Wellington Management Group LLP Increases Stock Holdings in Navient Co. (NASDAQ:NAVI)

Wellington Management Group LLP boosted its stake in Navient Co. (NASDAQ:NAVI) by 0.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 892,828 shares of the credit services provider’s stock after buying an additional 8,117 shares during the quarter. Wellington Management Group LLP’s holdings in Navient were worth $13,919,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of NAVI. The Manufacturers Life Insurance Company raised its holdings in shares of Navient by 1.6% in the second quarter. The Manufacturers Life Insurance Company now owns 46,534 shares of the credit services provider’s stock valued at $678,000 after purchasing an additional 722 shares during the last quarter. Signaturefd LLC grew its position in Navient by 22.1% in the 2nd quarter. Signaturefd LLC now owns 4,797 shares of the credit services provider’s stock worth $70,000 after purchasing an additional 869 shares in the last quarter. Wedge Capital Management L L P NC increased its stake in Navient by 2.7% in the 3rd 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. KBC Group NV lifted its position in shares of Navient by 47.0% during the 3rd quarter. KBC Group NV now owns 4,355 shares of the credit services provider’s stock worth $68,000 after buying an additional 1,392 shares in the last quarter. Finally, Xponance Inc. lifted its position in shares of Navient by 11.5% during the 2nd quarter. Xponance Inc. now owns 13,944 shares of the credit services provider’s stock worth $203,000 after buying an additional 1,440 shares in the last quarter. 97.14% of the stock is currently owned by institutional investors.

Insider Activity at Navient

In related news, EVP Stephen M. Hauber sold 10,000 shares of Navient stock in a transaction 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 sale, the executive vice president now owns 256,883 shares of the company’s stock, valued at approximately $3,853,245. This trade represents a 3.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 27.99% of the stock is owned by corporate insiders.

Navient Stock Down 1.9 %

Navient stock opened at $14.82 on Friday. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of 21.48 and a beta of 1.40. The firm has a 50 day simple moving average of $15.20 and a 200 day simple moving average of $15.18. Navient Co. has a 1-year low of $13.71 and a 1-year high of $19.68. The company has a current ratio of 9.49, a quick ratio of 9.49 and a debt-to-equity ratio of 16.59.

Navient (NASDAQ:NAVI) last announced its quarterly earnings results on Wednesday, October 30th. The credit services provider reported $1.45 earnings per share for the quarter, beating the consensus estimate of $0.25 by $1.20. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $150.04 million. Navient had a return on equity of 8.62% and a net margin of 1.71%. During the same period in the previous year, the business earned $0.84 earnings per share. On average, analysts predict that Navient Co. will post 2.47 earnings per share for the current year.

Navient Announces Dividend

The company also recently disclosed 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 dividend payout ratio is currently 92.75%.

Wall Street Analyst Weigh In

A number of analysts recently commented on NAVI shares. Barclays increased their price target on Navient from $10.00 to $11.00 and gave the company an “underweight” rating in a research report on Tuesday, October 8th. StockNews.com raised shares of Navient from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Bank of America began coverage on shares of Navient in a report on Monday, September 30th. They set a “neutral” rating and a $17.00 price objective for the company. TD Cowen dropped their target price on shares of Navient from $14.00 to $13.00 and set a “sell” rating on the stock in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. decreased their price target on shares of Navient from $15.50 to $15.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $15.63.

About Navient

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.