Y Intercept Hong Kong Ltd purchased a new stake in shares of Navient Co. (NASDAQ:NAVI – Free Report) in the third quarter, HoldingsChannel.com reports. The firm purchased 16,448 shares of the credit services provider’s stock, valued at approximately $256,000.
A number of other institutional investors have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its holdings in Navient by 1.6% in the second quarter. The Manufacturers Life Insurance Company now owns 46,534 shares of the credit services provider’s stock valued at $678,000 after purchasing an additional 722 shares during the last quarter. Signaturefd LLC boosted its holdings in Navient by 22.1% in the second quarter. Signaturefd LLC now owns 4,797 shares of the credit services provider’s stock valued at $70,000 after purchasing an additional 869 shares during the last quarter. Wedge Capital Management L L P NC boosted its holdings in Navient by 2.7% in the third quarter. Wedge Capital Management L L P NC now owns 45,584 shares of the credit services provider’s stock valued at $711,000 after purchasing an additional 1,218 shares during the last quarter. KBC Group NV boosted its holdings in Navient by 47.0% in the third quarter. KBC Group NV now owns 4,355 shares of the credit services provider’s stock valued at $68,000 after purchasing an additional 1,392 shares during the last quarter. Finally, Xponance Inc. boosted its holdings in Navient by 11.5% in the second quarter. Xponance Inc. now owns 13,944 shares of the credit services provider’s stock valued at $203,000 after purchasing an additional 1,440 shares during the last quarter. Hedge funds and other institutional investors own 97.14% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on NAVI shares. StockNews.com raised Navient from a “hold” rating to a “buy” rating in a report on Friday, November 1st. JPMorgan Chase & Co. cut their price objective on Navient from $15.50 to $15.00 and set a “neutral” rating on the stock in a research note on Monday, December 9th. TD Cowen cut their price objective on Navient from $14.00 to $13.00 and set a “sell” rating on the stock in a research note on Friday, November 1st. Bank of America began coverage on Navient in a research note on Monday, September 30th. They set a “neutral” rating and a $17.00 price objective on the stock. Finally, Barclays upped their price objective on Navient from $10.00 to $11.00 and gave the company an “underweight” rating in a research note on Tuesday, October 8th. Three analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $15.63.
Navient Stock Performance
Shares of NAVI stock opened at $13.89 on Thursday. Navient Co. has a 12-month low of $13.71 and a 12-month high of $19.44. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of 20.13 and a beta of 1.40. The business has a 50 day simple moving average of $15.16 and a 200 day simple moving average of $15.18. The company has a debt-to-equity ratio of 16.59, a current ratio of 9.49 and a quick ratio of 9.49.
Navient (NASDAQ:NAVI – Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The credit services provider reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $1.20. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $150.04 million. Navient had a return on equity of 8.62% and a net margin of 1.71%. During the same period last year, the company posted $0.84 EPS. On average, equities research analysts anticipate that Navient Co. will post 2.47 EPS for the current year.
Navient Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 4.61%. The ex-dividend date of this dividend is Friday, December 6th. Navient’s payout ratio is currently 92.75%.
Insider Buying and Selling at Navient
In other news, EVP Stephen M. Hauber sold 10,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $15.00, for a total transaction of $150,000.00. Following the completion of the sale, the executive vice president now directly owns 256,883 shares of the company’s stock, valued at $3,853,245. This trade represents a 3.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 27.99% of the stock is currently owned by corporate insiders.
Navient Company Profile
Navient Corporation provides technology-enabled education finance and business processing solutions for education, health care, and government clients in the United States. It operates through three segments: Federal Education Loans, Consumer Lending, and Business Processing. The company owns Federal Family Education Loan Program (FFELP) loans that are insured or guaranteed by state or not-for-profit agencies; and performs servicing on its portfolios, as well as federal education loans held by other institutions.
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