Truist Financial Corp Lowers Stock Position in Navient Co. (NASDAQ:NAVI)

Truist Financial Corp lessened its holdings in Navient Co. (NASDAQ:NAVIGet Rating) by 2.7% during the third quarter, Holdings Channel.com reports. The firm owned 31,436 shares of the credit services provider’s stock after selling 872 shares during the quarter. Truist Financial Corp’s holdings in Navient were worth $461,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Navient during the 1st quarter valued at approximately $236,000. AlphaCrest Capital Management LLC acquired a new stake in shares of Navient during the 1st quarter valued at approximately $382,000. MetLife Investment Management LLC lifted its position in shares of Navient by 36.6% during the 1st quarter. MetLife Investment Management LLC now owns 180,855 shares of the credit services provider’s stock valued at $3,082,000 after acquiring an additional 48,483 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Navient by 5.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 56,439 shares of the credit services provider’s stock valued at $962,000 after acquiring an additional 3,003 shares during the period. Finally, Allianz Asset Management GmbH raised its position in shares of Navient by 22.9% during the 1st quarter. Allianz Asset Management GmbH now owns 2,641,958 shares of the credit services provider’s stock worth $45,019,000 after purchasing an additional 491,644 shares during the last quarter. Hedge funds and other institutional investors own 70.48% of the company’s stock.

Wall Street Analyst Weigh In

NAVI has been the subject of several recent analyst reports. Jefferies Financial Group lowered their target price on shares of Navient from $24.00 to $18.00 in a research note on Tuesday, October 18th. Morgan Stanley raised shares of Navient from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $14.00 to $16.00 in a research note on Thursday, December 1st. Credit Suisse Group lowered their price objective on shares of Navient to $14.00 in a research note on Thursday, October 27th. Barclays boosted their price objective on shares of Navient from $16.00 to $19.00 in a research note on Friday, January 6th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Navient from $14.50 to $17.00 in a research note on Tuesday, January 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $16.06.

Navient Stock Up 1.0 %

Shares of Navient stock opened at $17.69 on Tuesday. The company has a fifty day moving average price of $16.66 and a 200 day moving average price of $15.76. The company has a current ratio of 12.32, a quick ratio of 12.32 and a debt-to-equity ratio of 21.53. Navient Co. has a twelve month low of $12.45 and a twelve month high of $19.39. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of 4.96 and a beta of 1.52.

Navient (NASDAQ:NAVIGet Rating) last issued its quarterly earnings data on Tuesday, October 25th. The credit services provider reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.02). Navient had a return on equity of 10.97% and a net margin of 15.08%. The firm had revenue of $247.00 million during the quarter, compared to analyst estimates of $279.19 million. Equities research analysts forecast that Navient Co. will post 3.39 earnings per share for the current fiscal year.

Navient Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 16th. Shareholders of record on Friday, December 2nd were issued a $0.16 dividend. The ex-dividend date was Thursday, December 1st. This represents a $0.64 dividend on an annualized basis and a yield of 3.62%. Navient’s dividend payout ratio is currently 17.93%.

Insiders Place Their Bets

In other Navient news, EVP John M. Kane sold 17,006 shares of the business’s stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $16.56, for a total value of $281,619.36. Following the transaction, the executive vice president now owns 607,303 shares in the company, valued at approximately $10,056,937.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 22.10% of the stock is currently owned by company insiders.

Navient 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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