Healthcare of Ontario Pension Plan Trust Fund Makes New $511,000 Investment in Navient Co. (NASDAQ:NAVI)

Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Navient Co. (NASDAQ:NAVI) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 32,800 shares of the credit services provider’s stock, valued at approximately $511,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. IAG Wealth Partners LLC acquired a new stake in shares of Navient in the 2nd quarter valued at $50,000. KBC Group NV increased its position in Navient by 47.0% in the third quarter. KBC Group NV now owns 4,355 shares of the credit services provider’s stock worth $68,000 after purchasing an additional 1,392 shares during the period. Signaturefd LLC raised its holdings in Navient by 22.1% during the 2nd quarter. Signaturefd LLC now owns 4,797 shares of the credit services provider’s stock worth $70,000 after purchasing an additional 869 shares during the last quarter. nVerses Capital LLC bought a new position in shares of Navient in the 3rd quarter valued at about $87,000. Finally, Harbor Capital Advisors Inc. acquired a new stake in shares of Navient during the 3rd quarter worth approximately $95,000. Institutional investors and hedge funds own 97.14% of the company’s stock.

Insider Activity

In other Navient news, EVP Stephen M. Hauber sold 10,000 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $15.00, for a total value of $150,000.00. Following the completion of the sale, the executive vice president now owns 256,883 shares in the company, valued at $3,853,245. This trade represents a 3.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 27.99% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on NAVI shares. StockNews.com upgraded shares of Navient from a “hold” rating to a “buy” rating in a report on Friday, November 1st. TD Cowen cut their target price on Navient from $14.00 to $13.00 and set a “sell” rating on the stock in a research note on Friday, November 1st. JPMorgan Chase & Co. boosted their target price on Navient from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Monday, October 7th. Bank of America initiated coverage on shares of Navient in a research note on Monday, September 30th. They set a “neutral” rating and a $17.00 price objective on the stock. Finally, Barclays increased their target price on shares of Navient from $10.00 to $11.00 and gave the stock an “underweight” rating in a report on Tuesday, October 8th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $15.75.

Navient Stock Down 1.9 %

Navient stock opened at $15.28 on Tuesday. Navient Co. has a twelve month low of $13.71 and a twelve month high of $19.68. The company has a quick ratio of 9.49, a current ratio of 9.49 and a debt-to-equity ratio of 16.59. The company has a 50 day moving average of $15.25 and a 200-day moving average of $15.19. The stock has a market capitalization of $1.64 billion, a PE ratio of 22.15 and a beta of 1.39.

Navient (NASDAQ:NAVI) last released its quarterly earnings results on Wednesday, October 30th. The credit services provider reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $1.20. Navient had a return on equity of 8.62% and a net margin of 1.71%. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $150.04 million. During the same quarter in the prior year, the firm posted $0.84 EPS. On average, equities research analysts anticipate that Navient Co. will post 2.47 EPS for the current fiscal year.

Navient Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a dividend of $0.16 per share. The ex-dividend date is Friday, December 6th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.19%. Navient’s dividend payout ratio is 92.75%.

Navient Company 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.