BNP Paribas Financial Markets trimmed its stake in Navient Co. (NASDAQ:NAVI – Free Report) by 24.3% during the third quarter, HoldingsChannel.com reports. The fund owned 68,050 shares of the credit services provider’s stock after selling 21,859 shares during the quarter. BNP Paribas Financial Markets’ holdings in Navient were worth $1,061,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of NAVI. KBC Group NV grew its position in Navient by 47.0% in the third quarter. KBC Group NV now owns 4,355 shares of the credit services provider’s stock valued at $68,000 after acquiring an additional 1,392 shares during the period. Signaturefd LLC grew its position in Navient by 22.1% in the second quarter. Signaturefd LLC now owns 4,797 shares of the credit services provider’s stock valued at $70,000 after acquiring an additional 869 shares during the period. nVerses Capital LLC bought a new stake in shares of Navient during the third quarter worth $87,000. Harbor Capital Advisors Inc. bought a new stake in shares of Navient during the third quarter worth $95,000. Finally, Covestor Ltd grew its holdings in shares of Navient by 24.6% during the third quarter. Covestor Ltd now owns 7,360 shares of the credit services provider’s stock worth $115,000 after purchasing an additional 1,455 shares during the last quarter. 97.14% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Navient
In other Navient 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 value 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 3.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 27.99% of the company’s stock.
Navient Trading Up 0.4 %
Navient (NASDAQ:NAVI – Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The credit services provider reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $1.20. Navient had a return on equity of 8.62% and a net margin of 1.71%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $150.04 million. During the same quarter in the prior year, the firm posted $0.84 earnings per share. As a group, research analysts predict that Navient Co. will post 2.47 earnings per share for the current year.
Navient Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 4.31%. The ex-dividend date is Friday, December 6th. Navient’s payout ratio is 92.75%.
Analyst Upgrades and Downgrades
Several analysts have recently commented on NAVI shares. Bank of America started coverage on Navient in a report on Monday, September 30th. They set a “neutral” rating and a $17.00 target price on the stock. Barclays increased their target price on Navient from $10.00 to $11.00 and gave the stock an “underweight” rating in a report on Tuesday, October 8th. StockNews.com upgraded Navient from a “hold” rating to a “buy” rating in a report on Friday, November 1st. JPMorgan Chase & Co. decreased their target price on Navient from $15.50 to $15.00 and set a “neutral” rating on the stock in a report on Monday. Finally, TD Cowen decreased their target price on Navient from $14.00 to $13.00 and set a “sell” rating on the stock in a report on Friday, November 1st. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $15.63.
Check Out Our Latest Analysis on NAVI
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.
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