Shell Asset Management Co. Lowers Stock Holdings in Navient Co. (NASDAQ:NAVI)


Shell Asset Management Co. lessened its stake in Navient Co. (NASDAQ:NAVI – Get Rating) by 12.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 18,327 shares of the credit services provider’s stock after selling 2,709 shares during the quarter. Shell Asset Management Co.’s holdings in Navient were worth $312,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. North Star Asset Management Inc. acquired a new stake in shares of Navient during the 4th quarter worth about $19,108,000. Allianz Asset Management GmbH raised its position in shares of Navient by 27.7% during the 4th quarter. Allianz Asset Management GmbH now owns 2,150,314 shares of the credit services provider’s stock worth $45,630,000 after acquiring an additional 467,052 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Navient by 55.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,185,629 shares of the credit services provider’s stock worth $25,159,000 after acquiring an additional 425,200 shares in the last quarter. Gator Capital Management LLC acquired a new position in Navient during the fourth quarter worth approximately $7,191,000. Finally, Schonfeld Strategic Advisors LLC increased its position in Navient by 1,563.8% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 216,300 shares of the credit services provider’s stock worth $4,590,000 after buying an additional 203,300 shares during the period. Hedge funds and other institutional investors own 80.27% of the company’s stock.

Navient Stock Down 1.9 %

Navient stock opened at $15.82 on Friday. The company has a debt-to-equity ratio of 23.14, a current ratio of 15.69 and a quick ratio of 15.69. Navient Co. has a 1-year low of $12.45 and a 1-year high of $23.80. The company has a market cap of $2.24 billion, a PE ratio of 4.10 and a beta of 1.67. The stock’s 50 day moving average price is $14.90 and its 200 day moving average price is $16.28.

Navient (NASDAQ:NAVI – Get Rating) last posted its quarterly earnings results on Tuesday, July 26th. The credit services provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.09. Navient had a return on equity of 12.79% and a net margin of 18.11%. During the same period in the previous year, the firm earned $0.94 EPS. On average, sell-side analysts predict that Navient Co. will post 3.41 EPS for the current fiscal year.

Navient Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 17th. Investors of record on Friday, June 3rd were paid a $0.16 dividend. The ex-dividend date was Thursday, June 2nd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.05%. Navient’s dividend payout ratio (DPR) is currently 16.58%.

Analysts Set New Price Targets

Several research firms have commented on NAVI. Citigroup lifted their price target on Navient from $16.00 to $18.00 in a research report on Thursday, July 28th. Barclays cut their price target on Navient from $25.00 to $18.00 and set an “overweight” rating on the stock in a research report on Monday, July 11th. Keefe, Bruyette & Woods cut their price target on Navient from $18.00 to $17.00 in a research report on Monday, July 11th. JPMorgan Chase & Co. lowered Navient from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $21.00 to $17.00 in a research report on Monday, April 11th. Finally, Compass Point dropped their target price on Navient to $15.00 in a report on Monday, July 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $17.86.

About Navient

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Navient Corporation provides education loan management and business processing solutions for education, healthcare, and government clients at the federal, state, and local levels in the United States. It operates through three segments: Federal Education Loans, Consumer Lending, and Business Processing.

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Institutional Ownership by Quarter for Navient (NASDAQ:NAVI)



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