Cerity Partners LLC Has $597,000 Holdings in Navient Co. (NASDAQ:NAVI)

Cerity Partners LLC increased its stake in shares of Navient Co. (NASDAQ:NAVI) by 82.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,323 shares of the credit services provider’s stock after buying an additional 17,349 shares during the quarter. Cerity Partners LLC’s holdings in Navient were worth $597,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Charles Schwab Investment Management Inc. grew its holdings in Navient by 1.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,092,270 shares of the credit services provider’s stock worth $17,028,000 after acquiring an additional 19,606 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of Navient during the third quarter worth approximately $1,398,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Navient during the third quarter valued at approximately $714,000. Natixis Advisors LLC increased its holdings in shares of Navient by 13.7% in the third quarter. Natixis Advisors LLC now owns 18,192 shares of the credit services provider’s stock valued at $284,000 after purchasing an additional 2,194 shares in the last quarter. Finally, Empowered Funds LLC raised its position in Navient by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 444,467 shares of the credit services provider’s stock worth $6,929,000 after purchasing an additional 22,646 shares during the last quarter. Institutional investors and hedge funds own 97.14% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on NAVI shares. JPMorgan Chase & Co. raised their price target on Navient from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, October 7th. TD Cowen reduced their target price on shares of Navient from $14.00 to $13.00 and set a “sell” rating on the stock in a research note on Friday, November 1st. Bank of America started coverage on shares of Navient in a research note on Monday, September 30th. They set a “neutral” rating and a $17.00 price target for the company. StockNews.com raised shares of Navient from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Finally, Barclays upped their target price on shares of Navient from $10.00 to $11.00 and gave the company an “underweight” rating in a research report on Tuesday, October 8th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $15.75.

Insider Activity

In related news, EVP Stephen M. Hauber sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $15.00, for a total transaction of $150,000.00. Following the transaction, the executive vice president now directly owns 256,883 shares of the company’s stock, valued at approximately $3,853,245. This represents a 3.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 27.99% of the stock is currently owned by company insiders.

Navient Trading Up 0.6 %

NASDAQ NAVI opened at $15.19 on Friday. The company has a market cap of $1.63 billion, a price-to-earnings ratio of 22.01 and a beta of 1.40. Navient Co. has a twelve month low of $13.71 and a twelve month high of $19.68. The company has a quick ratio of 9.49, a current ratio of 9.49 and a debt-to-equity ratio of 16.59. The business’s fifty day moving average is $15.25 and its 200 day moving average is $15.19.

Navient (NASDAQ:NAVI) last posted its quarterly earnings data on Wednesday, October 30th. The credit services provider reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $1.20. Navient had a return on equity of 8.62% and a net margin of 1.71%. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $150.04 million. During the same period in the prior year, the business posted $0.84 earnings per share. As a group, sell-side analysts expect that Navient Co. will post 2.47 EPS for the current fiscal year.

Navient Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 4.21%. The ex-dividend date is Friday, December 6th. Navient’s dividend payout ratio (DPR) is 92.75%.

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.