California Public Employees Retirement System Reduces Position in Navient Corp (NAVI)

California Public Employees Retirement System cut its stake in Navient Corp (NASDAQ:NAVI) by 1.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,294,621 shares of the credit services provider’s stock after selling 16,679 shares during the quarter. California Public Employees Retirement System owned approximately 0.49% of Navient worth $19,445,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Ffcm LLC grew its stake in shares of Navient by 144.5% in the second quarter. Ffcm LLC now owns 7,071 shares of the credit services provider’s stock valued at $119,000 after acquiring an additional 4,179 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Navient in the third quarter valued at about $121,000. Bronfman E.L. Rothschild L.P. grew its stake in shares of Navient by 8.8% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 7,564 shares of the credit services provider’s stock valued at $126,000 after acquiring an additional 612 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of Navient by 84.0% in the third quarter. Advisors Asset Management Inc. now owns 10,168 shares of the credit services provider’s stock valued at $153,000 after acquiring an additional 4,642 shares in the last quarter. Finally, First Midwest Bank Trust Division acquired a new position in shares of Navient in the third quarter valued at about $175,000. 92.67% of the stock is currently owned by institutional investors.

In related news, CFO Christian M. Lown purchased 6,000 shares of Navient stock in a transaction dated Friday, October 20th. The shares were bought at an average cost of $12.35 per share, for a total transaction of $74,100.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.68% of the company’s stock.

Navient Corp (NAVI) traded down $0.09 on Friday, hitting $13.88. 3,880,000 shares of the stock were exchanged, compared to its average volume of 3,004,588. Navient Corp has a one year low of $11.48 and a one year high of $17.05. The company has a current ratio of 33.10, a quick ratio of 33.10 and a debt-to-equity ratio of 30.58. The firm has a market cap of $3,674.28, a P/E ratio of 7.67, a P/E/G ratio of 1.26 and a beta of 2.37.

Navient (NASDAQ:NAVI) last posted its quarterly earnings results on Tuesday, October 17th. The credit services provider reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.05. Navient had a net margin of 10.88% and a return on equity of 14.09%. The company had revenue of $343.00 million for the quarter, compared to the consensus estimate of $361.33 million. During the same period last year, the company posted $0.50 EPS. The firm’s quarterly revenue was down 15.3% compared to the same quarter last year. equities analysts predict that Navient Corp will post 1.76 earnings per share for the current fiscal year.

Navient announced that its board has authorized a share repurchase plan on Wednesday, October 4th that authorizes the company to repurchase outstanding shares. This repurchase authorization authorizes the credit services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

The business also recently declared a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were paid a $0.16 dividend. The ex-dividend date was Thursday, November 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.61%. Navient’s payout ratio is currently 35.36%.

Several research firms recently commented on NAVI. Jefferies Group restated a “hold” rating and issued a $14.00 price target on shares of Navient in a research note on Thursday. Zacks Investment Research upgraded shares of Navient from a “sell” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Friday. UBS Group started coverage on shares of Navient in a research note on Monday, January 8th. They set a “market perform” rating on the stock. Oppenheimer started coverage on shares of Navient in a research note on Monday, January 8th. They set a “hold” rating on the stock. Finally, JPMorgan Chase & Co. downgraded shares of Navient from a “neutral” rating to an “underweight” rating in a research note on Friday. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $17.36.

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Navient Profile

Navient Corporation provides asset management and business processing services to education, healthcare and government clients at the federal, state and local levels. The Company holds the portfolio of education loans insured or federally guaranteed under the Federal Family Education Loan Program (FFELP).

Institutional Ownership by Quarter for Navient (NASDAQ:NAVI)

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