Dynamic Technology Lab Private Ltd bought a new stake in shares of Navient Corporation (NASDAQ:NAVI) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 22,737 shares of the credit services provider’s stock, valued at approximately $342,000.
Other large investors have also recently added to or reduced their stakes in the company. Creative Planning grew its position in shares of Navient by 7.2% during the 2nd quarter. Creative Planning now owns 7,066 shares of the credit services provider’s stock worth $118,000 after buying an additional 472 shares during the period. Ffcm LLC grew its position in shares of Navient by 144.5% during the 2nd quarter. Ffcm LLC now owns 7,071 shares of the credit services provider’s stock worth $119,000 after buying an additional 4,179 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Navient during the 3rd quarter worth approximately $121,000. Bronfman E.L. Rothschild L.P. grew its position in shares of Navient by 8.8% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 7,564 shares of the credit services provider’s stock worth $126,000 after buying an additional 612 shares during the period. Finally, Advisors Asset Management Inc. grew its position in shares of Navient by 84.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 10,168 shares of the credit services provider’s stock worth $153,000 after buying an additional 4,642 shares during the period. 92.89% of the stock is owned by institutional investors and hedge funds.
In other Navient news, CFO Christian M. Lown purchased 6,000 shares of Navient stock in a transaction that occurred on Friday, October 20th. The stock was acquired at an average price of $12.35 per share, with a total value of $74,100.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP John M. Kane sold 28,886 shares of Navient stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $15.00, for a total transaction of $433,290.00. The disclosure for this sale can be found here. Company insiders own 1.68% of the company’s stock.
Navient (NASDAQ:NAVI) last posted its quarterly earnings results on Tuesday, October 17th. The credit services provider reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.05. Navient had a net margin of 10.88% and a return on equity of 14.09%. The business had revenue of $343.00 million during the quarter, compared to the consensus estimate of $361.33 million. During the same quarter last year, the firm posted $0.50 EPS. Navient’s revenue was down 15.3% compared to the same quarter last year. equities analysts forecast that Navient Corporation will post 1.76 earnings per share for the current year.
Navient announced that its board has initiated a stock repurchase plan on Wednesday, October 4th that allows the company to repurchase shares. This repurchase authorization allows the credit services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 4.92%. The ex-dividend date of this dividend is Thursday, November 30th. Navient’s payout ratio is currently 35.36%.
Several analysts have recently commented on NAVI shares. Credit Suisse Group reduced their price objective on shares of Navient from $16.50 to $16.00 and set an “outperform” rating for the company in a research report on Wednesday, October 4th. Zacks Investment Research raised shares of Navient from a “strong sell” rating to a “hold” rating in a research report on Monday, October 23rd. Compass Point downgraded shares of Navient from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $16.50 to $15.50 in a research report on Thursday, October 5th. Barclays reaffirmed an “overweight” rating and set a $17.00 price objective on shares of Navient in a research report on Tuesday, November 14th. Finally, BMO Capital Markets reduced their price objective on shares of Navient from $16.00 to $14.00 and set a “market perform” rating for the company in a research report on Thursday, October 19th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $18.00.
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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