Creative Planning Raises Holdings in Navient Co. (NASDAQ:NAVI)

Creative Planning grew its stake in Navient Co. (NASDAQ:NAVI) by 32.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 55,387 shares of the credit services provider’s stock after buying an additional 13,497 shares during the quarter. Creative Planning owned 0.05% of Navient worth $863,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jupiter Asset Management Ltd. purchased a new position in Navient in the first quarter worth approximately $4,813,000. State Board of Administration of Florida Retirement System increased its holdings in Navient by 178.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 73,578 shares of the credit services provider’s stock valued at $1,177,000 after buying an additional 47,189 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in Navient by 265.4% in the first quarter. BNP Paribas Financial Markets now owns 128,690 shares of the credit services provider’s stock valued at $2,239,000 after buying an additional 93,469 shares during the last quarter. Quest Partners LLC raised its stake in Navient by 102,163.1% in the second quarter. Quest Partners LLC now owns 85,901 shares of the credit services provider’s stock valued at $1,251,000 after buying an additional 85,817 shares in the last quarter. Finally, UniSuper Management Pty Ltd purchased a new stake in Navient during the 1st quarter worth about $344,000. Hedge funds and other institutional investors own 97.14% of the company’s stock.

Navient Trading Down 1.7 %

NASDAQ NAVI opened at $13.99 on Friday. The firm’s fifty day moving average is $15.58 and its two-hundred day moving average is $15.29. Navient Co. has a one year low of $13.95 and a one year high of $19.68. The company has a debt-to-equity ratio of 16.59, a quick ratio of 9.99 and a current ratio of 9.49. The firm has a market cap of $1.50 billion, a PE ratio of 20.28 and a beta of 1.39.

Navient Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 4.57%. The ex-dividend date of this dividend was Friday, September 6th. Navient’s dividend payout ratio (DPR) is presently 92.75%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Barclays raised their target price on Navient from $10.00 to $11.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 8th. Bank of America initiated coverage on shares of Navient in a report on Monday, September 30th. They set a “neutral” rating and a $17.00 price objective on the stock. StockNews.com upgraded shares of Navient from a “hold” rating to a “buy” rating in a report on Friday. 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. Finally, JPMorgan Chase & Co. upped their price objective on shares of Navient from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, October 7th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $15.78.

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.