State Treasurer State of Michigan lowered its stake in Navient Corp (NASDAQ:NAVI) by 5.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 77,600 shares of the credit services provider’s stock after selling 4,200 shares during the period. State Treasurer State of Michigan’s holdings in Navient were worth $898,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in NAVI. James Investment Research Inc. purchased a new position in shares of Navient in the fourth quarter worth about $1,030,000. Strs Ohio grew its holdings in Navient by 54.5% in the fourth quarter. Strs Ohio now owns 37,266 shares of the credit services provider’s stock valued at $328,000 after purchasing an additional 13,138 shares during the period. Zweig DiMenna Associates LLC acquired a new stake in Navient in the fourth quarter valued at approximately $109,000. Signition LP grew its holdings in Navient by 13.6% in the fourth quarter. Signition LP now owns 11,362 shares of the credit services provider’s stock valued at $100,000 after purchasing an additional 1,358 shares during the period. Finally, KBC Group NV grew its holdings in Navient by 9.1% in the fourth quarter. KBC Group NV now owns 22,362 shares of the credit services provider’s stock valued at $197,000 after purchasing an additional 1,871 shares during the period. Institutional investors and hedge funds own 95.44% of the company’s stock.
In other Navient news, EVP Stephen M. Hauber sold 9,000 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $13.63, for a total transaction of $122,670.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.85% of the company’s stock.
NASDAQ NAVI traded up $0.15 on Friday, reaching $13.11. 9,018 shares of the company were exchanged, compared to its average volume of 1,823,643. The firm has a market capitalization of $3.10 billion, a P/E ratio of 6.28, a price-to-earnings-growth ratio of 2.15 and a beta of 2.34. The company has a debt-to-equity ratio of 25.60, a quick ratio of 12.43 and a current ratio of 12.43. Navient Corp has a fifty-two week low of $8.23 and a fifty-two week high of $15.02.
Navient (NASDAQ:NAVI) last released its quarterly earnings data on Tuesday, April 23rd. The credit services provider reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.12. The company had revenue of $285.00 million for the quarter, compared to analyst estimates of $304.67 million. Navient had a return on equity of 15.10% and a net margin of 6.99%. During the same quarter in the previous year, the company posted $0.43 earnings per share. As a group, sell-side analysts forecast that Navient Corp will post 2.1 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 4.88%. The ex-dividend date is Thursday, June 6th. Navient’s dividend payout ratio (DPR) is currently 30.62%.
A number of analysts have recently issued reports on NAVI shares. BidaskClub raised Navient from a “hold” rating to a “buy” rating in a research note on Friday, January 25th. Oppenheimer reaffirmed a “hold” rating on shares of Navient in a research note on Friday, January 25th. Zacks Investment Research raised Navient from a “sell” rating to a “hold” rating in a research note on Monday, February 25th. ValuEngine raised Navient from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Finally, BMO Capital Markets lifted their price target on Navient from $14.00 to $16.00 and gave the stock a “market perform” rating in a research note on Thursday, April 25th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Navient currently has a consensus rating of “Buy” and a consensus target price of $15.21.
Navient Corporation provides education loan management and business processing solutions for education, healthcare, and government clients at the federal, state, and local levels in the United States. It operates in three segments: Federal Education Loans, Consumer Lending, and Business Processing. The company holds and acquires Federal Family Education Loan Program 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, and federal education loans owned by the United States Department of Education and other institutions.
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