Deseret Mutual Benefit Administrators trimmed its holdings in shares of Navient Co. (NASDAQ:NAVI) by 34.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,249 shares of the credit services provider’s stock after selling 2,263 shares during the quarter. Deseret Mutual Benefit Administrators’ holdings in Navient were worth $84,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the company. FMR LLC lifted its position in shares of Navient by 23.6% during the second quarter. FMR LLC now owns 9,782,093 shares of the credit services provider’s stock worth $189,088,000 after purchasing an additional 1,864,585 shares during the last quarter. Donald Smith & CO. Inc. raised its holdings in shares of Navient by 0.9% in the second quarter. Donald Smith & CO. Inc. now owns 2,504,623 shares of the credit services provider’s stock valued at $48,414,000 after acquiring an additional 22,161 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Navient by 5.2% in the second quarter. Invesco Ltd. now owns 2,348,853 shares of the credit services provider’s stock valued at $45,404,000 after acquiring an additional 115,843 shares in the last quarter. Parametric Portfolio Associates LLC raised its holdings in shares of Navient by 10.3% in the second quarter. Parametric Portfolio Associates LLC now owns 1,831,679 shares of the credit services provider’s stock valued at $35,406,000 after acquiring an additional 171,787 shares in the last quarter. Finally, Morgan Stanley raised its holdings in shares of Navient by 224.3% in the second quarter. Morgan Stanley now owns 1,119,626 shares of the credit services provider’s stock valued at $21,642,000 after acquiring an additional 774,347 shares in the last quarter. Institutional investors and hedge funds own 91.76% of the company’s stock.
Several analysts recently weighed in on NAVI shares. Zacks Investment Research upgraded Navient from a “sell” rating to a “hold” rating and set a $21.00 price objective for the company in a report on Monday, November 1st. Seaport Global Securities started coverage on Navient in a report on Thursday, September 30th. They issued a “neutral” rating for the company. Wedbush restated an “outperform” rating on shares of Navient in a report on Tuesday, November 2nd. Finally, Seaport Res Ptn restated a “neutral” rating on shares of Navient in a report on Thursday, September 30th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $20.83.
Shares of Navient stock opened at $21.22 on Friday. Navient Co. has a one year low of $9.69 and a one year high of $23.80. The company has a market capitalization of $3.42 billion, a PE ratio of 4.18 and a beta of 1.70. The company has a debt-to-equity ratio of 27.66, a quick ratio of 27.93 and a current ratio of 27.93. The company has a 50-day simple moving average of $20.44 and a two-hundred day simple moving average of $20.71.
Navient (NASDAQ:NAVI) last issued its quarterly earnings results on Tuesday, October 26th. The credit services provider reported $0.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.07. Navient had a return on equity of 29.54% and a net margin of 25.74%. The business had revenue of $299.00 million for the quarter, compared to analyst estimates of $269.99 million. During the same quarter in the previous year, the firm earned $0.99 earnings per share. The company’s revenue was down 6.9% on a year-over-year basis. On average, equities analysts predict that Navient Co. will post 4.49 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 17th. Stockholders of record on Friday, December 3rd were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, December 2nd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.02%. Navient’s payout ratio is 12.60%.
Navient Corp. engages in the provision of asset management and business processing solutions for education, healthcare and government clients at the federal, state and local levels. It operates through the following segments: Federal Education Loans, Consumer Lending, Business Processing and Other. The Federal Education Loans segment owns FFELP Loans and performs servicing and asset recovery services on FFELP Loan portfolio.
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