Franklin Resources Inc. Reduces Position in Navient Co. (NASDAQ:NAVI)

Franklin Resources Inc. decreased its holdings in Navient Co. (NASDAQ:NAVIFree Report) by 2.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 59,667 shares of the credit services provider’s stock after selling 1,710 shares during the period. Franklin Resources Inc. owned approximately 0.05% of Navient worth $1,111,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. PNC Financial Services Group Inc. increased its holdings 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 purchasing an additional 607 shares during the last quarter. CI Investments Inc. increased its holdings in 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 purchasing an additional 9,116 shares during the last quarter. International Assets Investment Management LLC increased its holdings in Navient by 1,762.0% in 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 purchasing an additional 8,810 shares during the last quarter. Dimension Capital Management LLC purchased a new stake in Navient in the third quarter valued at approximately $195,000. Finally, Pathstone Family Office LLC lifted its stake in Navient by 9.8% during the third 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 in the last quarter. 97.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on NAVI shares. Barclays dropped their price objective on Navient from $13.00 to $11.00 and set an “underweight” rating for the company in a research note on Thursday, April 25th. TD Cowen cut their price target 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. Keefe, Bruyette & Woods cut their target price on shares of Navient from $19.00 to $17.00 and set a “market perform” rating on the stock in a research note on Thursday, April 25th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Navient from $17.00 to $16.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Three investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to data from MarketBeat, Navient has a consensus rating of “Hold” and an average price target of $16.10.

View Our Latest Research Report on NAVI

Insider Transactions at Navient

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

Navient Price Performance

Shares of NAVI opened at $14.61 on Thursday. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of 9.37 and a beta of 1.40. The company has a current ratio of 12.52, a quick ratio of 12.52 and a debt-to-equity ratio of 18.38. The firm’s fifty day simple moving average is $15.87 and its 200-day simple moving average is $16.78. Navient Co. has a twelve month low of $14.10 and a twelve month high of $19.69.

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

Navient Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, June 7th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 4.38%. The ex-dividend date of this dividend is Friday, June 7th. Navient’s payout ratio is currently 41.03%.

About Navient

(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.

Recommended Stories

Want to see what other hedge funds are holding NAVI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Navient Co. (NASDAQ:NAVIFree Report).

Institutional Ownership by Quarter for Navient (NASDAQ:NAVI)

Receive News & Ratings for Navient Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Navient and related companies with MarketBeat.com's FREE daily email newsletter.