Navient Co. (NASDAQ:NAVI) Shares Bought by Texas Permanent School Fund Corp

Posted by on Aug 1st, 2023

Texas Permanent School Fund Corp grew its position in shares of Navient Co. (NASDAQ:NAVI – Free Report) by 27.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 90,655 shares of the credit services provider’s stock after acquiring an additional 19,687 shares during the quarter. Texas Permanent School Fund Corp owned about 0.07% of Navient worth $1,450,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NAVI. State of Wyoming acquired a new stake in shares of Navient in the fourth quarter valued at about $62,000. Covestor Ltd grew its stake in shares of Navient by 87.4% in the first 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. Advisor Group Holdings Inc. grew its stake in Navient by 11.6% during the 4th quarter. Advisor Group Holdings Inc. now owns 7,646 shares of the credit services provider’s stock valued at $125,000 after purchasing an additional 797 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Navient by 70.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,508 shares of the credit services provider’s stock valued at $136,000 after purchasing an additional 3,521 shares in the last quarter. Finally, Laffer Tengler Investments acquired a new stake in Navient during the 4th quarter valued at approximately $158,000. 91.53% of the stock is currently owned by institutional investors and hedge funds.

Navient Stock Up 0.6 %

Shares of Navient stock opened at $19.04 on Tuesday. The business’s fifty day moving average price is $17.95 and its two-hundred day moving average price is $17.24. The company has a debt-to-equity ratio of 19.43, a current ratio of 12.78 and a quick ratio of 12.78. The company has a market capitalization of $2.32 billion, a P/E ratio of 6.54 and a beta of 1.57. Navient Co. has a 1-year low of $12.88 and a 1-year high of $19.69.

Navient (NASDAQ:NAVI – Get Free Report) last issued its quarterly earnings results on Wednesday, July 26th. The credit services provider reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.06). Navient had a net margin of 8.51% and a return on equity of 14.62%. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $228.53 million. During the same quarter last year, the business posted $0.92 earnings per share. As a group, research analysts forecast that Navient Co. will post 3.22 EPS for the current year.

Navient Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 16th. Investors of record on Friday, June 2nd were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date of this dividend was Thursday, June 1st. Navient’s payout ratio is 21.99%.

Wall Street Analysts Forecast Growth

NAVI has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods reduced their target price on Navient from $19.00 to $18.00 and set a “market perform” rating on the stock in a report on Tuesday, April 11th. JPMorgan Chase & Co. reduced their target price on Navient from $18.00 to $16.00 and set an “underweight” rating on the stock in a report on Monday, April 17th. StockNews.com raised Navient from a “hold” rating to a “buy” rating in a report on Thursday, July 27th. Compass Point increased their target price on Navient from $16.00 to $19.00 in a report on Tuesday, July 11th. Finally, Citigroup raised their price target on Navient from $17.00 to $19.00 in a report on Friday, July 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $18.15.

Navient Profile

(Free Report)

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 and asset recovery services on its own loan portfolio, as well as federal education loans held by other institutions.

Read More

Institutional Ownership by Quarter for Navient (NASDAQ:NAVI)

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.