New York State Common Retirement Fund Acquires 53,806 Shares of Navient Co. (NASDAQ:NAVI)

New York State Common Retirement Fund grew its position in Navient Co. (NASDAQ:NAVI - Free Report) by 90.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 113,415 shares of the credit services provider's stock after acquiring an additional 53,806 shares during the period. New York State Common Retirement Fund owned 0.10% of Navient worth $2,112,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. PNC Financial Services Group Inc. increased its holdings in Navient by 13.1% in the third quarter. PNC Financial Services Group Inc. now owns 5,236 shares of the credit services provider's stock valued at $90,000 after purchasing an additional 607 shares during the period. CI Investments Inc. increased its holdings in Navient by 5,209.1% in the third quarter. CI Investments Inc. now owns 9,291 shares of the credit services provider's stock valued at $160,000 after purchasing an additional 9,116 shares during the period. International Assets Investment Management LLC increased its holdings in Navient by 1,762.0% in the fourth quarter. International Assets Investment Management LLC now owns 9,310 shares of the credit services provider's stock valued at $173,000 after purchasing an additional 8,810 shares during the period. Dimension Capital Management LLC acquired a new stake in Navient in the third quarter valued at $195,000. Finally, Pathstone Family Office LLC increased its holdings in Navient by 9.8% in the third quarter. Pathstone Family Office LLC now owns 11,542 shares of the credit services provider's stock valued at $199,000 after purchasing an additional 1,029 shares during the period. 97.14% of the stock is currently owned by institutional investors.

Navient Price Performance

Shares of NAVI traded down $0.04 during mid-day trading on Thursday, reaching $15.43. 546,693 shares of the stock traded hands, compared to its average volume of 924,543. The firm has a fifty day moving average price of $16.45 and a 200 day moving average price of $16.98. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 9.89 and a beta of 1.39. The company has a current ratio of 12.52, a quick ratio of 12.52 and a debt-to-equity ratio of 18.38. Navient Co. has a 1 year low of $14.10 and a 1 year high of $19.69.

Navient (NASDAQ:NAVI - Get Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The credit services provider reported $0.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.05. The company had revenue of $163.00 million during the quarter, compared to the consensus estimate of $188.04 million. Navient had a net margin of 3.93% and a return on equity of 12.09%. As a group, equities research analysts predict that Navient Co. will post 1.66 earnings per share for the current year.

Navient Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date of this dividend was Thursday, February 29th. Navient's payout ratio is currently 41.03%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. JPMorgan Chase & Co. decreased their price target on Navient from $17.00 to $16.00 and set a "neutral" rating for the company in a report on Thursday, April 25th. Barclays decreased their price target on Navient from $13.00 to $11.00 and set an "underweight" rating for the company in a report on Thursday, April 25th. Citigroup raised their target price on Navient from $17.00 to $18.00 and gave the company a "neutral" rating in a research note on Thursday, February 1st. Deutsche Bank Aktiengesellschaft initiated coverage on Navient in a research note on Wednesday, January 10th. They issued a "hold" rating and a $19.00 target price for the company. Finally, TD Cowen reduced their target price on Navient from $14.00 to $13.00 and set a "sell" rating for the company in a research note on Friday, April 26th. Three analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $16.10.

Insiders Place Their Bets

In related news, EVP Mark L. Heleen sold 10,000 shares of the business's stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $16.00, for a total transaction of $160,000.00. Following the transaction, the executive vice president now owns 393,611 shares in the company, valued at $6,297,776. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 27.99% of the company's stock.

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.