Navient Co. (NASDAQ:NAVI) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC cut its holdings in shares of Navient Co. (NASDAQ:NAVIFree Report) by 8.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 37,550 shares of the credit services provider’s stock after selling 3,635 shares during the period. Corient Private Wealth LLC’s holdings in Navient were worth $699,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of NAVI. PNC Financial Services Group Inc. increased its position in shares of 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 valued at $90,000 after buying an additional 607 shares in the last quarter. CI Investments Inc. lifted its holdings in Navient by 5,209.1% during the third quarter. CI Investments Inc. now owns 9,291 shares of the credit services provider’s stock valued at $160,000 after purchasing an additional 9,116 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of Navient by 1,762.0% in the fourth quarter. International Assets Investment Management LLC now owns 9,310 shares of the credit services provider’s stock valued at $173,000 after purchasing an additional 8,810 shares during the period. Dimension Capital Management LLC purchased a new stake in shares of Navient during the third quarter worth about $195,000. Finally, Pathstone Family Office LLC raised its position in shares of Navient by 9.8% during 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 last quarter. Hedge funds and other institutional investors own 97.14% of the company’s stock.

Insider Activity

In related news, EVP Mark L. Heleen sold 10,000 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $16.00, for a total transaction of $160,000.00. Following the completion of the transaction, the executive vice president now owns 393,611 shares of the company’s stock, valued at approximately $6,297,776. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 27.99% of the company’s stock.

Analyst Ratings Changes

NAVI has been the topic of several research analyst reports. Barclays lowered their price objective on Navient from $13.00 to $11.00 and set an “underweight” rating on the stock in a report on Thursday, April 25th. JPMorgan Chase & Co. dropped their price target on Navient from $17.00 to $16.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. TD Cowen lowered their target price on shares of Navient from $14.00 to $13.00 and set a “sell” rating on the stock in a research note on Friday, April 26th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Navient from $19.00 to $17.00 and set a “market perform” rating for the company in a research report on Thursday, April 25th. Three analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $16.10.

Read Our Latest Research Report on NAVI

Navient Stock Down 1.6 %

Shares of NASDAQ NAVI opened at $14.73 on Wednesday. The company has a market capitalization of $1.65 billion, a P/E ratio of 9.44 and a beta of 1.40. The company has a debt-to-equity ratio of 18.38, a current ratio of 12.52 and a quick ratio of 12.52. The company has a 50 day simple moving average of $15.92 and a 200-day simple moving average of $16.80. Navient Co. has a 1 year low of $14.10 and a 1 year high of $19.69.

Navient (NASDAQ:NAVIGet Free Report) last posted its earnings results on Wednesday, April 24th. The credit services provider reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. The company had revenue of $163.00 million for 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%. On average, equities research analysts predict that Navient Co. will post 1.66 earnings per share for the current year.

Navient Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date of this dividend is Friday, June 7th. Navient’s dividend payout ratio is presently 41.03%.

Navient Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Navient (NASDAQ:NAVI)

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