Goldman Sachs Group Inc. Cuts Stock Position in Navient Co. (NASDAQ:NAVI)

Goldman Sachs Group Inc. trimmed its holdings in Navient Co. (NASDAQ:NAVI) by 3.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 896,353 shares of the credit services provider’s stock after selling 31,306 shares during the period. Goldman Sachs Group Inc. owned about 0.79% of Navient worth $16,690,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. PNC Financial Services Group Inc. lifted its holdings in Navient by 13.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 5,236 shares of the credit services provider’s stock worth $90,000 after purchasing an additional 607 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of Navient by 1,762.0% during the fourth quarter. International Assets Investment Management LLC now owns 9,310 shares of the credit services provider’s stock worth $173,000 after acquiring an additional 8,810 shares during the last quarter. Boulder Hill Capital Management LP bought a new stake in Navient in the 4th quarter valued at $188,000. Dimension Capital Management LLC bought a new stake in Navient in the 3rd quarter valued at $195,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Navient during the 4th quarter valued at about $248,000. Institutional investors own 97.14% of the company’s stock.

Insider Buying and Selling

In other Navient news, EVP Mark L. Heleen sold 10,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $16.00, for a total value of $160,000.00. Following the completion of the sale, the executive vice president now directly owns 393,611 shares of the company’s stock, valued at approximately $6,297,776. The transaction was disclosed in a filing with the SEC, which is available through this link. 27.99% of the stock is currently owned by insiders.

Navient Stock Performance

Shares of NASDAQ:NAVI opened at $14.20 on Friday. The company has a current ratio of 12.52, a quick ratio of 12.52 and a debt-to-equity ratio of 18.38. Navient Co. has a 12 month low of $13.96 and a 12 month high of $19.69. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 9.10 and a beta of 1.40. The firm’s 50-day moving average is $15.10 and its 200 day moving average is $16.46.

Navient (NASDAQ:NAVI) last released its earnings results on Wednesday, April 24th. The credit services provider reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. Navient had a return on equity of 12.09% and a net margin of 3.93%. The firm had revenue of $163.00 million for the quarter, compared to analysts’ expectations of $188.04 million. Research analysts predict that Navient Co. will post 1.66 EPS for the current year.

Navient Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.51%. The ex-dividend date was Friday, June 7th. Navient’s payout ratio is presently 41.03%.

Analyst Ratings Changes

Several brokerages have recently issued reports on NAVI. Barclays reduced their target price on Navient from $13.00 to $11.00 and set an “underweight” rating on the stock in a report on Thursday, April 25th. JPMorgan Chase & Co. lowered their target price on Navient from $17.00 to $16.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. TD Cowen reduced their price target on shares of Navient from $14.00 to $13.00 and set a “sell” rating on the stock in a research report on Friday, April 26th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Navient from $19.00 to $17.00 and set a “market perform” rating for the company in a research report on Thursday, April 25th. Three equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $16.10.

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.