Man Group plc Has $12.12 Million Position in Navient Corp (NASDAQ:NAVI)

Man Group plc lowered its holdings in Navient Corp (NASDAQ:NAVI) by 34.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 947,130 shares of the credit services provider’s stock after selling 495,839 shares during the quarter. Man Group plc owned 0.43% of Navient worth $12,123,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Advisors Preferred LLC acquired a new stake in Navient during the second quarter valued at approximately $25,000. Nvwm LLC bought a new position in shares of Navient during the 2nd quarter worth approximately $49,000. HM Payson & Co. bought a new position in shares of Navient during the 2nd quarter worth approximately $64,000. Doyle Wealth Management bought a new position in shares of Navient during the 2nd quarter worth approximately $72,000. Finally, Coastal Investment Advisors Inc. acquired a new stake in Navient in the 2nd quarter valued at $81,000. 98.39% of the stock is currently owned by institutional investors and hedge funds.

Shares of NAVI opened at $13.90 on Wednesday. The company has a market capitalization of $3.17 billion, a P/E ratio of 6.65, a PEG ratio of 0.23 and a beta of 2.14. The company has a debt-to-equity ratio of 26.07, a current ratio of 13.16 and a quick ratio of 13.16. Navient Corp has a one year low of $8.23 and a one year high of $15.67. The business’s 50 day simple moving average is $13.71 and its 200-day simple moving average is $13.31.

Navient (NASDAQ:NAVI) last released its quarterly earnings results on Tuesday, October 22nd. The credit services provider reported $0.62 EPS for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.05. Navient had a return on equity of 17.50% and a net margin of 8.80%. The business had revenue of $312.00 million for the quarter, compared to analyst estimates of $295.33 million. During the same period in the prior year, the company earned $0.53 EPS. On average, sell-side analysts anticipate that Navient Corp will post 2.52 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date of this dividend is Thursday, December 5th. Navient’s dividend payout ratio is currently 30.62%.

A number of analysts have weighed in on NAVI shares. TheStreet cut Navient from a “b-” rating to a “c+” rating in a research report on Monday, October 7th. ValuEngine downgraded shares of Navient from a “sell” rating to a “strong sell” rating in a research note on Friday, October 25th. BMO Capital Markets upped their target price on shares of Navient from $17.00 to $18.00 and gave the stock a “market perform” rating in a report on Thursday, October 24th. Zacks Investment Research upgraded shares of Navient from a “hold” rating to a “strong-buy” rating and set a $14.00 target price for the company in a research report on Monday, October 28th. Finally, BidaskClub raised shares of Navient from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $15.60.

About Navient

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 in three segments: Federal Education Loans, Consumer Lending, and Business Processing. The company holds and acquires Federal Family Education Loan Program 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, and federal education loans owned by the United States Department of Education and other institutions.

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Institutional Ownership by Quarter for Navient (NASDAQ:NAVI)

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