Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Navient Co. (NASDAQ:NAVI – Get Rating) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 89,500 shares of the credit services provider’s stock, valued at approximately $1,315,000. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.07% of Navient at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Signaturefd LLC lifted its position in shares of Navient by 89.2% during the 3rd quarter. Signaturefd LLC now owns 2,937 shares of the credit services provider’s stock valued at $43,000 after buying an additional 1,385 shares in the last quarter. Covestor Ltd lifted its position in shares of Navient by 87.4% during the 1st quarter. Covestor Ltd now owns 5,042 shares of the credit services provider’s stock valued at $86,000 after buying an additional 2,352 shares in the last quarter. Wipfli Financial Advisors LLC purchased a new position in shares of Navient during the 3rd quarter valued at approximately $88,000. Meeder Asset Management Inc. lifted its position in shares of Navient by 24.9% during the 2nd quarter. Meeder Asset Management Inc. now owns 6,848 shares of the credit services provider’s stock valued at $96,000 after buying an additional 1,367 shares in the last quarter. Finally, Quantinno Capital Management LP purchased a new position in Navient in the 3rd quarter valued at $148,000. Hedge funds and other institutional investors own 70.48% of the company’s stock.
Navient Stock Down 0.5 %
Shares of NASDAQ:NAVI opened at $18.17 on Monday. The business has a 50-day moving average price of $17.73 and a 200 day moving average price of $16.26. The company has a current ratio of 11.42, a quick ratio of 12.32 and a debt-to-equity ratio of 20.50. The company has a market capitalization of $2.46 billion, a price-to-earnings ratio of 4.11 and a beta of 1.54. Navient Co. has a 12-month low of $12.45 and a 12-month high of $19.34.
Navient Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, March 17th. Investors of record on Friday, March 3rd will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date is Thursday, March 2nd. Navient’s dividend payout ratio (DPR) is 14.48%.
Wall Street Analyst Weigh In
NAVI has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price objective on Navient from $14.50 to $17.00 in a report on Tuesday, January 10th. Barclays raised their price objective on Navient from $16.00 to $19.00 in a report on Friday, January 6th. StockNews.com lowered Navient from a “buy” rating to a “hold” rating in a report on Friday, February 17th. BMO Capital Markets raised their price objective on Navient from $17.00 to $19.00 and gave the company a “market perform” rating in a report on Thursday, January 26th. Finally, Morgan Stanley raised Navient from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $14.00 to $16.00 in a research note on Thursday, December 1st. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $17.40.
Insider Activity at Navient
In related news, EVP John M. Kane sold 17,006 shares of the firm’s stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $16.56, for a total transaction of $281,619.36. Following the completion of the transaction, the executive vice president now directly owns 607,303 shares in the company, valued at approximately $10,056,937.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Stephen M. Hauber sold 11,351 shares of Navient stock in a transaction dated Friday, January 27th. The stock was sold at an average price of $19.17, for a total value of $217,598.67. Following the completion of the transaction, the executive vice president now owns 217,081 shares in the company, valued at approximately $4,161,442.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John M. Kane sold 17,006 shares of Navient stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $16.56, for a total value of $281,619.36. Following the completion of the transaction, the executive vice president now owns 607,303 shares of the company’s stock, valued at approximately $10,056,937.68. The disclosure for this sale can be found here. 22.10% of the stock is currently owned by company insiders.
About Navient
Navient Corp. engages in the provision of asset management and business processing solutions for education, healthcare and government clients at the federal, state and local levels. It operates through the following segments: Federal Education Loans, Consumer Lending, Business Processing and Other. The Federal Education Loans segment owns FFELP Loans and performs servicing and asset recovery services on FFELP Loan portfolio.
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