Covestor Ltd Buys 1,455 Shares of Navient Co. (NASDAQ:NAVI)

Covestor Ltd grew its holdings in Navient Co. (NASDAQ:NAVI) by 24.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,360 shares of the credit services provider’s stock after purchasing an additional 1,455 shares during the quarter. Covestor Ltd’s holdings in Navient were worth $115,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the business. Jupiter Asset Management Ltd. acquired a new position in Navient during the first quarter worth $4,813,000. State Board of Administration of Florida Retirement System lifted its holdings in Navient by 178.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 73,578 shares of the credit services provider’s stock worth $1,177,000 after acquiring an additional 47,189 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of Navient by 265.4% in the 1st quarter. BNP Paribas Financial Markets now owns 128,690 shares of the credit services provider’s stock valued at $2,239,000 after purchasing an additional 93,469 shares during the period. Quest Partners LLC increased its position in shares of Navient by 102,163.1% during the second quarter. Quest Partners LLC now owns 85,901 shares of the credit services provider’s stock worth $1,251,000 after acquiring an additional 85,817 shares in the last quarter. Finally, UniSuper Management Pty Ltd bought a new position in Navient during the 1st quarter worth about $344,000. 97.14% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NAVI has been the subject of several recent research reports. StockNews.com raised Navient from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Keefe, Bruyette & Woods increased their price objective on Navient from $15.00 to $16.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. TD Cowen dropped their price target on shares of Navient from $14.00 to $13.00 and set a “sell” rating for the company in a research report on Friday, November 1st. Bank of America assumed coverage on shares of Navient in a research report on Monday, September 30th. They set a “neutral” rating and a $17.00 price objective for the company. Finally, Barclays raised their target price on Navient from $10.00 to $11.00 and gave the company an “underweight” rating in a report on Tuesday, October 8th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $15.75.

Insider Activity at Navient

In other news, EVP Stephen M. Hauber sold 10,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was 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 directly owns 256,883 shares of the company’s stock, valued at $3,853,245. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 27.99% of the stock is owned by insiders.

Navient Stock Up 0.8 %

NAVI stock opened at $15.50 on Wednesday. The company has a debt-to-equity ratio of 16.59, a quick ratio of 9.49 and a current ratio of 9.49. Navient Co. has a fifty-two week low of $13.71 and a fifty-two week high of $19.68. The stock’s 50 day simple moving average is $15.39 and its 200 day simple moving average is $15.22. The company has a market cap of $1.66 billion, a P/E ratio of 22.46 and a beta of 1.39.

Navient (NASDAQ:NAVI) last issued its earnings results on Wednesday, October 30th. The credit services provider reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $1.20. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $150.04 million. Navient had a return on equity of 8.62% and a net margin of 1.71%. During the same period last year, the business earned $0.84 EPS. On average, research analysts expect that Navient Co. will post 2.14 earnings per share for the current fiscal year.

Navient Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were issued a $0.16 dividend. The ex-dividend date was Friday, September 6th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.13%. Navient’s dividend payout ratio is presently 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.