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KBW Maintains Market Perform on Navigators Group

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KBW is out with its report on Navigators Group (NASDAQ: NAVG), maintaining Market Perform.

In its report, KBW writes, "Results missed on a higher current AY LR, modest reserve additions and higher taxes, partially offset by stronger NWP volume and slightly higher net investment income, while the ER was in-line. BVPS grew a strong 4.1% sequentially to $54.44, above forecast. We are lowering 2011/2012 EPS but maintain our $49 PT and Market Perform rating."

Shares of NAVG closed Thursday at $44.35, down 4.25% from Wednesday's close.

Posted-In: KBWAnalyst Color Analyst Ratings

 

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