Citigroup Inc. raised its stake in Navient Co. (NASDAQ:NAVI – Get Rating) by 4.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 131,753 shares of the credit services provider’s stock after purchasing an additional 5,801 shares during the quarter. Citigroup Inc. owned 0.10% of Navient worth $2,167,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Raymond James & Associates grew its position in Navient by 3.0% in the 4th quarter. Raymond James & Associates now owns 44,276 shares of the credit services provider’s stock valued at $728,000 after buying an additional 1,271 shares during the last quarter. UBS Group AG increased its stake in shares of Navient by 386.1% during the fourth quarter. UBS Group AG now owns 176,997 shares of the credit services provider’s stock worth $2,912,000 after acquiring an additional 140,587 shares during the period. Fox Run Management L.L.C. purchased a new position in Navient during the fourth quarter worth about $612,000. Envestnet Asset Management Inc. raised its holdings in Navient by 6.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 29,074 shares of the credit services provider’s stock worth $478,000 after purchasing an additional 1,860 shares in the last quarter. Finally, ProShare Advisors LLC lifted its position in Navient by 10.3% in the fourth quarter. ProShare Advisors LLC now owns 20,221 shares of the credit services provider’s stock valued at $333,000 after purchasing an additional 1,891 shares during the period. Institutional investors and hedge funds own 70.48% of the company’s stock.
Navient Price Performance
Navient stock opened at $15.13 on Thursday. The firm’s 50-day moving average is $15.67 and its two-hundred day moving average is $16.66. The company has a debt-to-equity ratio of 19.40, a current ratio of 10.99 and a quick ratio of 10.99. The stock has a market capitalization of $1.91 billion, a P/E ratio of 4.19 and a beta of 1.52. Navient Co. has a 12-month low of $12.45 and a 12-month high of $19.34.
Wall Street Analysts Forecast Growth
NAVI has been the subject of several recent analyst reports. Keefe, Bruyette & Woods reduced their price target on Navient from $19.00 to $18.00 and set a “market perform” rating for the company in a report on Tuesday, April 11th. Credit Suisse Group increased their target price on shares of Navient from $14.00 to $16.50 and gave the company a “neutral” rating in a report on Thursday, January 26th. JPMorgan Chase & Co. decreased their price target on Navient from $18.00 to $16.00 and set an “underweight” rating on the stock in a research note on Monday, April 17th. Stephens raised their price objective on Navient from $17.00 to $20.00 in a research note on Thursday, January 26th. Finally, Morgan Stanley lowered their target price on Navient from $19.00 to $17.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 5th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $17.30.
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.
Further Reading
- Get a free copy of the StockNews.com research report on Navient (NAVI)
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