Texas Permanent School Fund Corp Sells 10,127 Shares of Navient Co. (NASDAQ:NAVI)

Texas Permanent School Fund Corp cut its holdings in Navient Co. (NASDAQ:NAVI) by 14.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,435 shares of the credit services provider’s stock after selling 10,127 shares during the period. Texas Permanent School Fund Corp owned about 0.05% of Navient worth $894,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Allspring Global Investments Holdings LLC purchased a new position in Navient in the first quarter worth $36,000. IAG Wealth Partners LLC bought a new position in Navient during the second quarter valued at about $50,000. Signaturefd LLC increased its holdings in Navient by 22.1% during the second quarter. Signaturefd LLC now owns 4,797 shares of the credit services provider’s stock worth $70,000 after buying an additional 869 shares during the last quarter. Covestor Ltd raised its position in Navient by 23.1% in the first quarter. Covestor Ltd now owns 6,245 shares of the credit services provider’s stock worth $109,000 after acquiring an additional 1,173 shares during the period. Finally, Boulder Hill Capital Management LP purchased a new position in Navient in the fourth quarter valued at about $188,000. 97.14% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on NAVI shares. Keefe, Bruyette & Woods lifted their price target on shares of Navient from $15.00 to $16.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. lowered their target price on Navient from $16.00 to $15.00 and set a “neutral” rating on the stock in a research note on Monday, July 8th. Finally, Barclays cut their price target on Navient from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Tuesday, July 9th. Three research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $15.56.

Navient Price Performance

Shares of NASDAQ NAVI opened at $15.87 on Friday. The company has a debt-to-equity ratio of 17.30, a quick ratio of 9.99 and a current ratio of 9.99. Navient Co. has a fifty-two week low of $13.95 and a fifty-two week high of $19.68. The stock has a market cap of $1.77 billion, a PE ratio of 10.17 and a beta of 1.39. The stock has a fifty day moving average of $15.60 and a 200-day moving average of $15.59.

Navient (NASDAQ:NAVI) last posted its earnings results on Wednesday, July 24th. The credit services provider reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.14). Navient had a net margin of 3.41% and a return on equity of 11.06%. The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $157.27 million. During the same period in the previous year, the firm earned $0.70 EPS. Equities research analysts anticipate that Navient Co. will post 1.43 earnings per share for the current year.

Navient Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 4.03%. The ex-dividend date of this dividend was Friday, September 6th. Navient’s dividend payout ratio is presently 41.03%.

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.