Guggenheim Capital LLC cut its position in Navient Co. (NASDAQ:NAVI – Get Rating) by 10.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 68,502 shares of the credit services provider’s stock after selling 7,795 shares during the quarter. Guggenheim Capital LLC owned approximately 0.05% of Navient worth $1,006,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of NAVI. Cambridge Investment Research Advisors Inc. acquired a new position in Navient in the 1st quarter valued at $236,000. AlphaCrest Capital Management LLC bought a new position in Navient in the 1st quarter worth approximately $382,000. MetLife Investment Management LLC lifted its holdings in shares of Navient by 36.6% during the first quarter. MetLife Investment Management LLC now owns 180,855 shares of the credit services provider’s stock worth $3,082,000 after buying an additional 48,483 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Navient by 5.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 56,439 shares of the credit services provider’s stock worth $962,000 after buying an additional 3,003 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its position in shares of Navient by 22.9% in the first quarter. Allianz Asset Management GmbH now owns 2,641,958 shares of the credit services provider’s stock valued at $45,019,000 after acquiring an additional 491,644 shares during the period. 70.48% of the stock is currently owned by institutional investors and hedge funds.
Navient Price Performance
Navient stock opened at $17.70 on Wednesday. The business has a 50 day simple moving average of $17.94 and a 200 day simple moving average of $16.31. The company has a debt-to-equity ratio of 20.50, a current ratio of 11.42 and a quick ratio of 11.42. The company has a market capitalization of $2.28 billion, a PE ratio of 4.00 and a beta of 1.53. Navient Co. has a one year low of $12.45 and a one year high of $19.34.
Navient Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 17th. Stockholders of record on Friday, March 3rd will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 3.62%. The ex-dividend date of this dividend is Thursday, March 2nd. Navient’s payout ratio is currently 14.48%.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on NAVI shares. Barclays boosted their target price on shares of Navient from $16.00 to $19.00 in a research report on Friday, January 6th. StockNews.com cut shares of Navient from a “buy” rating to a “hold” rating in a research note on Friday, February 17th. Stephens boosted their price target on Navient from $17.00 to $20.00 in a research note on Thursday, January 26th. Citigroup raised their price objective on Navient from $15.00 to $19.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 1st. Finally, Morgan Stanley raised Navient from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $14.00 to $16.00 in a report on Thursday, December 1st. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $17.40.
Insider Activity at Navient
In other Navient news, EVP Stephen M. Hauber sold 11,351 shares of the business’s stock in a transaction on Friday, January 27th. The stock was sold at an average price of $19.17, for a total value of $217,598.67. Following the transaction, the executive vice president now owns 217,081 shares of the company’s stock, valued at $4,161,442.77. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP John M. Kane sold 17,006 shares of Navient stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $16.56, for a total value of $281,619.36. Following the completion of the sale, the executive vice president now directly owns 607,303 shares of the company’s stock, valued at approximately $10,056,937.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Stephen M. Hauber sold 11,351 shares of the business’s stock in a transaction on Friday, January 27th. The stock was sold at an average price of $19.17, for a total value of $217,598.67. Following the sale, the executive vice president now owns 217,081 shares of the company’s stock, valued at approximately $4,161,442.77. The disclosure for this sale can be found here. Insiders own 22.10% of the company’s stock.
Navient Company Profile
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.
Featured Articles
- Get a free copy of the StockNews.com research report on Navient (NAVI)
- Under-the-Radar Azul SA Takes Flight on Robust Travel Demand
- Market Gets “Powelled”: S&P 500 Confirms Resistance
- Rivian Plummets, But Is This 2023’s Greatest Buying Opportunity?
- Ulta Insiders Hold Tight: Sell-Siders Buy
- Potential Earnings Have Rated Ambrx Biopharma a Moderate Buy
Receive News & Ratings for Navient Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Navient and related companies with MarketBeat.com's FREE daily email newsletter.
