Navient Co. (NASDAQ:NAVI) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System cut its stake in shares of Navient Co. (NASDAQ:NAVIGet Rating) by 7.2% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 179,922 shares of the credit services provider’s stock after selling 13,862 shares during the period. New York State Teachers Retirement System owned approximately 0.13% of Navient worth $2,643,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NAVI. Carolina Wealth Advisors LLC raised its position in shares of Navient by 15.5% in the 2nd quarter. Carolina Wealth Advisors LLC now owns 4,974 shares of the credit services provider’s stock valued at $70,000 after purchasing an additional 667 shares in the last quarter. Covestor Ltd raised its position in shares of Navient by 87.4% in the 1st quarter. Covestor Ltd now owns 5,042 shares of the credit services provider’s stock valued at $86,000 after purchasing an additional 2,352 shares in the last quarter. Wipfli Financial Advisors LLC acquired a new position in shares of Navient in the 3rd quarter valued at approximately $88,000. Meeder Asset Management Inc. raised its position in shares of Navient by 24.9% in the 2nd quarter. Meeder Asset Management Inc. now owns 6,848 shares of the credit services provider’s stock valued at $96,000 after purchasing an additional 1,367 shares in the last quarter. Finally, Meritage Portfolio Management acquired a new position in shares of Navient in the 3rd quarter valued at approximately $151,000. 70.48% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP John M. Kane sold 17,006 shares of the company’s stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $16.56, for a total transaction of $281,619.36. Following the completion of the transaction, the executive vice president now directly owns 607,303 shares in the company, valued at approximately $10,056,937.68. The sale was disclosed in a document filed with the SEC, which is available through this link. 22.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. upped their target price on Navient from $14.50 to $17.00 in a research report on Tuesday, January 10th. StockNews.com raised Navient from a “hold” rating to a “buy” rating in a research report on Tuesday, November 8th. Morgan Stanley raised Navient from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $14.00 to $16.00 in a research report on Thursday, December 1st. Credit Suisse Group dropped their price target on Navient to $14.00 in a research report on Thursday, October 27th. Finally, Citigroup dropped their price target on Navient from $18.00 to $15.00 in a research report on Thursday, October 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $16.06.

Navient Stock Performance

NAVI stock opened at $17.44 on Wednesday. The firm has a market cap of $2.37 billion, a P/E ratio of 4.89 and a beta of 1.52. The stock’s 50 day simple moving average is $16.52 and its 200 day simple moving average is $15.67. The company has a current ratio of 12.32, a quick ratio of 12.32 and a debt-to-equity ratio of 21.53. Navient Co. has a 12-month low of $12.45 and a 12-month high of $21.88.

Navient (NASDAQ:NAVIGet Rating) last issued its quarterly earnings data on Tuesday, October 25th. The credit services provider reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.02). The company had revenue of $247.00 million for the quarter, compared to the consensus estimate of $279.19 million. Navient had a return on equity of 10.97% and a net margin of 15.08%. As a group, equities research analysts predict that Navient Co. will post 3.39 EPS for the current year.

Navient Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 16th. Investors of record on Friday, December 2nd were paid a dividend of $0.16 per share. The ex-dividend date was Thursday, December 1st. This represents a $0.64 dividend on an annualized basis and a yield of 3.67%. Navient’s payout ratio is currently 17.93%.

About Navient

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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 through three segments: Federal Education Loans, Consumer Lending, and Business Processing.

See Also

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Institutional Ownership by Quarter for Navient (NASDAQ:NAVI)

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