Navient Co. (NASDAQ:NAVI) Stock Holdings Lessened by ClearAlpha Technologies LP

ClearAlpha Technologies LP cut its holdings in Navient Co. (NASDAQ:NAVI) by 23.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 50,273 shares of the credit services provider’s stock after selling 15,214 shares during the period. ClearAlpha Technologies LP’s holdings in Navient were worth $784,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its stake in Navient by 3.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 76,850 shares of the credit services provider’s stock valued at $1,338,000 after acquiring an additional 2,410 shares during the period. Comerica Bank grew its stake in Navient by 16.5% during the 1st quarter. Comerica Bank now owns 47,491 shares of the credit services provider’s stock worth $826,000 after buying an additional 6,720 shares during the last quarter. IAG Wealth Partners LLC acquired a new stake in Navient in the second quarter worth $50,000. Assenagon Asset Management S.A. bought a new stake in Navient in the second quarter valued at $696,000. Finally, Nisa Investment Advisors LLC lifted its stake in Navient by 83.8% in the second quarter. Nisa Investment Advisors LLC now owns 13,107 shares of the credit services provider’s stock valued at $191,000 after buying an additional 5,977 shares during the last quarter. Institutional investors own 97.14% of the company’s stock.

Insider Transactions at Navient

In related news, EVP Stephen M. Hauber sold 10,000 shares of Navient stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $15.00, for a total value of $150,000.00. Following the transaction, the executive vice president now owns 256,883 shares of the company’s stock, valued at approximately $3,853,245. This trade represents a 3.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 27.99% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on NAVI shares. Barclays increased their price objective on shares of Navient from $10.00 to $11.00 and gave the stock an “underweight” rating in a report on Tuesday, October 8th. StockNews.com upgraded shares of Navient from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. TD Cowen reduced their price objective on Navient from $14.00 to $13.00 and set a “sell” rating for the company in a research report on Friday, November 1st. Bank of America initiated coverage on Navient in a research report on Monday, September 30th. They issued a “neutral” rating and a $17.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their price target on Navient from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Monday, October 7th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Navient presently has a consensus rating of “Hold” and a consensus price target of $15.75.

Navient Stock Performance

NASDAQ:NAVI opened at $15.58 on Monday. The company has a 50-day moving average of $15.26 and a 200-day moving average of $15.19. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of 22.58 and a beta of 1.39. The company has a current ratio of 9.49, a quick ratio of 9.49 and a debt-to-equity ratio of 16.59. Navient Co. has a twelve month low of $13.71 and a twelve month high of $19.68.

Navient (NASDAQ:NAVI) last issued its earnings results on Wednesday, October 30th. The credit services provider reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $1.20. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $150.04 million. Navient had a net margin of 1.71% and a return on equity of 8.62%. During the same period last year, the firm posted $0.84 earnings per share. Analysts forecast that Navient Co. will post 2.47 earnings per share for the current fiscal year.

Navient Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date of this dividend is Friday, December 6th. Navient’s payout ratio is 92.75%.

About Navient

Navient Corporation provides technology-enabled education finance and business processing solutions for education, health care, and government clients in the United States. It operates through three segments: Federal Education Loans, Consumer Lending, and Business Processing. The company owns Federal Family Education Loan Program (FFELP) loans that are insured or guaranteed by state or not-for-profit agencies; and performs servicing on its portfolios, as well as federal education loans held by other institutions.