Geode Capital Management LLC Sells 37,610 Shares of Navient Co. (NASDAQ:NAVI)

Geode Capital Management LLC decreased its holdings in Navient Co. (NASDAQ:NAVI - Free Report) by 1.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,898,926 shares of the credit services provider's stock after selling 37,610 shares during the quarter. Geode Capital Management LLC owned 1.77% of Navient worth $29,610,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of NAVI. KBC Group NV grew its holdings in shares of Navient by 47.0% in the third quarter. KBC Group NV now owns 4,355 shares of the credit services provider's stock worth $68,000 after acquiring an additional 1,392 shares during the period. Signaturefd LLC grew its stake in shares of Navient by 22.1% during the 2nd quarter. Signaturefd LLC now owns 4,797 shares of the credit services provider's stock valued at $70,000 after purchasing an additional 869 shares during the period. nVerses Capital LLC bought a new stake in shares of Navient during the 3rd quarter valued at about $87,000. Harbor Capital Advisors Inc. bought a new position in shares of Navient in the 3rd quarter worth approximately $95,000. Finally, Covestor Ltd lifted its stake in shares of Navient by 24.6% in the 3rd quarter. Covestor Ltd now owns 7,360 shares of the credit services provider's stock worth $115,000 after purchasing an additional 1,455 shares during the period. Institutional investors own 97.14% of the company's stock.

Insider Activity

In related news, EVP Stephen M. Hauber sold 10,000 shares of the company's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $15.00, for a total transaction of $150,000.00. Following the sale, the executive vice president now owns 256,883 shares of the company's stock, valued at $3,853,245. This represents a 3.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 27.99% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on NAVI. JPMorgan Chase & Co. cut their target price on shares of Navient from $15.50 to $15.00 and set a "neutral" rating for the company in a research report on Monday, December 9th. StockNews.com upgraded Navient from a "hold" rating to a "buy" rating in a research note on Friday, November 1st. Bank of America lowered their target price on Navient from $17.00 to $16.00 and set a "neutral" rating on the stock in a research report on Tuesday. Barclays boosted their price target on Navient from $10.00 to $11.00 and gave the company an "underweight" rating in a report on Tuesday, October 8th. Finally, TD Cowen decreased their price objective 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 issued a buy rating to the company's stock. According to data from MarketBeat.com, Navient presently has an average rating of "Hold" and a consensus target price of $15.50.

Navient Price Performance

Shares of NASDAQ:NAVI traded down $0.28 during trading on Friday, hitting $13.05. 1,164,759 shares of the company's stock were exchanged, compared to its average volume of 813,479. The business's 50-day simple moving average is $14.89 and its 200 day simple moving average is $15.13. The company has a debt-to-equity ratio of 16.59, a current ratio of 9.49 and a quick ratio of 9.49. Navient Co. has a 52-week low of $12.96 and a 52-week high of $18.94. The company has a market cap of $1.40 billion, a price-to-earnings ratio of 18.91 and a beta of 1.40.

Navient (NASDAQ:NAVI - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The credit services provider reported $1.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.25 by $1.20. Navient had a net margin of 1.71% and a return on equity of 8.62%. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $150.04 million. During the same period last year, the firm posted $0.84 EPS. As a group, equities analysts predict that Navient Co. will post 2.47 EPS for the current year.

Navient Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 4.90%. The ex-dividend date was Friday, December 6th. Navient's dividend payout ratio (DPR) is presently 92.75%.

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.