Old Mutual Global Investors UK Ltd. acquired a new stake in shares of Navient Corp (NASDAQ:NAVI) during the 4th quarter, HoldingsChannel reports. The fund acquired 68,316 shares of the credit services provider’s stock, valued at approximately $909,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new stake in shares of Navient in the third quarter worth about $121,000. Advisors Asset Management Inc. lifted its holdings 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 worth $153,000 after buying an additional 4,642 shares in the last quarter. Thrivent Financial For Lutherans lifted its holdings in shares of Navient by 1.0% in the second quarter. Thrivent Financial For Lutherans now owns 10,770 shares of the credit services provider’s stock worth $179,000 after buying an additional 110 shares in the last quarter. First Midwest Bank Trust Division purchased a new stake in shares of Navient in the third quarter worth about $175,000. Finally, Point View Wealth Management Inc. purchased a new stake in shares of Navient in the third quarter worth about $309,000. 89.75% of the stock is currently owned by institutional investors and hedge funds.
In related news, SVP Stephen M. Hauber sold 17,423 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $14.40, for a total value of $250,891.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.68% of the stock is currently owned by corporate insiders.
Navient Corp (NASDAQ NAVI) opened at $13.99 on Friday. The company has a debt-to-equity ratio of 30.13, a current ratio of 22.41 and a quick ratio of 33.10. The firm has a market cap of $3,679.54, a P/E ratio of 7.90, a P/E/G ratio of 1.22 and a beta of 2.30. Navient Corp has a 52-week low of $11.48 and a 52-week high of $16.97.
Navient (NASDAQ:NAVI) last posted its quarterly earnings data on Tuesday, January 23rd. The credit services provider reported $0.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.01. The company had revenue of $366.00 million for the quarter, compared to analysts’ expectations of $362.33 million. Navient had a net margin of 5.94% and a return on equity of 13.90%. During the same period in the prior year, the business earned $0.43 earnings per share. analysts anticipate that Navient Corp will post 1.91 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 16th. Investors of record on Friday, March 2nd will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 4.57%. The ex-dividend date of this dividend is Thursday, March 1st. Navient’s dividend payout ratio (DPR) is 63.37%.
NAVI has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Navient from a “sell” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Friday, January 12th. ValuEngine raised shares of Navient from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Jefferies Group reissued a “hold” rating and issued a $15.00 price target on shares of Navient in a report on Thursday, January 25th. Oppenheimer initiated coverage on shares of Navient in a report on Monday, January 8th. They issued a “hold” rating on the stock. Finally, UBS Group assumed coverage on shares of Navient in a report on Monday, January 8th. They issued a “market perform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $17.45.
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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).
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