Amalgamated Bank Sells 1,163 Shares of Navient Co. (NASDAQ:NAVI)

Amalgamated Bank lowered its position in Navient Co. (NASDAQ:NAVI) by 4.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 23,494 shares of the credit services provider’s stock after selling 1,163 shares during the period. Amalgamated Bank’s holdings in Navient were worth $366,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. State Board of Administration of Florida Retirement System increased its position in Navient by 178.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 73,578 shares of the credit services provider’s stock valued at $1,177,000 after buying an additional 47,189 shares in the last quarter. Quest Partners LLC increased its position in Navient by 102,163.1% during the 2nd quarter. Quest Partners LLC now owns 85,901 shares of the credit services provider’s stock valued at $1,251,000 after buying an additional 85,817 shares in the last quarter. UniSuper Management Pty Ltd bought a new position in Navient during the 1st quarter valued at approximately $344,000. Assenagon Asset Management S.A. bought a new position in Navient during the 2nd quarter valued at approximately $696,000. Finally, CANADA LIFE ASSURANCE Co increased its position in Navient by 1.1% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 133,901 shares of the credit services provider’s stock valued at $2,329,000 after buying an additional 1,444 shares in the last quarter. Institutional investors own 97.14% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on NAVI. StockNews.com raised Navient from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. raised their price objective on Navient from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, October 7th. Keefe, Bruyette & Woods increased their target price on Navient from $15.00 to $16.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. Barclays increased their target price on Navient from $10.00 to $11.00 and gave the company an “underweight” rating in a research note on Tuesday, October 8th. Finally, Bank of America started coverage on Navient in a research note on Monday, September 30th. They set a “neutral” rating and a $17.00 target price on the stock. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $15.75.

Insider Buying and Selling at Navient

In other news, EVP Stephen M. Hauber sold 10,000 shares of Navient stock in a transaction dated Wednesday, November 6th. The stock was 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 27.99% of the company’s stock.

Navient Price Performance

NASDAQ:NAVI opened at $15.14 on Monday. The company has a quick ratio of 9.49, a current ratio of 9.49 and a debt-to-equity ratio of 16.59. The business’s 50-day simple moving average is $15.34 and its two-hundred day simple moving average is $15.22. The stock has a market cap of $1.63 billion, a PE ratio of 21.94 and a beta of 1.39. Navient Co. has a 52 week low of $13.71 and a 52 week high of $19.68.

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

Navient Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.64 dividend on an annualized basis and a yield of 4.23%. Navient’s dividend payout ratio is presently 92.75%.

About Navient

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.