KLP Kapitalforvaltning AS acquired a new stake in Navient Co. (NASDAQ:NAVI - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 32,500 shares of the credit services provider's stock, valued at approximately $432,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in shares of Navient in the fourth quarter worth about $167,000. Paloma Partners Management Co purchased a new position in Navient in the 3rd quarter worth approximately $174,000. AXQ Capital LP purchased a new position in Navient in the 4th quarter worth approximately $196,000. Quantinno Capital Management LP boosted its holdings in shares of Navient by 12.6% during the 3rd quarter. Quantinno Capital Management LP now owns 14,173 shares of the credit services provider's stock worth $221,000 after purchasing an additional 1,587 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Navient in the third quarter valued at approximately $256,000. Hedge funds and other institutional investors own 97.14% of the company's stock.
Navient Trading Up 11.5 %
NAVI stock traded up $1.24 during mid-day trading on Wednesday, hitting $12.00. 1,477,975 shares of the company were exchanged, compared to its average volume of 792,265. Navient Co. has a 12-month low of $10.53 and a 12-month high of $16.97. The firm has a market capitalization of $1.23 billion, a P/E ratio of 10.34 and a beta of 1.24. The business has a fifty day simple moving average of $13.33 and a 200-day simple moving average of $14.22. The company has a quick ratio of 9.49, a current ratio of 9.48 and a debt-to-equity ratio of 16.35.
Navient (NASDAQ:NAVI - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The credit services provider reported $0.25 earnings per share for the quarter, missing analysts' consensus estimates 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 research analysts predict that Navient Co. will post 1.04 earnings per share for the current fiscal year.
Navient Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 5.33%. The ex-dividend date of this dividend was Friday, March 7th. Navient's payout ratio is 55.17%.
Analyst Upgrades and Downgrades
NAVI has been the topic of a number of recent research reports. Bank of America lowered their price objective on Navient from $17.00 to $16.00 and set a "neutral" rating on the stock in a research note on Tuesday, December 24th. StockNews.com lowered shares of Navient from a "buy" rating to a "hold" rating in a report on Friday, January 31st. Seaport Res Ptn raised shares of Navient from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 21st. JPMorgan Chase & Co. dropped their price target on shares of Navient from $13.50 to $11.00 and set a "neutral" rating for the company in a research note on Tuesday. Finally, TD Cowen raised shares of Navient from a "strong sell" rating to a "hold" rating in a research report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $13.00.
Get Our Latest Stock Analysis on Navient
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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