Y Intercept Hong Kong Ltd Purchases Shares of 16,448 Navient Co. (NASDAQ:NAVI)

Y Intercept Hong Kong Ltd purchased a new stake in shares of Navient Co. (NASDAQ:NAVIFree 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.

Check Out Our Latest Report on Navient

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:NAVIGet 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

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding NAVI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Navient Co. (NASDAQ:NAVIFree Report).

Institutional Ownership by Quarter for Navient (NASDAQ:NAVI)

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