Man Group plc lessened its holdings in shares of Navient Co. (NASDAQ:NAVI - Free Report) by 12.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 281,496 shares of the credit services provider's stock after selling 41,556 shares during the period. Man Group plc owned approximately 0.26% of Navient worth $3,741,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sterling Capital Management LLC increased its holdings in shares of Navient by 815.0% during the 4th quarter. Sterling Capital Management LLC now owns 2,443 shares of the credit services provider's stock worth $32,000 after purchasing an additional 2,176 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Navient during the 4th quarter worth approximately $167,000. Brevan Howard Capital Management LP increased its position in shares of Navient by 16.3% during the fourth quarter. Brevan Howard Capital Management LP now owns 12,877 shares of the credit services provider's stock valued at $171,000 after purchasing an additional 1,804 shares during the period. AXQ Capital LP bought a new stake in shares of Navient during the fourth quarter valued at approximately $196,000. Finally, Headlands Technologies LLC lifted its position in Navient by 757.3% in the fourth quarter. Headlands Technologies LLC now owns 14,737 shares of the credit services provider's stock worth $196,000 after purchasing an additional 13,018 shares during the period. Institutional investors and hedge funds own 97.14% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on NAVI. JPMorgan Chase & Co. increased their price objective on shares of Navient from $11.00 to $12.50 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Jefferies Financial Group lowered their target price on shares of Navient from $14.00 to $12.00 and set a "hold" rating on the stock in a research note on Monday, April 21st. Wall Street Zen lowered shares of Navient from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. TD Securities lifted their price objective on Navient from $11.00 to $12.00 and gave the company a "sell" rating in a report on Thursday, May 1st. Finally, TD Cowen cut Navient from a "hold" rating to a "strong sell" rating in a report on Thursday, May 1st. Three research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a strong 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 $12.93.
Get Our Latest Stock Report on NAVI
Navient Price Performance
Shares of NASDAQ:NAVI traded up $0.02 during trading on Friday, reaching $13.25. The stock had a trading volume of 525,637 shares, compared to its average volume of 770,301. The stock has a market capitalization of $1.34 billion, a PE ratio of 11.42 and a beta of 1.38. The company has a debt-to-equity ratio of 16.35, a current ratio of 9.48 and a quick ratio of 9.49. Navient Co. has a 52 week low of $10.53 and a 52 week high of $16.97. The business's 50-day moving average price is $12.45 and its 200 day moving average price is $13.55.
Navient (NASDAQ:NAVI - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The credit services provider reported $0.28 earnings per share for the quarter, topping analysts' consensus estimates of $0.19 by $0.09. Navient had a net margin of 2.96% and a return on equity of 6.69%. The business had revenue of $156.00 million during the quarter, compared to the consensus estimate of $150.40 million. During the same period in the previous year, the firm posted $0.47 earnings per share. As a group, equities analysts predict that Navient Co. will post 1.04 earnings per share for the current year.
Navient Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 4.83%. The ex-dividend date of this dividend is Friday, June 6th. Navient's payout ratio is presently 128.00%.
About Navient
(
Free Report)
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.
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