Harbor Capital Advisors Inc. Takes $95,000 Position in Navient Co. (NASDAQ:NAVI)

Harbor Capital Advisors Inc. purchased a new position in Navient Co. (NASDAQ:NAVI) during the third quarter, HoldingsChannel reports. The firm purchased 6,108 shares of the credit services provider’s stock, valued at approximately $95,000.

Several other institutional investors also recently bought and sold shares of the company. First Trust Direct Indexing L.P. lifted its stake in shares of Navient by 12.0% in the third quarter. First Trust Direct Indexing L.P. now owns 13,942 shares of the credit services provider’s stock worth $217,000 after buying an additional 1,491 shares in the last quarter. Donald Smith & CO. Inc. boosted its stake in Navient by 27.8% during the 3rd quarter. Donald Smith & CO. Inc. now owns 3,581,311 shares of the credit services provider’s stock valued at $55,833,000 after purchasing an additional 779,973 shares during the last quarter. nVerses Capital LLC bought a new stake in shares of Navient in the 3rd quarter worth $87,000. Creative Planning raised its stake in shares of Navient by 32.2% in the third quarter. Creative Planning now owns 55,387 shares of the credit services provider’s stock worth $863,000 after purchasing an additional 13,497 shares during the last quarter. Finally, Wedge Capital Management L L P NC boosted its position in shares of Navient by 2.7% during the third quarter. Wedge Capital Management L L P NC now owns 45,584 shares of the credit services provider’s stock valued at $711,000 after buying an additional 1,218 shares during the last quarter. 97.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Navient

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

Navient Stock Performance

NASDAQ:NAVI opened at $15.08 on Friday. The stock has a 50-day simple moving average of $15.43 and a two-hundred day simple moving average of $15.24. The company has a debt-to-equity ratio of 16.59, a quick ratio of 9.49 and a current ratio of 9.49. Navient Co. has a 52-week low of $13.71 and a 52-week high of $19.68. The firm has a market capitalization of $1.62 billion, a PE ratio of 21.86 and a beta of 1.39.

Navient (NASDAQ:NAVI) last released its earnings results on Wednesday, October 30th. The credit services provider reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $1.20. Navient had a net margin of 1.71% and a return on equity of 8.62%. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $150.04 million. During the same period in the prior year, the firm posted $0.84 EPS. Analysts forecast that Navient Co. will post 2.14 EPS for the current year.

Navient Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.64 annualized dividend and a dividend yield of 4.24%. Navient’s payout ratio is 92.75%.

Analysts Set New Price Targets

NAVI has been the topic of several research analyst reports. StockNews.com upgraded shares of Navient from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Barclays increased their price objective on shares of Navient from $10.00 to $11.00 and gave the company an “underweight” rating in a research report on Tuesday, October 8th. TD Cowen cut their target price on shares of Navient from $14.00 to $13.00 and set a “sell” rating for the company in a research report on Friday, November 1st. JPMorgan Chase & Co. increased their price target on Navient from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, October 7th. Finally, Keefe, Bruyette & Woods lifted their price objective on Navient from $15.00 to $16.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Navient currently has an average rating of “Hold” and a consensus price target of $15.78.

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.