Geode Capital Management LLC Sells 60,461 Shares of Navient Corporation $NAVI

Geode Capital Management LLC cut its holdings in Navient Corporation (NASDAQ:NAVI) by 3.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,792,828 shares of the credit services provider’s stock after selling 60,461 shares during the quarter. Geode Capital Management LLC owned approximately 1.80% of Navient worth $25,281,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Quantbot Technologies LP bought a new position in shares of Navient in the first quarter worth about $40,000. New Age Alpha Advisors LLC bought a new position in Navient in the 1st quarter valued at approximately $71,000. Covestor Ltd boosted its position in Navient by 15.7% in the first quarter. Covestor Ltd now owns 7,303 shares of the credit services provider’s stock valued at $92,000 after buying an additional 993 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Navient during the first quarter worth $129,000. Finally, Harbor Capital Advisors Inc. grew its stake in shares of Navient by 9.5% during the second quarter. Harbor Capital Advisors Inc. now owns 11,620 shares of the credit services provider’s stock worth $164,000 after buying an additional 1,012 shares during the last quarter. Institutional investors and hedge funds own 97.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. dropped their price target on Navient from $14.00 to $12.50 and set a “neutral” rating for the company in a research note on Thursday, October 30th. Wall Street Zen lowered Navient from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Keefe, Bruyette & Woods reduced their price target on Navient from $15.00 to $14.50 and set a “market perform” rating on the stock in a report on Wednesday, October 1st. Bank of America lowered shares of Navient from a “neutral” rating to an “underperform” rating and set a $12.00 price objective for the company. in a report on Thursday, September 4th. Finally, Cowen reissued a “sell” rating on shares of Navient in a report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $12.83.

Navient Stock Performance

Shares of NAVI stock opened at $12.39 on Friday. The stock has a market capitalization of $1.21 billion, a PE ratio of -22.94 and a beta of 1.33. The business’s 50 day simple moving average is $12.36 and its 200 day simple moving average is $13.20. The company has a debt-to-equity ratio of 16.98, a current ratio of 9.41 and a quick ratio of 9.41. Navient Corporation has a one year low of $10.53 and a one year high of $16.07.

Navient (NASDAQ:NAVI) last released its quarterly earnings results on Monday, February 28th. The credit services provider reported $0.97 earnings per share (EPS) for the quarter. Navient had a negative net margin of 1.48% and a positive return on equity of 4.12%. The firm had revenue of $511.00 million during the quarter. As a group, research analysts forecast that Navient Corporation will post 1.04 earnings per share for the current year.

Navient Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $0.64 dividend on an annualized basis and a yield of 5.2%. Navient’s dividend payout ratio is -118.52%.

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.