Navient Co. (NASDAQ:NAVI) Stock Position Lowered by Geode Capital Management LLC

Geode Capital Management LLC lowered its position in shares of Navient Co. (NASDAQ:NAVI) by 1.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,898,926 shares of the credit services provider’s stock after selling 37,610 shares during the quarter. Geode Capital Management LLC owned 1.77% of Navient worth $29,610,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. KBC Group NV lifted its stake in Navient by 47.0% during the third quarter. KBC Group NV now owns 4,355 shares of the credit services provider’s stock valued at $68,000 after purchasing an additional 1,392 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Navient by 22.1% in the second quarter. Signaturefd LLC now owns 4,797 shares of the credit services provider’s stock valued at $70,000 after buying an additional 869 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of Navient during the 3rd quarter valued at $87,000. Harbor Capital Advisors Inc. bought a new stake in shares of Navient during the 3rd quarter worth $95,000. Finally, Covestor Ltd grew its holdings in shares of Navient by 24.6% in the 3rd quarter. Covestor Ltd now owns 7,360 shares of the credit services provider’s stock worth $115,000 after acquiring an additional 1,455 shares during the last quarter. 97.14% of the stock is currently owned by institutional investors.

Navient Stock Down 1.4 %

NAVI stock opened at $13.33 on Friday. The company has a current ratio of 9.49, a quick ratio of 9.49 and a debt-to-equity ratio of 16.59. The firm has a market cap of $1.43 billion, a PE ratio of 19.32 and a beta of 1.40. Navient Co. has a 1 year low of $13.16 and a 1 year high of $19.12. The company has a fifty day simple moving average of $14.94 and a 200 day simple moving average of $15.14.

Navient (NASDAQ:NAVI) last announced its quarterly earnings results on Wednesday, October 30th. The credit services provider reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $1.20. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $150.04 million. Navient had a return on equity of 8.62% and a net margin of 1.71%. During the same quarter in the previous year, the firm earned $0.84 earnings per share. Sell-side analysts anticipate that Navient Co. will post 2.47 EPS for the current fiscal year.

Navient Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.80%. The ex-dividend date was Friday, December 6th. Navient’s dividend payout ratio is 92.75%.

Insider Transactions at Navient

In related news, EVP Stephen M. Hauber sold 10,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $15.00, for a total value of $150,000.00. Following the transaction, the executive vice president now directly owns 256,883 shares in the company, valued at approximately $3,853,245. This trade represents a 3.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 27.99% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on NAVI shares. JPMorgan Chase & Co. dropped their price target on Navient from $15.50 to $15.00 and set a “neutral” rating on the stock in a research note on Monday, December 9th. TD Cowen dropped their target price on shares of Navient from $14.00 to $13.00 and set a “sell” rating on the stock in a research report on Friday, November 1st. Barclays upped their price target 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. Bank of America lowered their price objective on shares of Navient from $17.00 to $16.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, StockNews.com upgraded Navient from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Three analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $15.50.

Navient 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.