Navient Co. (NASDAQ:NAVI) Stock Holdings Lowered by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC trimmed its holdings in shares of Navient Co. (NASDAQ:NAVI) by 53.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,057 shares of the credit services provider’s stock after selling 7,050 shares during the period. Nisa Investment Advisors LLC’s holdings in Navient were worth $94,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC acquired a new position in shares of Navient in the 1st quarter worth $36,000. IAG Wealth Partners LLC acquired a new stake in Navient during the 2nd quarter worth about $50,000. Signaturefd LLC lifted its stake 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 buying an additional 869 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of Navient in the third quarter worth about $87,000. Finally, Covestor Ltd increased its position in shares of Navient by 23.1% in the first quarter. Covestor Ltd now owns 6,245 shares of the credit services provider’s stock worth $109,000 after acquiring an additional 1,173 shares in the last quarter. Institutional investors and hedge funds own 97.14% of the company’s stock.

Navient Stock Down 3.1 %

Shares of Navient stock opened at $15.25 on Friday. The stock has a 50-day simple moving average of $15.47 and a 200-day simple moving average of $15.25. Navient Co. has a 52-week low of $13.71 and a 52-week high of $19.68. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of 22.10 and a beta of 1.39. The company has a debt-to-equity ratio of 16.59, a current ratio of 9.49 and a quick ratio of 9.49.

Navient (NASDAQ:NAVI) last posted its earnings results on Wednesday, October 30th. The credit services provider reported $1.45 EPS for the quarter, topping the consensus estimate of $0.25 by $1.20. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $150.04 million. Navient had a net margin of 1.71% and a return on equity of 8.62%. During the same period in the previous year, the firm posted $0.84 earnings per share. On average, equities research analysts expect that Navient Co. will post 1.79 earnings per share for the current fiscal year.

Navient Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were issued a dividend of $0.16 per share. The ex-dividend date was Friday, September 6th. This represents a $0.64 annualized dividend and a yield of 4.20%. Navient’s dividend payout ratio (DPR) is currently 92.75%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on NAVI shares. Bank of America assumed coverage on shares of Navient in a research report on Monday, September 30th. They issued a “neutral” rating and a $17.00 price target for the company. Barclays raised their target price on Navient from $10.00 to $11.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 8th. TD Cowen dropped their price target on Navient from $14.00 to $13.00 and set a “sell” rating on the stock in a research report on Friday, November 1st. StockNews.com raised Navient from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. lifted their target price on Navient from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, October 7th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $15.78.

Insider Buying and Selling at Navient

In other news, EVP Stephen M. Hauber sold 10,000 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $15.00, for a total transaction of $150,000.00. Following the transaction, the executive vice president now owns 256,883 shares of the company’s stock, valued at approximately $3,853,245. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 27.99% of the company’s stock.

Navient 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.