Navient Co. (NASDAQ:NAVI) Shares Sold by Kendall Capital Management

Kendall Capital Management lessened its holdings in Navient Co. (NASDAQ:NAVI) by 6.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,245 shares of the credit services provider’s stock after selling 3,525 shares during the period. Kendall Capital Management’s holdings in Navient were worth $688,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. ProShare Advisors LLC increased its position in shares of Navient by 4.1% in the first quarter. ProShare Advisors LLC now owns 16,794 shares of the credit services provider’s stock valued at $292,000 after buying an additional 668 shares in the last quarter. Signaturefd LLC increased its holdings in Navient by 22.1% in the 2nd quarter. Signaturefd LLC now owns 4,797 shares of the credit services provider’s stock worth $70,000 after acquiring an additional 869 shares in the last quarter. Covestor Ltd raised its position in Navient by 23.1% during the first quarter. Covestor Ltd now owns 6,245 shares of the credit services provider’s stock worth $109,000 after acquiring an additional 1,173 shares during the period. CANADA LIFE ASSURANCE Co raised its position in Navient by 1.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 133,901 shares of the credit services provider’s stock worth $2,329,000 after acquiring an additional 1,444 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new position in Navient during the first quarter valued at $36,000. Institutional investors and hedge funds own 97.14% of the company’s stock.

Navient Trading Up 0.1 %

Shares of Navient stock opened at $16.01 on Thursday. Navient Co. has a 1-year low of $13.95 and a 1-year high of $19.68. The company has a debt-to-equity ratio of 17.30, a current ratio of 9.99 and a quick ratio of 9.99. The stock has a market cap of $1.79 billion, a P/E ratio of 10.26 and a beta of 1.39. The stock’s 50 day simple moving average is $15.55 and its 200-day simple moving average is $15.59.

Navient (NASDAQ:NAVI) last issued its earnings results on Wednesday, July 24th. The credit services provider reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.14). Navient had a net margin of 3.41% and a return on equity of 11.06%. The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $157.27 million. During the same quarter in the previous year, the company earned $0.70 earnings per share. Analysts predict that Navient Co. will post 1.43 EPS for the current fiscal year.

Navient Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 4.00%. The ex-dividend date of this dividend is Friday, September 6th. Navient’s payout ratio is currently 41.03%.

Wall Street Analyst Weigh In

NAVI has been the subject of a number of research reports. Barclays cut their target price on shares of Navient from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Tuesday, July 9th. Keefe, Bruyette & Woods boosted their price objective on Navient from $15.00 to $16.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. Finally, JPMorgan Chase & Co. decreased their target price on Navient from $16.00 to $15.00 and set a “neutral” rating on the stock in a research report on Monday, July 8th. Three research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $15.56.

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.