Principal Financial Group Inc. cut its holdings in Navient Co. (NASDAQ:NAVI – Get Rating) by 5.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 966,575 shares of the credit services provider’s stock after selling 54,512 shares during the quarter. Principal Financial Group Inc. owned approximately 0.60% of Navient worth $20,511,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Spire Wealth Management purchased a new position in shares of Navient during the fourth quarter valued at approximately $29,000. Whittier Trust Co. lifted its stake in shares of Navient by 600.0% during the fourth quarter. Whittier Trust Co. now owns 2,625 shares of the credit services provider’s stock valued at $56,000 after buying an additional 2,250 shares during the period. Chickasaw Capital Management LLC purchased a new position in shares of Navient during the fourth quarter valued at approximately $202,000. Cornerstone Investment Partners LLC purchased a new position in shares of Navient during the fourth quarter valued at approximately $202,000. Finally, Advisor Group Holdings Inc. lifted its stake in shares of Navient by 8.5% during the third quarter. Advisor Group Holdings Inc. now owns 10,344 shares of the credit services provider’s stock valued at $203,000 after buying an additional 807 shares during the period. Institutional investors and hedge funds own 80.27% of the company’s stock.
Several brokerages recently issued reports on NAVI. Compass Point downgraded shares of Navient from a “buy” rating to a “neutral” rating and set a $18.00 price objective on the stock. in a research note on Thursday, March 31st. TheStreet downgraded shares of Navient from a “b” rating to a “c+” rating in a research note on Tuesday, January 25th. StockNews.com began coverage on shares of Navient in a research note on Thursday, March 31st. They set a “hold” rating on the stock. JPMorgan Chase & Co. downgraded shares of Navient from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $21.00 to $17.00 in a research note on Monday, April 11th. Finally, Credit Suisse Group cut their price target on shares of Navient from $20.00 to $18.00 and set a “neutral” rating on the stock in a research note on Thursday, January 27th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $21.00.
NASDAQ:NAVI opened at $16.29 on Wednesday. The business’s 50-day moving average is $16.64 and its two-hundred day moving average is $18.61. The company has a debt-to-equity ratio of 25.03, a current ratio of 19.55 and a quick ratio of 19.55. Navient Co. has a 12 month low of $14.56 and a 12 month high of $23.80. The firm has a market capitalization of $2.41 billion, a PE ratio of 4.41 and a beta of 1.65.
Navient (NASDAQ:NAVI – Get Rating) last released its quarterly earnings data on Tuesday, April 26th. The credit services provider reported $0.88 EPS for the quarter, beating the consensus estimate of $0.75 by $0.13. Navient had a return on equity of 14.12% and a net margin of 18.20%. The company had revenue of $276.00 million for the quarter, compared to analyst estimates of $258.20 million. During the same period last year, the company posted $1.71 earnings per share. The firm’s revenue was down 6.4% compared to the same quarter last year. Equities analysts anticipate that Navient Co. will post 3.28 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 18th. Stockholders of record on Friday, March 4th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date was Thursday, March 3rd. Navient’s payout ratio is 17.34%.
About Navient (Get Rating)
Navient Corporation provides education loan management and business processing solutions for education, healthcare, and government clients at the federal, state, and local levels in the United States. It operates through three segments: Federal Education Loans, Consumer Lending, and Business Processing.
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