Natixis Advisors LLC Buys 2,194 Shares of Navient Co. (NASDAQ:NAVI)

Natixis Advisors LLC increased its holdings in Navient Co. (NASDAQ:NAVI) by 13.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,192 shares of the credit services provider’s stock after acquiring an additional 2,194 shares during the quarter. Natixis Advisors LLC’s holdings in Navient were worth $284,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Donald Smith & CO. Inc. lifted its stake in Navient by 27.8% in the third quarter. Donald Smith & CO. Inc. now owns 3,581,311 shares of the credit services provider’s stock worth $55,833,000 after acquiring an additional 779,973 shares during the period. American Century Companies Inc. lifted its position in shares of Navient by 12.1% during the second quarter. American Century Companies Inc. now owns 1,582,928 shares of the credit services provider’s stock valued at $23,047,000 after buying an additional 171,160 shares during the last quarter. Empowered Funds LLC raised its position in shares of Navient by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 444,467 shares of the credit services provider’s stock valued at $6,929,000 after purchasing an additional 22,646 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Navient by 0.9% in the 2nd quarter. Victory Capital Management Inc. now owns 322,820 shares of the credit services provider’s stock valued at $4,700,000 after purchasing an additional 2,991 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Navient by 15.4% during the 2nd quarter. AQR Capital Management LLC now owns 240,209 shares of the credit services provider’s stock worth $3,466,000 after purchasing an additional 31,983 shares during the period. 97.14% of the stock is owned by hedge funds and other institutional investors.

Navient Stock Up 0.5 %

NAVI stock opened at $15.32 on Friday. The firm’s 50-day simple moving average is $15.28 and its 200 day simple moving average is $15.20. The stock has a market cap of $1.64 billion, a PE ratio of 22.20 and a beta of 1.39. The company has a quick ratio of 9.49, a current ratio of 9.49 and a debt-to-equity ratio of 16.59. Navient Co. has a fifty-two week low of $13.71 and a fifty-two week high of $19.68.

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 the consensus estimate of $0.25 by $1.20. Navient had a net margin of 1.71% and a return on equity of 8.62%. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $150.04 million. During the same quarter last year, the firm posted $0.84 EPS. As a group, sell-side analysts predict that Navient Co. will post 2.47 EPS for the current year.

Navient Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.16 per share. The ex-dividend date is Friday, December 6th. This represents a $0.64 annualized dividend and a dividend yield of 4.18%. Navient’s dividend payout ratio is presently 92.75%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NAVI. JPMorgan Chase & Co. raised their price objective on Navient from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, October 7th. Barclays boosted their target price on Navient from $10.00 to $11.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 8th. StockNews.com upgraded Navient from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Bank of America initiated coverage on Navient in a research report on Monday, September 30th. They set a “neutral” rating and a $17.00 target price on the stock. Finally, TD Cowen reduced their price target on Navient from $14.00 to $13.00 and set a “sell” rating on the stock in a research note on Friday, November 1st. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $15.75.

Insider Activity at Navient

In other news, EVP Stephen M. Hauber sold 10,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $15.00, for a total value of $150,000.00. Following the sale, the executive vice president now 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. 27.99% of the stock is owned by corporate insiders.

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.