State Street Corp Cuts Stock Position in Navient Co. (NASDAQ:NAVI)

State Street Corp lowered its position in Navient Co. (NASDAQ:NAVI - Free Report) by 1.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,401,292 shares of the credit services provider's stock after selling 58,663 shares during the period. State Street Corp owned approximately 3.17% of Navient worth $53,026,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of NAVI. The Manufacturers Life Insurance Company lifted its position in shares of Navient by 1.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 46,534 shares of the credit services provider's stock valued at $678,000 after buying an additional 722 shares in the last quarter. Signaturefd LLC lifted its holdings in Navient by 22.1% during the second 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 in the last quarter. Wedge Capital Management L L P NC grew its position in shares of Navient by 2.7% in the third quarter. Wedge Capital Management L L P NC now owns 45,584 shares of the credit services provider's stock valued at $711,000 after purchasing an additional 1,218 shares during the period. KBC Group NV increased its stake in shares of Navient by 47.0% during the third quarter. KBC Group NV now owns 4,355 shares of the credit services provider's stock worth $68,000 after purchasing an additional 1,392 shares in the last quarter. Finally, Xponance Inc. raised its position in shares of Navient by 11.5% during the 2nd quarter. Xponance Inc. now owns 13,944 shares of the credit services provider's stock worth $203,000 after purchasing an additional 1,440 shares during the last quarter. Institutional investors and hedge funds own 97.14% of the company's stock.

Insider Transactions at Navient

In other news, EVP Stephen M. Hauber sold 10,000 shares of the business's stock in a transaction that occurred on 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 directly owns 256,883 shares of the company's stock, valued at approximately $3,853,245. The trade was a 3.75 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 27.99% of the company's stock.

Navient Trading Up 0.4 %

Navient stock traded up $0.05 during midday trading on Friday, hitting $14.26. 2,548,383 shares of the stock were exchanged, compared to its average volume of 806,684. The company has a current ratio of 9.49, a quick ratio of 9.49 and a debt-to-equity ratio of 16.59. The stock's 50-day simple moving average is $15.10 and its 200 day simple moving average is $15.16. Navient Co. has a fifty-two week low of $13.71 and a fifty-two week high of $19.44. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of 20.67 and a beta of 1.40.

Navient (NASDAQ:NAVI - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The credit services provider reported $1.45 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $150.04 million. During the same quarter last year, the firm earned $0.84 EPS. On average, equities analysts anticipate that Navient Co. will post 2.47 EPS for the current year.

Navient Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 4.49%. The ex-dividend date is Friday, December 6th. Navient's dividend payout ratio (DPR) is presently 92.75%.

Analyst Ratings Changes

Several research firms have commented on NAVI. StockNews.com upgraded Navient from a "hold" rating to a "buy" rating in a research note on Friday, November 1st. TD Cowen reduced their price objective on Navient from $14.00 to $13.00 and set a "sell" rating for the company in a research note on Friday, November 1st. Bank of America started coverage on Navient in a report on Monday, September 30th. They issued a "neutral" rating and a $17.00 price objective on the stock. Barclays upped their target price on shares of Navient from $10.00 to $11.00 and gave the stock an "underweight" rating in a report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Navient from $15.50 to $15.00 and set a "neutral" rating on the stock in a research note on Monday, December 9th. 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 currently has a consensus rating of "Hold" and an average target price of $15.63.

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.