Alaska State Department of Revenue Reduces Stock Holdings in Navient Co. (NASDAQ:NAVI)


The Alaska State Department of Revenue reduced its position in Navient Co. (NASDAQ:NAVI – Get Rating) stock by 5.7% in the first quarter, HoldingsChannel reports. The institutional investor owned 21,981 shares of the credit service provider after selling 1,335 shares during the period. The Alaska State Department of Revenue’s holdings in Navient were worth $374,000 when it was last filed with the SEC.

Other big investors have also been buying and selling shares of the company recently. UBS Group AG increased its position in Navient by 4.1% in the third quarter. UBS Group AG now owns 180,560 shares of the credit services provider valued at $3,563,000 after purchasing an additional 7,095 shares during the period. Janus Henderson Group PLC bought a new position in Navient during the third quarter worth approximately $370,000. UBS Asset Management Americas Inc. increased its position in Navient by 5.9% during the third quarter. UBS Asset Management Americas Inc. now owns 271,344 shares of the credit services provider valued at $5,354,000 after purchasing an additional 15,160 shares during the period. Spire Wealth Management bought a new position in Navient during the fourth quarter worth about $29,000. Finally, Whittier Trust Co. increased its position in Navient by 600.0% during the fourth quarter. Whittier Trust Co. now owns 2,625 shares of the credit service provider valued at $56,000 after purchasing an additional 2,250 shares during the period. Hedge funds and other institutional investors own 80.27% of the company’s shares.

NAVI has been the subject of a number of research analyst reports. StockNews.com launched coverage on Navient shares in a research report on Thursday, March 31. They have placed a “holding” rating on the stock. JPMorgan Chase & Co. downgraded Navient shares from a “neutral” rating to an “underweight” rating and lowered its price target for the stock from $21.00 to $17.00 in a report research on Monday, April 11. Finally, Compass Point downgraded Navient shares from a “buy” rating to a “neutral” rating and set a price target of $18.00 for the stock. in a research report on Thursday, March 31. One research analyst has assigned the stock a sell rating, seven have assigned a hold rating and one has assigned the company’s stock a buy rating. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $20.86.

NAVI opened at $14.74 on Friday. The stock has a market capitalization of $2.18 billion, a price-earnings ratio of 3.99 and a beta of 1.64. The company has a fifty-day moving average of $14.94 and a 200-day moving average of $17.09. Navient Co. has a fifty-two week minimum of $12.45 and a fifty-two week maximum of $23.80. The company has a debt ratio of 25.03, a quick ratio of 19.55 and a current ratio of 19.55.

Navient (NASDAQ:NAVI – Get Rating) last released its results on Tuesday, April 26. The credit service provider reported earnings per share of $0.90 for the quarter, beating the consensus estimate of $0.76 by $0.14. The company posted revenue of $276.00 million in the quarter, compared to analysts’ expectations of $258.20 million. Navient had a net margin of 18.20% and a return on equity of 14.12%. Navient’s quarterly revenue decreased 6.4% year-over-year. During the same period last year, the company posted earnings per share of $1.71. On average, stock research analysts expect Navient Co. to post earnings per share of 3.27 for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 17. Investors of record on Friday, June 3 received a dividend of $0.16 per share. The ex-dividend date was Thursday, June 2. This represents an annualized dividend of $0.64 and a yield of 4.34%. Navient’s payout ratio is 17.34%.

Navient Company Profile (Get an evaluation)

Navient Corporation provides student loan management and business processing solutions for education, healthcare and government customers at the federal, state and local levels in the United States. It operates through three segments: Federal Education Loans, Consumer Loans and Business Processing.

See also

Want to see which other hedge funds hold NAVI? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Navient Co. (NASDAQ:NAVI – Get Rating).

Institutional Ownership by Quarter for Navient (NASDAQ:NAVI)



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