Gilman Hill Asset Management LLC boosted its holdings in shares of Navient Corp (NASDAQ:NAVI) by 3.3% in the 3rd quarter, Holdings Channel reports. The firm owned 630,207 shares of the credit services provider’s stock after buying an additional 20,083 shares during the period. Navient accounts for about 2.1% of Gilman Hill Asset Management LLC’s holdings, making the stock its 11th largest position. Gilman Hill Asset Management LLC’s holdings in Navient were worth $5,325,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Louisiana State Employees Retirement System lifted its stake in Navient by 3.6% during the second quarter. Louisiana State Employees Retirement System now owns 42,600 shares of the credit services provider’s stock worth $299,000 after purchasing an additional 1,500 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in Navient by 34.0% during the second quarter. Parkside Financial Bank & Trust now owns 6,551 shares of the credit services provider’s stock worth $46,000 after purchasing an additional 1,664 shares during the last quarter. Mutual of America Capital Management LLC lifted its stake in Navient by 1.1% during the second quarter. Mutual of America Capital Management LLC now owns 160,558 shares of the credit services provider’s stock worth $1,129,000 after purchasing an additional 1,767 shares during the last quarter. Signaturefd LLC lifted its stake in Navient by 33.2% during the second quarter. Signaturefd LLC now owns 7,988 shares of the credit services provider’s stock worth $56,000 after purchasing an additional 1,993 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in Navient by 8.6% during the third quarter. State of Alaska Department of Revenue now owns 33,087 shares of the credit services provider’s stock worth $279,000 after purchasing an additional 2,611 shares during the last quarter. Hedge funds and other institutional investors own 95.93% of the company’s stock.

Several research analysts have recently issued reports on NAVI shares. BidaskClub upgraded shares of Navient from a “hold” rating to a “buy” rating in a report on Wednesday, October 7th. Compass Point reiterated a “market perform” rating and set a $11.00 price target on shares of Navient in a report on Monday, August 3rd. JPMorgan Chase & Co. upped their price target on shares of Navient from $9.50 to $11.50 and gave the stock an “overweight” rating in a report on Friday, October 9th. Finally, Zacks Investment Research upgraded shares of Navient from a “strong sell” rating to a “hold” rating and set a $8.50 price target for the company in a report on Monday, July 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. Navient currently has a consensus rating of “Hold” and a consensus target price of $11.89.

NASDAQ NAVI opened at $9.79 on Friday. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of 6.44 and a beta of 1.86. Navient Corp has a twelve month low of $4.07 and a twelve month high of $15.50. The stock has a fifty day simple moving average of $8.78 and a 200 day simple moving average of $7.93. The company has a quick ratio of 11.82, a current ratio of 11.82 and a debt-to-equity ratio of 37.75.

Navient (NASDAQ:NAVI) last posted its quarterly earnings data on Tuesday, July 21st. The credit services provider reported $0.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.45. Navient had a return on equity of 21.05% and a net margin of 7.38%. The business had revenue of $329.00 million during the quarter, compared to the consensus estimate of $284.50 million. Research analysts expect that Navient Corp will post 2.91 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Friday, September 4th were issued a dividend of $0.16 per share. The ex-dividend date was Thursday, September 3rd. This represents a $0.64 dividend on an annualized basis and a yield of 6.54%. Navient’s payout ratio is currently 24.24%.

In other Navient news, CEO John F. Remondi purchased 50,000 shares of the firm’s stock in a transaction on Friday, July 31st. The stock was purchased at an average cost of $7.82 per share, for a total transaction of $391,000.00. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Anna Escobedo Cabral acquired 6,000 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were bought at an average cost of $8.81 per share, for a total transaction of $52,860.00. Following the transaction, the director now directly owns 24,226 shares in the company, valued at $213,431.06. The disclosure for this purchase can be found here. Company insiders own 1.85% of the company’s stock.

Navient Company Profile

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 in three segments: Federal Education Loans, Consumer Lending, and Business Processing. The company holds and acquires Federal Family Education Loan Program loans that are insured or guaranteed by state or not-for-profit agencies; and performs servicing and asset recovery services on its own loan portfolio, and federal education loans owned by the United States Department of Education and other institutions.

Further Reading: Why are trading ranges significant?

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Institutional Ownership by Quarter for Navient (NASDAQ:NAVI)

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