Zurcher Kantonalbank Zurich Cantonalbank Decreases Holdings in Navient Co. (NASDAQ:NAVI)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in Navient Co. (NASDAQ:NAVI) by 11.4% in the fourth quarter, HoldingsChannel reports. The fund owned 19,675 shares of the credit services provider’s stock after selling 2,540 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Navient were worth $366,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. PNC Financial Services Group Inc. lifted its stake in Navient by 13.1% in the third quarter. PNC Financial Services Group Inc. now owns 5,236 shares of the credit services provider’s stock worth $90,000 after purchasing an additional 607 shares during the last quarter. CI Investments Inc. lifted its stake in shares of Navient by 5,209.1% in the 3rd quarter. CI Investments Inc. now owns 9,291 shares of the credit services provider’s stock valued at $160,000 after acquiring an additional 9,116 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in Navient by 1,762.0% during the 4th quarter. International Assets Investment Management LLC now owns 9,310 shares of the credit services provider’s stock valued at $173,000 after acquiring an additional 8,810 shares during the period. Dimension Capital Management LLC bought a new position in Navient during the 3rd quarter worth approximately $195,000. Finally, Pathstone Family Office LLC increased its stake in Navient by 9.8% in the 3rd quarter. Pathstone Family Office LLC now owns 11,542 shares of the credit services provider’s stock worth $199,000 after purchasing an additional 1,029 shares during the period. Hedge funds and other institutional investors own 97.14% of the company’s stock.

Analyst Ratings Changes

NAVI has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft assumed coverage on Navient in a research note on Wednesday, January 10th. They set a “hold” rating and a $19.00 price objective for the company. Keefe, Bruyette & Woods cut their price target on shares of Navient from $19.00 to $17.00 and set a “market perform” rating on the stock in a report on Thursday, April 25th. StockNews.com downgraded shares of Navient from a “buy” rating to a “hold” rating in a research note on Thursday, February 1st. JPMorgan Chase & Co. cut their target price on Navient from $17.00 to $16.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Finally, TD Cowen lowered their price target on Navient from $14.00 to $13.00 and set a “sell” rating for the company in a research report on Friday, April 26th. Three analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $16.10.

Navient Stock Up 3.5 %

Shares of NASDAQ:NAVI opened at $15.98 on Friday. The firm has a market capitalization of $1.79 billion, a P/E ratio of 10.24 and a beta of 1.39. The company has a debt-to-equity ratio of 18.38, a quick ratio of 12.52 and a current ratio of 12.52. The stock has a 50 day moving average price of $16.47 and a 200-day moving average price of $17.01. Navient Co. has a 52-week low of $14.10 and a 52-week high of $19.69.

Navient (NASDAQ:NAVI) last posted its quarterly earnings data on Wednesday, April 24th. The credit services provider reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. The business had revenue of $163.00 million during the quarter, compared to the consensus estimate of $188.04 million. Navient had a return on equity of 12.09% and a net margin of 3.93%. As a group, equities research analysts anticipate that Navient Co. will post 1.66 EPS for the current fiscal year.

Navient Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 4.01%. The ex-dividend date was Thursday, February 29th. Navient’s payout ratio is currently 41.03%.

About Navient

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 on its portfolios, as well as federal education loans held by other institutions.