Swiss National Bank trimmed its holdings in shares of Navient Co. (NASDAQ:NAVI) by 3.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 410,600 shares of the credit services provider’s stock after selling 15,000 shares during the period. Swiss National Bank owned approximately 0.24% of Navient worth $7,937,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of the business. American Century Companies Inc. boosted its holdings in shares of Navient by 27.2% during the 2nd quarter. American Century Companies Inc. now owns 481,194 shares of the credit services provider’s stock worth $9,301,000 after buying an additional 102,872 shares in the last quarter. Sawgrass Asset Management LLC bought a new position in shares of Navient in the 2nd quarter worth $263,000. US Bancorp DE lifted its holdings in shares of Navient by 19.5% in the 2nd quarter. US Bancorp DE now owns 11,248 shares of the credit services provider’s stock worth $217,000 after purchasing an additional 1,839 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of Navient by 16.8% in the 2nd quarter. Teacher Retirement System of Texas now owns 25,360 shares of the credit services provider’s stock worth $490,000 after purchasing an additional 3,649 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its holdings in shares of Navient by 8.0% in the 2nd quarter. Handelsbanken Fonder AB now owns 40,600 shares of the credit services provider’s stock worth $785,000 after purchasing an additional 3,000 shares in the last quarter. Hedge funds and other institutional investors own 87.36% of the company’s stock.
A number of brokerages recently issued reports on NAVI. Credit Suisse Group increased their target price on Navient from $15.50 to $17.50 and gave the stock a “neutral” rating in a report on Friday, July 2nd. Jefferies Financial Group raised their price objective on Navient from $19.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, June 10th. Zacks Investment Research cut Navient from a “strong-buy” rating to a “hold” rating and set a $20.00 price objective on the stock. in a research note on Tuesday, June 29th. Keefe, Bruyette & Woods cut Navient from an “outperform” rating to a “market perform” rating and raised their price objective for the company from $19.00 to $20.00 in a research note on Tuesday, July 6th. Finally, Barclays raised their price objective on Navient from $20.00 to $23.00 and gave the company an “overweight” rating in a research note on Friday, July 9th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $20.72.
Navient (NASDAQ:NAVI) last announced its earnings results on Monday, July 26th. The credit services provider reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.09. Navient had a return on equity of 32.60% and a net margin of 25.84%. The firm had revenue of $295.00 million during the quarter, compared to analyst estimates of $268.06 million. During the same period last year, the firm posted $0.92 EPS. As a group, equities analysts anticipate that Navient Co. will post 4.27 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 17th. Investors of record on Friday, September 3rd will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.78%. The ex-dividend date is Thursday, September 2nd. Navient’s dividend payout ratio (DPR) is currently 19.75%.
Navient Company Profile
Navient Corp. engages in the provision of asset management and business processing solutions for education, healthcare and government clients at the federal, state and local levels. It operates through the following segments: Federal Education Loans, Consumer Lending, Business Processing and Other. The Federal Education Loans segment owns FFELP Loans and performs servicing and asset recovery services on FFELP Loan portfolio.
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