American Century Companies Inc. increased its holdings in shares of Navient Co. (NASDAQ:NAVI – Free Report) by 12.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,003,813 shares of the credit services provider’s stock after acquiring an additional 114,149 shares during the period. American Century Companies Inc. owned approximately 0.79% of Navient worth $16,051,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the business. Russell Investments Group Ltd. grew its stake in shares of Navient by 5.0% during the 1st quarter. Russell Investments Group Ltd. now owns 218,986 shares of the credit services provider’s stock worth $3,500,000 after purchasing an additional 10,337 shares during the period. AXQ Capital LP purchased a new position in Navient in the fourth quarter valued at about $233,000. Wakefield Asset Management LLLP acquired a new stake in shares of Navient during the 1st quarter valued at approximately $676,000. Texas Permanent School Fund Corp boosted its stake in shares of Navient by 27.7% during the 1st quarter. Texas Permanent School Fund Corp now owns 90,655 shares of the credit services provider’s stock worth $1,450,000 after acquiring an additional 19,687 shares in the last quarter. Finally, Citigroup Inc. grew its holdings in shares of Navient by 4.6% in the 4th quarter. Citigroup Inc. now owns 131,753 shares of the credit services provider’s stock worth $2,167,000 after acquiring an additional 5,801 shares during the period. Hedge funds and other institutional investors own 94.85% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts have commented on the company. Citigroup boosted their target price on Navient from $17.00 to $19.00 in a research report on Friday, July 7th. StockNews.com initiated coverage on shares of Navient in a research note on Thursday, August 17th. They issued a “buy” rating on the stock. Finally, Compass Point reduced their price target on shares of Navient from $19.00 to $18.00 and set a “neutral” rating on the stock in a report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Navient presently has a consensus rating of “Hold” and an average target price of $18.05.
Navient Price Performance
Navient stock opened at $18.16 on Friday. The stock has a market capitalization of $2.21 billion, a P/E ratio of 6.24 and a beta of 1.57. Navient Co. has a 12-month low of $12.88 and a 12-month high of $19.69. 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 firm’s 50-day moving average is $18.37 and its two-hundred day moving average is $17.18.
Navient (NASDAQ:NAVI – Get Free Report) last announced its earnings results on Wednesday, July 26th. The credit services provider reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.06). The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $228.53 million. Navient had a return on equity of 14.62% and a net margin of 8.51%. During the same quarter last year, the business posted $0.92 EPS. Equities analysts predict that Navient Co. will post 3.37 earnings per share for the current year.
Navient Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be paid a $0.16 dividend. The ex-dividend date is Thursday, August 31st. This represents a $0.64 annualized dividend and a yield of 3.52%. Navient’s payout ratio is currently 21.99%.
Insider Buying and Selling
In other Navient news, EVP Mark L. Heleen sold 20,000 shares of Navient stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $19.01, for a total value of $380,200.00. Following the completion of the sale, the executive vice president now owns 404,056 shares in the company, valued at approximately $7,681,104.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 22.10% of the stock is currently owned by company insiders.
Navient Profile
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.
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