Navient Co. (NASDAQ:NAVI) Position Cut by Northern Trust Corp
Northern Trust Corp lowered its holdings in shares of Navient Co. (NASDAQ:NAVI – Free Report) by 16.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,585,242 shares of the credit services provider’s stock after selling 313,915 shares during the period. Northern Trust Corp owned approximately 1.30% of Navient worth $29,454,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD raised its stake in shares of Navient by 0.7% during the second quarter. Price T Rowe Associates Inc. MD now owns 91,373 shares of the credit services provider’s stock valued at $1,278,000 after purchasing an additional 657 shares in the last quarter. Advisor Group Holdings Inc. lifted its stake in shares of Navient by 11.6% in the 4th quarter. Advisor Group Holdings Inc. now owns 7,646 shares of the credit services provider’s stock worth $125,000 after acquiring an additional 797 shares during the period. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Navient by 2.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 32,535 shares of the credit services provider’s stock valued at $604,000 after acquiring an additional 850 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its stake in shares of Navient by 7.2% during the first quarter. Mercer Global Advisors Inc. ADV now owns 13,154 shares of the credit services provider’s stock valued at $210,000 after acquiring an additional 881 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Navient by 2.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 46,486 shares of the credit services provider’s stock worth $743,000 after purchasing an additional 925 shares in the last quarter. Institutional investors and hedge funds own 94.85% of the company’s stock.
Insider Buying and Selling
In other Navient news, EVP Mark L. Heleen sold 10,000 shares of the company’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $16.99, for a total value of $169,900.00. Following the transaction, the executive vice president now directly owns 395,330 shares of the company’s stock, valued at approximately $6,716,656.70. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 22.10% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on the company. StockNews.com upgraded Navient from a “hold” rating to a “buy” rating in a research report on Monday, November 13th. Morgan Stanley dropped their price target on shares of Navient from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 3rd. Stephens reduced their price objective on shares of Navient from $20.00 to $16.00 and set an “equal weight” rating for the company in a research report on Thursday, October 26th. Jefferies Financial Group downgraded shares of Navient from a “buy” rating to a “hold” rating and dropped their target price for the stock from $22.00 to $16.00 in a report on Thursday, November 9th. Finally, Barclays began coverage on shares of Navient in a report on Wednesday, November 15th. They set an “equal weight” rating and a $17.00 target price for the company. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $17.23.
View Our Latest Stock Report on Navient
Navient Trading Down 0.4 %
Shares of NASDAQ NAVI opened at $17.77 on Thursday. The company has a current ratio of 12.81, a quick ratio of 12.81 and a debt-to-equity ratio of 18.95. Navient Co. has a one year low of $14.10 and a one year high of $19.69. The business has a 50-day moving average price of $16.98 and a two-hundred day moving average price of $17.51. The firm has a market capitalization of $2.09 billion, a PE ratio of 6.32 and a beta of 1.53.
Navient (NASDAQ:NAVI – Get Free Report) last announced its quarterly earnings data on Wednesday, October 25th. The credit services provider reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. Navient had a net margin of 7.49% and a return on equity of 14.61%. The firm had revenue of $280.00 million for the quarter, compared to the consensus estimate of $210.90 million. As a group, analysts predict that Navient Co. will post 3.44 earnings per share for the current fiscal year.
Navient Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend is Thursday, November 30th. Navient’s dividend payout ratio (DPR) is presently 22.78%.
About Navient (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 and asset recovery services on its own loan portfolio, as well as federal education loans held by other institutions.
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Original: MarketBeat News Feed: Navient Co. (NASDAQ:NAVI) Position Cut by Northern Trust Corp