Noteworthy Price Action: What’s Propelling Navigators Group Inc to Reach 52-Week High?

Noteworthy Price Action: What's Propelling Navigators Group Inc to Reach 52 Week High?

The stock of Navigators Group Inc (NASDAQ:NAVG) hit a new 52-week high and has $112.46 target or 5.00% above today’s $107.10 share price. The 8 months bullish chart indicates low risk for the $1.57B company. The 1-year high was reported on Nov, 25 by Barchart.com. If the $112.46 price target is reached, the company will be worth $78.50 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 2.44% or $2.55 during the last trading session, hitting $107.1. About 21,588 shares traded hands. Navigators Group Inc (NASDAQ:NAVG) has risen 26.94% since April 22, 2016 and is uptrending. It has outperformed by 21.53% the S&P500.

Analysts await Navigators Group Inc (NASDAQ:NAVG) to report earnings on February, 8. They expect $1.23 earnings per share, down 7.52% or $0.10 from last year’s $1.33 per share. NAVG’s profit will be $18.03 million for 21.77 P/E if the $1.23 EPS becomes a reality. After $1.40 actual earnings per share reported by Navigators Group Inc for the previous quarter, Wall Street now forecasts -12.14% negative EPS growth.

Navigators Group Inc (NASDAQ:NAVG) Ratings Coverage

Out of 2 analysts covering Navigators Group (NASDAQ:NAVG), 0 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 0 are positive. Navigators Group has been the topic of 2 analyst reports since May 27, 2016 according to StockzIntelligence Inc. The stock of Navigators Group Inc (NASDAQ:NAVG) earned “Market Perform” rating by Wood on Friday, May 27. The firm has “Hold” rating given on Monday, November 7 by Sandler O’Neill.

According to Zacks Investment Research, “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.”

Insitutional Activity: The institutional sentiment decreased to 0.94 in 2016 Q2. Its down 0.94, from 1.88 in 2016Q1. The ratio fall, as 7 funds sold all Navigators Group Inc shares owned while 35 reduced positions. 17 funds bought stakes while 62 increased positions. They now own 10.53 million shares or 1.63% less from 10.70 million shares in 2016Q1.
Comerica Bank & Trust reported 74,320 shares or 0.06% of all its holdings. Arizona State Retirement Systems has invested 0.01% of its portfolio in Navigators Group Inc (NASDAQ:NAVG). Jennison Assocs Lc last reported 11,771 shares in the company. Moreover, Renaissance Technologies Ltd Liability has 0.02% invested in Navigators Group Inc (NASDAQ:NAVG) for 125,246 shares. Vulcan Value Prns Ltd Company has invested 0.92% of its portfolio in Navigators Group Inc (NASDAQ:NAVG). Manufacturers Life Insurance The, a Ontario – Canada-based fund reported 7,693 shares. Gray Grp Ga Adv Adv reported 2,690 shares or 0% of all its holdings. Barclays Public Limited Liability Corp holds 0% or 12,814 shares in its portfolio. Aqr Cap Llc owns 80,731 shares or 0.01% of their US portfolio. The California-based Wells Fargo & Com Mn has invested 0% in Navigators Group Inc (NASDAQ:NAVG). Blackrock Incorporated last reported 0% of its portfolio in the stock. Pine River Lp reported 11,700 shares or 0.01% of all its holdings. Millennium Mngmt Limited Liability Company last reported 0.01% of its portfolio in the stock. Martingale Asset Management Ltd Partnership accumulated 8,304 shares or 0.01% of the stock. Pinebridge Invests Lp last reported 1,401 shares in the company.

Insider Transactions: Since August 25, 2016, the stock had 0 buys, and 3 sales for $839,401 net activity. $374,880 worth of Navigators Group Inc (NASDAQ:NAVG) shares were sold by Saunders Jeff L. EISDORFER R SCOTT also sold $209,387 worth of Navigators Group Inc (NASDAQ:NAVG) on Friday, November 11.

More news for Navigators Group Inc (NASDAQ:NAVG) were recently published by: Nasdaq.com, which released: “The Navigators Group, Inc. (NAVG) Ex-Dividend Date Scheduled for November 16, 2016” on November 15, 2016. Nasdaq.com‘s article titled: “Ex-Dividend Reminder: Navigators Group, Diebold and FLIR Systems” and published on November 14, 2016 is yet another important article.

NAVG Company Profile

The Navigators Group, Inc., incorporated on November 12, 1982, is a holding company. The Firm is an international insurance firm focused on marine insurance. The Company’s divisions are U.S. Insurance, International Insurance (Int’l Insurance), Global Reinsurance (GlobalRe) and Corporate. The Company’s Property and Casualty (P&C) insurance business primarily offers general liability coverage, and umbrella and excess liability coverage to commercial enterprises through its Primary and Excess Casualty divisions. The Firm also offers reinsurance products through its GlobalRe business. The Firm operates through various subsidiaries, including Navigators Insurance Company (NIC), inclusive of its United Kingdom Branch and Navigators Specialty Insurance Company (NSIC), both of which are the Unites States insurance companies, and Navigators Underwriting Agency Ltd., a Lloyd’s of London (Lloyd’s) underwriting agency that manages Lloyd’s Syndicate 1221 (the Syndicate) in the United Kingdom. The Firm distributes its products through international, national and regional, retail and wholesale insurance brokers. The Company’s U.S. Insurance and Int’l Insurance divisions consist of three operating divisions, such as Marine, P&C and Professional Liability.

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