New Mexico Educational Retirement Board decreased its holdings in shares of Navient Corp (NASDAQ:NAVI) by 23.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,700 shares of the credit services provider’s stock after selling 14,300 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Navient were worth $420,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also modified their holdings of NAVI. Advisors Asset Management Inc. increased its position in Navient by 20.7% in the 2nd quarter. Advisors Asset Management Inc. now owns 30,473 shares of the credit services provider’s stock valued at $397,000 after buying an additional 5,233 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Navient by 25.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,937,215 shares of the credit services provider’s stock valued at $51,301,000 after purchasing an additional 799,292 shares during the last quarter. Bank of Montreal Can boosted its stake in Navient by 4.1% during the 3rd quarter. Bank of Montreal Can now owns 1,754,919 shares of the credit services provider’s stock valued at $23,656,000 after purchasing an additional 68,669 shares during the last quarter. Oakbrook Investments LLC boosted its stake in Navient by 24.8% during the 3rd quarter. Oakbrook Investments LLC now owns 31,435 shares of the credit services provider’s stock valued at $424,000 after purchasing an additional 6,240 shares during the last quarter. Finally, Seven Eight Capital LP acquired a new position in Navient during the 3rd quarter valued at about $1,381,000. 93.29% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ NAVI opened at $11.25 on Monday. Navient Corp has a twelve month low of $8.23 and a twelve month high of $15.02. The company has a market capitalization of $2.90 billion, a PE ratio of 5.38 and a beta of 2.30. The company has a current ratio of 17.67, a quick ratio of 19.74 and a debt-to-equity ratio of 26.37.
Navient (NASDAQ:NAVI) last announced its earnings results on Tuesday, January 22nd. The credit services provider reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.11. Navient had a return on equity of 14.08% and a net margin of 7.04%. The firm had revenue of $307.00 million for the quarter, compared to the consensus estimate of $315.67 million. During the same quarter in the previous year, the business earned $0.43 EPS. On average, analysts forecast that Navient Corp will post 1.96 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, March 1st will be paid a $0.16 dividend. The ex-dividend date of this dividend is Thursday, February 28th. This represents a $0.64 annualized dividend and a yield of 5.69%. Navient’s payout ratio is 30.62%.
A number of equities analysts have issued reports on NAVI shares. ValuEngine downgraded Navient from a “hold” rating to a “sell” rating in a research note on Saturday, October 27th. Citigroup cut their target price on Navient from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, October 25th. JPMorgan Chase & Co. upgraded Navient from an “underweight” rating to a “neutral” rating and cut their target price for the stock from $13.00 to $12.00 in a research note on Wednesday, January 16th. BidaskClub downgraded Navient from a “sell” rating to a “strong sell” rating in a research note on Thursday, December 13th. Finally, Zacks Investment Research upgraded Navient from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research note on Monday, December 3rd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. Navient has a consensus rating of “Hold” and a consensus price target of $14.79.
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Navient Corporation provides asset management and business processing services to education, health care, and government clients at the federal, state, and local levels in the United States. The company operates in three segments: Federal Family Education Loan Program (FFELP) Loans, Private Education Loans, and Business Services.
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