Texas Permanent School Fund Corp lowered its position in Navient Co. (NASDAQ:NAVI – Free Report) by 4.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 86,842 shares of the credit services provider’s stock after selling 3,813 shares during the quarter. Texas Permanent School Fund Corp owned approximately 0.07% of Navient worth $1,614,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC purchased a new position in Navient in the second quarter worth approximately $27,000. Quarry LP lifted its stake in Navient by 299.1% in the first quarter. Quarry LP now owns 2,530 shares of the credit services provider’s stock worth $40,000 after acquiring an additional 1,896 shares during the last quarter. State of Wyoming purchased a new position in Navient in the fourth quarter worth approximately $62,000. Signaturefd LLC lifted its stake in Navient by 33.0% in the second quarter. Signaturefd LLC now owns 4,498 shares of the credit services provider’s stock worth $84,000 after acquiring an additional 1,116 shares during the last quarter. Finally, Covestor Ltd lifted its stake in Navient by 87.4% in the first quarter. Covestor Ltd now owns 5,042 shares of the credit services provider’s stock worth $86,000 after acquiring an additional 2,352 shares during the last quarter. Hedge funds and other institutional investors own 94.85% of the company’s stock.
Navient Stock Up 0.4 %
NAVI stock opened at $16.62 on Friday. The company has a fifty day moving average price of $16.99 and a 200 day moving average price of $17.30. Navient Co. has a 12 month low of $14.10 and a 12 month high of $19.69. The company has a market cap of $1.95 billion, a price-to-earnings ratio of 5.91 and a beta of 1.55. The company has a debt-to-equity ratio of 18.95, a current ratio of 12.81 and a quick ratio of 12.81.
Navient Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a $0.16 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.64 annualized dividend and a yield of 3.85%. Navient’s dividend payout ratio is currently 22.78%.
Insider Buying and Selling at Navient
In other Navient news, EVP Mark L. Heleen sold 10,000 shares of the business’s stock in a transaction on Tuesday, November 7th. The shares were 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 filing with the Securities & Exchange Commission, which is accessible through this link. 26.93% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
NAVI has been the subject of several recent analyst reports. Barclays initiated coverage on shares of Navient in a research report on Wednesday. They set an “equal weight” rating and a $17.00 price objective for the company. StockNews.com upgraded shares of Navient from a “hold” rating to a “buy” rating in a research report on Monday, November 13th. 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. Compass Point reduced their price objective on shares of Navient from $19.00 to $18.00 and set a “neutral” rating for the company in a research report on Tuesday, August 1st. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Navient from $19.50 to $18.00 and set an “underweight” rating for the company in a research report on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $17.23.
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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