KLP Kapitalforvaltning AS Purchases Shares of 32,500 Navient Co. (NASDAQ:NAVI)

KLP Kapitalforvaltning AS purchased a new stake in shares of Navient Co. (NASDAQ:NAVI) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 32,500 shares of the credit services provider’s stock, valued at approximately $432,000.

Several other institutional investors have also recently made changes to their positions in NAVI. Raymond James Financial Inc. purchased a new stake in Navient during the fourth quarter valued at approximately $167,000. Paloma Partners Management Co purchased a new stake in shares of Navient in the 3rd quarter worth $174,000. AXQ Capital LP bought a new position in Navient in the 4th quarter worth $196,000. Quantinno Capital Management LP lifted its position in Navient by 12.6% during the third quarter. Quantinno Capital Management LP now owns 14,173 shares of the credit services provider’s stock valued at $221,000 after purchasing an additional 1,587 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in Navient during the third quarter valued at about $256,000. Institutional investors own 97.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. StockNews.com downgraded Navient from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. decreased their target price on shares of Navient from $15.00 to $13.50 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Bank of America reduced their price objective on shares of Navient from $17.00 to $16.00 and set a “neutral” rating for the company in a research note on Tuesday, December 24th. Keefe, Bruyette & Woods lowered their target price on shares of Navient from $16.00 to $14.00 and set a “market perform” rating on the stock in a research note on Monday, March 31st. Finally, TD Cowen raised shares of Navient from a “strong sell” rating to a “hold” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $13.50.

Navient Price Performance

NAVI stock opened at $11.14 on Friday. The company has a market capitalization of $1.14 billion, a PE ratio of 9.60 and a beta of 1.24. The company’s fifty day moving average price is $13.55 and its 200-day moving average price is $14.34. Navient Co. has a one year low of $10.96 and a one year high of $17.28. The company has a debt-to-equity ratio of 16.35, a quick ratio of 9.49 and a current ratio of 9.48.

Navient (NASDAQ:NAVI) last announced its quarterly earnings results on Wednesday, January 29th. The credit services provider reported $0.25 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.01). Navient had a return on equity of 6.69% and a net margin of 2.96%. On average, equities analysts anticipate that Navient Co. will post 1.04 EPS for the current fiscal year.

Navient Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 5.75%. The ex-dividend date was Friday, March 7th. Navient’s payout ratio is 55.17%.

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.