BB&T Securities LLC increased its holdings in Navient Corporation (NASDAQ:NAVI) by 25.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 117,196 shares of the credit services provider’s stock after acquiring an additional 24,130 shares during the quarter. BB&T Securities LLC’s holdings in Navient were worth $1,760,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also made changes to their positions in NAVI. Creative Planning lifted its stake in Navient by 7.2% in the second quarter. Creative Planning now owns 7,066 shares of the credit services provider’s stock worth $118,000 after acquiring an additional 472 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of Navient by 9.9% during the second quarter. Russell Investments Group Ltd. now owns 154,716 shares of the credit services provider’s stock valued at $2,577,000 after acquiring an additional 13,995 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its holdings in shares of Navient by 176.0% during the second quarter. Municipal Employees Retirement System of Michigan now owns 27,600 shares of the credit services provider’s stock valued at $460,000 after acquiring an additional 17,600 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Navient during the second quarter valued at $232,000. Finally, Canada Pension Plan Investment Board increased its holdings in shares of Navient by 85.1% during the second quarter. Canada Pension Plan Investment Board now owns 109,200 shares of the credit services provider’s stock valued at $1,818,000 after acquiring an additional 50,200 shares in the last quarter. 92.91% of the stock is owned by institutional investors.
Several equities analysts have recently weighed in on NAVI shares. Compass Point upgraded Navient from a “neutral” rating to a “buy” rating and set a $16.50 price target for the company in a report on Tuesday, September 5th. Credit Suisse Group upgraded Navient from a “neutral” rating to an “outperform” rating and set a $16.50 price target for the company in a report on Friday, September 8th. Zacks Investment Research upgraded Navient from a “sell” rating to a “hold” rating in a report on Wednesday, September 13th. Citigroup started coverage on Navient in a report on Monday, October 16th. They set a “buy” rating and a $20.00 price target for the company. Finally, Jefferies Group restated a “hold” rating and set a $16.00 price target on shares of Navient in a report on Monday, October 16th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $18.00.
Shares of Navient Corporation (NAVI) opened at $13.13 on Wednesday. Navient Corporation has a twelve month low of $11.48 and a twelve month high of $17.48. The company has a market capitalization of $3,490.17, a PE ratio of 7.50 and a beta of 2.37. The company has a debt-to-equity ratio of 30.58, a current ratio of 33.10 and a quick ratio of 33.10.
Navient (NASDAQ:NAVI) last released its quarterly earnings data on Tuesday, October 17th. The credit services provider reported $0.55 EPS for the quarter, topping the consensus estimate of $0.50 by $0.05. Navient had a return on equity of 14.09% and a net margin of 10.88%. The company had revenue of $343.00 million during the quarter, compared to the consensus estimate of $361.33 million. During the same period last year, the company earned $0.50 EPS. Navient’s revenue for the quarter was down 15.3% on a year-over-year basis. analysts predict that Navient Corporation will post 1.76 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a $0.16 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.64 annualized dividend and a yield of 4.87%. Navient’s payout ratio is 35.36%.
Navient declared that its Board of Directors has initiated a stock repurchase program on Wednesday, October 4th that permits the company to repurchase outstanding shares. This repurchase authorization permits the credit services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
In other Navient news, CFO Christian M. Lown acquired 6,000 shares of Navient stock in a transaction that occurred on Friday, October 20th. The stock was bought at an average cost of $12.35 per share, for a total transaction of $74,100.00. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP John M. Kane sold 28,886 shares of Navient stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $15.00, for a total value of $433,290.00. The disclosure for this sale can be found here. 1.68% of the stock is currently owned by company insiders.
Navient Corporation provides asset management and business processing services to education, healthcare and government clients at the federal, state and local levels. The Company holds the portfolio of education loans insured or federally guaranteed under the Federal Family Education Loan Program (FFELP).
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