Navient Corp (NAVI) Position Cut by Heritage Investors Management Corp
Heritage Investors Management Corp reduced its holdings in shares of Navient Corp (NASDAQ:NAVI) by 3.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 132,690 shares of the credit services provider’s stock after selling 4,569 shares during the quarter. Heritage Investors Management Corp’s holdings in Navient were worth $1,767,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new stake in Navient during the third quarter worth approximately $121,000. Advisors Asset Management Inc. grew its stake in Navient by 84.0% during the third quarter. Advisors Asset Management Inc. now owns 10,168 shares of the credit services provider’s stock worth $153,000 after buying an additional 4,642 shares during the period. Thrivent Financial For Lutherans grew its stake in Navient by 1.0% during the second quarter. Thrivent Financial For Lutherans now owns 10,770 shares of the credit services provider’s stock worth $179,000 after buying an additional 110 shares during the period. First Midwest Bank Trust Division purchased a new stake in Navient during the third quarter worth approximately $175,000. Finally, Point View Wealth Management Inc. purchased a new stake in Navient during the third quarter worth approximately $309,000. Institutional investors own 89.75% of the company’s stock.
NAVI has been the topic of a number of recent research reports. Citigroup initiated coverage on shares of Navient in a research report on Monday, October 16th. They set a “buy” rating and a $20.00 target price on the stock. ValuEngine raised shares of Navient from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Zacks Investment Research raised shares of Navient from a “sell” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Friday, January 12th. Jefferies Group reissued a “hold” rating and set a $14.00 target price on shares of Navient in a research report on Thursday, January 11th. Finally, Oppenheimer initiated coverage on shares of Navient in a research report on Monday, January 8th. They set a “hold” rating on the stock. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. Navient currently has a consensus rating of “Hold” and an average target price of $17.45.
Navient (NASDAQ:NAVI) last posted its quarterly earnings results on Tuesday, January 23rd. The credit services provider reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.01. The firm had revenue of $366.00 million for the quarter, compared to analysts’ expectations of $362.33 million. Navient had a net margin of 5.94% and a return on equity of 13.90%. During the same period in the prior year, the company posted $0.43 earnings per share. research analysts anticipate that Navient Corp will post 1.91 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Investors of record on Friday, March 2nd will be issued a $0.16 dividend. The ex-dividend date is Thursday, March 1st. This represents a $0.64 annualized dividend and a yield of 4.72%. Navient’s dividend payout ratio is presently 63.37%.
In related news, SVP Stephen M. Hauber sold 17,423 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $14.40, for a total value of $250,891.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.68% of the company’s stock.
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Navient Corporation provides asset management and business processing services to education, healthcare and government clients at the federal, state and local levels. The Company holds the portfolio of education loans insured or federally guaranteed under the Federal Family Education Loan Program (FFELP).
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