQ:NAVG) by 2.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,184,576 shares of the insurance provider’s stock after selling 35,492 shares during the quarter. Diamond Hill Capital Management Inc. owned approximately 3.98% of Navigators Group worth $81,854,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Mint Tower Capital Management B.V. bought a new stake in shares of Navigators Group in the 3rd quarter valued at approximately $104,000. Dupont Capital Management Corp bought a new stake in shares of Navigators Group in the 3rd quarter valued at approximately $125,000. CIBC Asset Management Inc bought a new stake in shares of Navigators Group in the 3rd quarter valued at approximately $201,000. Federated Investors Inc. PA bought a new stake in shares of Navigators Group in the 2nd quarter valued at approximately $209,000. Finally, Wesbanco Bank Inc. bought a new stake in shares of Navigators Group during the 3rd quarter worth approximately $214,000. 72.52% of the stock is currently owned by institutional investors.

Shares of NAVG stock opened at $69.45 on Friday. Navigators Group Inc has a 1-year low of $46.25 and a 1-year high of $71.45. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.23. The firm has a market cap of $2.07 billion, a P/E ratio of 59.87 and a beta of 0.49.

Navigators Group (NASDAQ:NAVG) last posted its quarterly earnings results on Wednesday, November 7th. The insurance provider reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.52). The firm had revenue of $374.41 million for the quarter, compared to analysts’ expectations of $373.96 million. Navigators Group had a net margin of 6.54% and a return on equity of 7.27%. On average, equities research analysts forecast that Navigators Group Inc will post 2.92 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 21st. Shareholders of record on Friday, November 30th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.28 annualized dividend and a yield of 0.40%. Navigators Group’s dividend payout ratio (DPR) is currently 24.14%.

A number of equities research analysts have weighed in on NAVG shares. Keefe, Bruyette & Woods set a $70.00 target price on Navigators Group and gave the company a “hold” rating in a research report on Wednesday, August 22nd. Zacks Investment Research downgraded Navigators Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 10th. ValuEngine upgraded Navigators Group from a “hold” rating to a “buy” rating in a report on Tuesday, October 2nd. BidaskClub upgraded Navigators Group from a “hold” rating to a “buy” rating in a report on Thursday, October 11th. Finally, Sandler O’Neill downgraded Navigators Group from a “buy” rating to a “hold” rating in a report on Thursday, September 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. Navigators Group has an average rating of “Hold” and a consensus price target of $65.67.

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

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