State of Alaska Department of Revenue Trims Stock Holdings in Navient Co. (NASDAQ:NAVI)

State of Alaska Department of Revenue cut its stake in shares of Navient Co. (NASDAQ:NAVIFree Report) by 4.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 50,002 shares of the credit services provider’s stock after selling 2,076 shares during the quarter. State of Alaska Department of Revenue’s holdings in Navient were worth $870,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Denali Advisors LLC bought a new position in Navient in the 4th quarter worth $2,441,000. Bridgeway Capital Management LLC grew its position in shares of Navient by 8.8% during the fourth quarter. Bridgeway Capital Management LLC now owns 811,826 shares of the credit services provider’s stock worth $15,116,000 after purchasing an additional 65,576 shares in the last quarter. Quest Partners LLC bought a new stake in Navient during the 4th quarter valued at approximately $394,000. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in Navient in the 4th quarter worth approximately $13,546,000. Finally, Caxton Associates LP lifted its holdings in Navient by 126.6% in the 4th quarter. Caxton Associates LP now owns 103,807 shares of the credit services provider’s stock worth $1,933,000 after purchasing an additional 58,002 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 analysts recently weighed in on NAVI shares. Keefe, Bruyette & Woods dropped their target price on shares of Navient from $17.00 to $15.00 and set a “market perform” rating for the company in a research report on Monday. Barclays cut their price objective on Navient from $11.00 to $10.00 and set an “underweight” rating for the company in a research report on Tuesday. TD Cowen decreased their target price on Navient from $14.00 to $13.00 and set a “sell” rating on the stock in a research report on Friday, April 26th. Finally, JPMorgan Chase & Co. cut their price target on Navient from $16.00 to $15.00 and set a “neutral” rating for the company in a report on Monday. Three investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $15.70.

Check Out Our Latest Report on NAVI

Insider Buying and Selling at Navient

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

Navient Price Performance

Shares of Navient stock opened at $14.10 on Wednesday. The stock has a 50 day moving average price of $14.84 and a 200-day moving average price of $16.16. Navient Co. has a one year low of $13.96 and a one year high of $19.69. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of 9.04 and a beta of 1.40. The company has a debt-to-equity ratio of 18.38, a quick ratio of 12.52 and a current ratio of 12.52.

Navient (NASDAQ:NAVIGet Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The credit services provider reported $0.63 EPS 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 company had revenue of $163.00 million during the quarter, compared to analyst estimates of $188.04 million. Equities analysts expect that Navient Co. will post 1.65 EPS for the current year.

Navient Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 4.54%. The ex-dividend date was Friday, June 7th. Navient’s payout ratio is currently 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.

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Institutional Ownership by Quarter for Navient (NASDAQ:NAVI)

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