Credit Suisse AG Decreases Stock Holdings in Navient Co. (NASDAQ:NAVI)

Credit Suisse AG trimmed its holdings in Navient Co. (NASDAQ:NAVI – Get Rating) by 2.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 140,468 shares of the credit services provider’s stock after selling 4,079 shares during the quarter. Credit Suisse AG owned about 0.10% of Navient worth $2,063,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in NAVI. Signaturefd LLC raised its position in shares of Navient by 89.2% during the 3rd quarter. Signaturefd LLC now owns 2,937 shares of the credit services provider’s stock valued at $43,000 after buying an additional 1,385 shares during the period. Covestor Ltd raised its position in shares of Navient by 87.4% during the 1st quarter. Covestor Ltd now owns 5,042 shares of the credit services provider’s stock valued at $86,000 after buying an additional 2,352 shares during the period. Wipfli Financial Advisors LLC purchased a new stake in Navient in the third quarter valued at approximately $88,000. Meeder Asset Management Inc. raised its position in Navient by 24.9% in the second 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 during the period. Finally, Quantinno Capital Management LP purchased a new stake in Navient in the third quarter valued at approximately $148,000. Hedge funds and other institutional investors own 70.48% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Citigroup boosted their target price on Navient from $15.00 to $19.00 and gave the company a “neutral” rating in a research report on Wednesday, February 1st. JPMorgan Chase & Co. boosted their price target on shares of Navient from $14.50 to $17.00 in a research note on Tuesday, January 10th. Morgan Stanley upgraded shares of Navient from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $14.00 to $16.00 in a research note on Thursday, December 1st. Barclays boosted their target price on shares of Navient from $16.00 to $19.00 in a research note on Friday, January 6th. Finally, Stephens lifted their price target on Navient from $17.00 to $20.00 in a report on Thursday, January 26th. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat.com, Navient presently has an average rating of “Hold” and an average target price of $17.40.

Navient Price Performance

Navient stock opened at $18.12 on Monday. Navient Co. has a 1 year low of $12.45 and a 1 year high of $19.34. The firm has a 50 day moving average price of $17.89 and a 200 day moving average price of $16.30. The company has a market cap of $2.34 billion, a price-to-earnings ratio of 4.10 and a beta of 1.53. The company has a debt-to-equity ratio of 20.50, a quick ratio of 12.32 and a current ratio of 11.42.

Navient (NASDAQ:NAVI – Get Rating) last announced its quarterly earnings results on Tuesday, January 24th. The credit services provider reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.06). The business had revenue of $232.00 million for the quarter, compared to analyst estimates of $253.74 million. Navient had a net margin of 16.80% and a return on equity of 16.40%. Sell-side analysts predict that Navient Co. will post 3.19 earnings per share for the current year.

Navient Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 17th. Shareholders of record on Friday, March 3rd will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, March 2nd. This represents a $0.64 dividend on an annualized basis and a yield of 3.53%. Navient’s dividend payout ratio (DPR) is 14.48%.

Insider Buying and Selling at Navient

In other news, EVP John M. Kane sold 17,006 shares of the business’s stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $16.56, for a total transaction of $281,619.36. Following the transaction, the executive vice president now directly owns 607,303 shares of the company’s stock, valued at $10,056,937.68. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Stephen M. Hauber sold 11,351 shares of the company’s stock in a transaction on Friday, January 27th. The shares were sold at an average price of $19.17, for a total value of $217,598.67. Following the sale, the executive vice president now directly owns 217,081 shares of the company’s stock, valued at $4,161,442.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John M. Kane sold 17,006 shares of the business’s stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $16.56, for a total transaction of $281,619.36. Following the sale, the executive vice president now owns 607,303 shares of the company’s stock, valued at approximately $10,056,937.68. The disclosure for this sale can be found here. 22.10% of the stock is currently owned by corporate insiders.

About Navient

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Navient Corp. engages in the provision of asset management and business processing solutions for education, healthcare and government clients at the federal, state and local levels. It operates through the following segments: Federal Education Loans, Consumer Lending, Business Processing and Other. The Federal Education Loans segment owns FFELP Loans and performs servicing and asset recovery services on FFELP Loan portfolio.