Navient Co. (NASDAQ:NAVI) Shares Sold by Shell Asset Management Co.

Shell Asset Management Co. reduced its holdings in Navient Co. (NASDAQ:NAVIGet Rating) by 12.9% in the 1st quarter, HoldingsChannel.com reports. The firm owned 18,327 shares of the credit services provider’s stock after selling 2,709 shares during the quarter. Shell Asset Management Co.’s holdings in Navient were worth $312,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Invesco Ltd. increased its stake in Navient by 8.6% in the fourth quarter. Invesco Ltd. now owns 2,240,894 shares of the credit services provider’s stock valued at $47,552,000 after purchasing an additional 177,465 shares during the last quarter. Allianz Asset Management GmbH increased its stake in Navient by 27.7% in the fourth quarter. Allianz Asset Management GmbH now owns 2,150,314 shares of the credit services provider’s stock valued at $45,630,000 after purchasing an additional 467,052 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Navient by 55.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,185,629 shares of the credit services provider’s stock valued at $25,159,000 after purchasing an additional 425,200 shares during the last quarter. North Star Asset Management Inc. increased its stake in Navient by 1.2% in the first quarter. North Star Asset Management Inc. now owns 910,967 shares of the credit services provider’s stock valued at $15,523,000 after purchasing an additional 10,462 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in Navient by 10.3% in the fourth quarter. First Trust Advisors LP now owns 653,239 shares of the credit services provider’s stock valued at $13,862,000 after purchasing an additional 61,050 shares during the last quarter. 80.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on NAVI shares. Compass Point dropped their target price on Navient to $15.00 in a research note on Monday, July 25th. Citigroup upped their price target on Navient from $16.00 to $18.00 in a research note on Thursday, July 28th. Barclays dropped their price target on Navient from $25.00 to $18.00 and set an “overweight” rating for the company in a research note on Monday, July 11th. JPMorgan Chase & Co. lowered Navient from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $21.00 to $17.00 in a research note on Monday, April 11th. Finally, Keefe, Bruyette & Woods dropped their price target on Navient from $18.00 to $17.00 in a research note on Monday, July 11th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $17.86.

Navient Price Performance

Shares of NASDAQ NAVI opened at $15.82 on Friday. Navient Co. has a 1-year low of $12.45 and a 1-year high of $23.80. The business has a 50-day moving average of $14.90 and a 200-day moving average of $16.28. The company has a debt-to-equity ratio of 23.14, a current ratio of 15.69 and a quick ratio of 15.69. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of 4.10 and a beta of 1.67.

Navient (NASDAQ:NAVIGet Rating) last issued its earnings results on Tuesday, July 26th. The credit services provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.09. Navient had a return on equity of 12.79% and a net margin of 18.11%. During the same period in the prior year, the business earned $0.94 earnings per share. On average, equities analysts anticipate that Navient Co. will post 3.41 EPS for the current fiscal year.

Navient Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 17th. Investors of record on Friday, June 3rd were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date of this dividend was Thursday, June 2nd. Navient’s dividend payout ratio is currently 16.58%.

Navient Company Profile

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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 through three segments: Federal Education Loans, Consumer Lending, and Business Processing.

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Institutional Ownership by Quarter for Navient (NASDAQ:NAVI)

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