UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 12,816 Shares of Navient Co. (NASDAQ:NAVI)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in Navient Co. (NASDAQ:NAVI) by 7.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 162,069 shares of the credit services provider’s stock after selling 12,816 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Navient were worth $2,527,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Donald Smith & CO. Inc. increased its position in Navient by 27.8% during the third quarter. Donald Smith & CO. Inc. now owns 3,581,311 shares of the credit services provider’s stock valued at $55,833,000 after acquiring an additional 779,973 shares during the last quarter. American Century Companies Inc. increased its position in shares of Navient by 12.1% during the 2nd quarter. American Century Companies Inc. now owns 1,582,928 shares of the credit services provider’s stock valued at $23,047,000 after purchasing an additional 171,160 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Navient by 1.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,092,270 shares of the credit services provider’s stock worth $17,028,000 after purchasing an additional 19,606 shares during the period. Empowered Funds LLC boosted its holdings in shares of Navient by 5.4% in the third quarter. Empowered Funds LLC now owns 444,467 shares of the credit services provider’s stock worth $6,929,000 after buying an additional 22,646 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in Navient by 0.9% during the second quarter. Victory Capital Management Inc. now owns 322,820 shares of the credit services provider’s stock valued at $4,700,000 after buying an additional 2,991 shares during the period. 97.14% of the stock is currently owned by hedge funds and other institutional investors.

Navient Price Performance

Shares of Navient stock opened at $14.82 on Friday. The company has a quick ratio of 9.49, a current ratio of 9.49 and a debt-to-equity ratio of 16.59. Navient Co. has a 52 week low of $13.71 and a 52 week high of $19.68. The stock’s 50-day simple moving average is $15.20 and its 200-day simple moving average is $15.18. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 21.48 and a beta of 1.40.

Navient (NASDAQ:NAVI) last posted its quarterly earnings results on Wednesday, October 30th. The credit services provider reported $1.45 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $150.04 million. During the same period in the prior year, the company posted $0.84 EPS. As a group, analysts expect that Navient Co. will post 2.47 earnings per share for the current fiscal year.

Navient Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.64 annualized dividend and a yield of 4.32%. Navient’s payout ratio is 92.75%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. StockNews.com upgraded shares of Navient from a “hold” rating to a “buy” rating in a research 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, December 9th. Bank of America began coverage on Navient in a report on Monday, September 30th. They set a “neutral” rating and a $17.00 price target for the company. Barclays raised their price objective on Navient from $10.00 to $11.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 8th. Finally, TD Cowen cut their price objective on Navient from $14.00 to $13.00 and set a “sell” rating for the company in a research note on Friday, November 1st. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $15.63.

Insider Buying and Selling at Navient

In other Navient news, EVP Stephen M. Hauber sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $15.00, for a total transaction of $150,000.00. Following the completion of the transaction, the executive vice president now owns 256,883 shares in the company, valued at $3,853,245. This trade represents a 3.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 27.99% of the stock is currently owned by insiders.

Navient Company 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.