Navient Co. (NASDAQ:NAVI) Stock Purchased by the Teacher Retirement System of Texas
Teacher Retirement System of Texas raised its stake in Navient Co. (NASDAQ: NAVI – Get a rating) by 2.6% in Q1, according to the company in its most recent Form 13F filing with the SEC. The fund held 33,370 shares of the credit service provider after buying an additional 856 shares during the quarter. The Teacher Retirement System of Texas holdings in Navient were worth $569,000 at the end of the last reporting period.
Several other hedge funds and other institutional investors have also recently changed their positions in the stock. Qube Research & Technologies Ltd increased its position in Navient by 380.2% in the first quarter. Qube Research & Technologies Ltd now owns 86,174 shares of the credit services provider worth $1,468,000 after acquiring an additional 68,227 shares during the period. The New York State Common Retirement Fund increased its position in Navient by 22.6% in the first quarter. The New York State Common Retirement Fund now owns 142,812 shares of the credit service provider worth $2,434,000 after acquiring an additional 26,342 shares during the period. Russell Investments Group Ltd. increased its position in Navient by 696.8% in the first quarter. Russell Investments Group Ltd. now owns 312,434 shares of the credit service provider worth $5,322,000 after acquiring an additional 273,222 shares during the period. Advisor Group Holdings Inc. increased its position in Navient by 108.7% in the first quarter. Advisor Group Holdings Inc. now owns 32,330 shares of the credit service provider worth $532,000 after acquiring an additional 16,836 shares during the period. Finally, Prospera Financial Services Inc bought a new position in Navient in the first quarter worth approximately $137,000. Institutional investors and hedge funds hold 80.27% of the company’s shares.
Navient Trading down 2.2%
NASDAQ: NAVI opened at $16.38 on Tuesday. The company has a market capitalization of $2.32 billion, a PE ratio of 4.24 and a beta of 1.67. The stock has a fifty-day moving average price of $15.23 and a 200-day moving average price of $16.16. Navient Co. has a 12-month low of $12.45 and a 12-month high of $23.80. The company has a current ratio of 15.69, a quick ratio of 15.69 and a debt ratio of 23.14.
navigate (NASDAQ: NAVI – Get a rating) last released its results on Tuesday, July 26. The credit services provider reported earnings per share (EPS) of $0.92 for the quarter, beating consensus analyst estimates of $0.79 by $0.13. Navient had a return on equity of 12.79% and a net margin of 18.11%. The company posted revenue of $271.00 million in the quarter, versus analyst estimates of $264.50 million. During the same period last year, the company posted earnings per share of $0.94. Sell-side analysts expect Navient Co. to post earnings per share of 3.4 for the current fiscal year.
Navient Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, September 16. Shareholders of record on Friday, September 2 will receive a dividend of $0.16. This represents a dividend of $0.64 on an annualized basis and a yield of 3.91%. The ex-dividend date is Thursday, September 1. Navient’s dividend payout ratio is currently 16.58%.
Wall Street analysts predict growth
Several brokerages have recently weighed in on NAVI. Barclays lowered its price target on Navient from $25.00 to $18.00 and set an “overweight” rating for the company in a Monday July 11 research report. Keefe, Bruyette & Woods lowered their price target on Navient from $18.00 to $17.00 in a Monday, July 11 research report. Compass Point lowered its price target on Navient to $15.00 in a Monday, July 25 research report. Finally, Citigroup raised its price target on Navient from $16.00 to $18.00 in a Thursday, July 28 research report. One analyst rated the stock with a sell rating, six issued a hold rating and two assigned the stock a buy rating. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $17.86.
Navient Corporation provides student loan management and business processing solutions for education, healthcare and government customers at the federal, state and local levels in the United States. It operates through three segments: Federal Education Loans, Consumer Loans and Business Processing.
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