Geode Capital Management LLC Sells 37,610 Shares of Navient Co. (NASDAQ:NAVI)

Geode Capital Management LLC cut its position in shares of Navient Co. (NASDAQ:NAVI) by 1.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,898,926 shares of the credit services provider’s stock after selling 37,610 shares during the period. Geode Capital Management LLC’s holdings in Navient were worth $29,610,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of NAVI. KBC Group NV boosted its stake in Navient by 47.0% during the third 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. Signaturefd LLC increased its stake 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 acquired a new stake in Navient during the third quarter valued at approximately $87,000. Harbor Capital Advisors Inc. acquired a new position in shares of Navient in the 3rd quarter worth approximately $95,000. Finally, Covestor Ltd boosted its stake in Navient by 24.6% in the 3rd quarter. Covestor Ltd now owns 7,360 shares of the credit services provider’s stock valued at $115,000 after buying an additional 1,455 shares in the last quarter. 97.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Navient

In other news, EVP Stephen M. Hauber sold 10,000 shares of the firm’s 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 transaction, the executive vice president now directly 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 document filed with the Securities & Exchange Commission, which is available at this link. 27.99% of the stock is owned by corporate insiders.

Navient Stock Performance

NAVI stock opened at $13.33 on Friday. The company has a 50 day moving average price of $14.94 and a 200 day moving average price of $15.14. Navient Co. has a fifty-two week low of $13.16 and a fifty-two week high of $19.12. The company has a debt-to-equity ratio of 16.59, a current ratio of 9.49 and a quick ratio of 9.49. The stock has a market capitalization of $1.43 billion, a PE ratio of 19.32 and a beta of 1.40.

Navient (NASDAQ:NAVI) last released its earnings results on Wednesday, October 30th. The credit services provider reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 8.62% and a net margin of 1.71%. During the same quarter in the previous year, the company posted $0.84 earnings per share. Analysts forecast that Navient Co. will post 2.47 EPS for the current year.

Navient Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.64 dividend on an annualized basis and a yield of 4.80%. Navient’s payout ratio is presently 92.75%.

Analyst Ratings Changes

NAVI has been the subject of a number of analyst reports. Barclays lifted their price objective on Navient from $10.00 to $11.00 and gave the company an “underweight” rating in a 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. JPMorgan Chase & Co. decreased their price objective on shares of Navient from $15.50 to $15.00 and set a “neutral” rating on the stock in a research note on Monday, December 9th. Bank of America cut their target price on shares of Navient from $17.00 to $16.00 and set a “neutral” rating for the company in a research note on Tuesday. Finally, TD Cowen decreased 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. Three equities research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $15.50.

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.