Navient Co. (NASDAQ:NAVI) Shares Sold by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV reduced its position in Navient Co. (NASDAQ:NAVI) by 5.7% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 15,678 shares of the credit services provider’s stock after selling 947 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Navient were worth $228,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new position in shares of Navient during the 1st quarter worth $36,000. IAG Wealth Partners LLC purchased a new position in Navient in the 2nd quarter valued at about $50,000. Signaturefd LLC lifted its holdings in Navient by 22.1% in the 2nd quarter. Signaturefd LLC now owns 4,797 shares of the credit services provider’s stock valued at $70,000 after purchasing an additional 869 shares in the last quarter. Covestor Ltd lifted its holdings in Navient by 23.1% in the 1st quarter. Covestor Ltd now owns 6,245 shares of the credit services provider’s stock valued at $109,000 after purchasing an additional 1,173 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in Navient by 83.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 13,107 shares of the credit services provider’s stock valued at $191,000 after purchasing an additional 5,977 shares in the last quarter. 97.14% of the stock is owned by institutional investors and hedge funds.

Navient Trading Up 1.1 %

Shares of NASDAQ NAVI opened at $15.59 on Tuesday. The firm has a market capitalization of $1.74 billion, a PE ratio of 9.99 and a beta of 1.39. The company has a current ratio of 9.99, a quick ratio of 9.99 and a debt-to-equity ratio of 17.30. Navient Co. has a one year low of $13.95 and a one year high of $19.68. The business has a 50-day moving average price of $15.59 and a two-hundred day moving average price of $15.54.

Navient (NASDAQ:NAVI) last posted its earnings results on Wednesday, July 24th. The credit services provider reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.14). Navient had a return on equity of 11.06% and a net margin of 3.41%. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $157.27 million. During the same quarter last year, the firm posted $0.70 earnings per share. As a group, analysts predict that Navient Co. will post 1.43 earnings per share for the current fiscal year.

Navient Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 4.11%. The ex-dividend date of this dividend was Friday, September 6th. Navient’s dividend payout ratio is currently 41.03%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on NAVI shares. Keefe, Bruyette & Woods increased their price objective on shares of Navient from $15.00 to $16.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. Barclays lowered their price objective on shares of Navient from $11.00 to $10.00 and set an “underweight” rating for the company in a research report on Tuesday, July 9th. Bank of America initiated coverage on shares of Navient in a research report on Monday. They set a “neutral” rating and a $17.00 price target for the company. Finally, JPMorgan Chase & Co. decreased their price target on shares of Navient from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Monday, July 8th. Three analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to MarketBeat.com, Navient presently has an average rating of “Hold” and a consensus target price of $15.70.

Navient Profile

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.