Navient Co. (NASDAQ:NAVI) Stock Position Boosted by Empowered Funds LLC

Empowered Funds LLC grew its stake in shares of Navient Co. (NASDAQ:NAVI) by 5.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 444,467 shares of the credit services provider’s stock after buying an additional 22,646 shares during the quarter. Empowered Funds LLC owned about 0.41% of Navient worth $6,929,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Donald Smith & CO. Inc. raised its holdings in Navient by 27.8% during the third quarter. Donald Smith & CO. Inc. now owns 3,581,311 shares of the credit services provider’s stock worth $55,833,000 after purchasing an additional 779,973 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new stake in shares of Navient in the first quarter valued at $4,813,000. Squarepoint Ops LLC bought a new position in Navient during the second quarter valued at about $3,345,000. American Century Companies Inc. grew its holdings in Navient by 12.1% during the second quarter. American Century Companies Inc. now owns 1,582,928 shares of the credit services provider’s stock worth $23,047,000 after acquiring an additional 171,160 shares during the period. Finally, Marshall Wace LLP bought a new stake in Navient in the second quarter worth about $2,327,000. 97.14% of the stock is owned by institutional investors and hedge funds.

Navient Stock Down 0.3 %

NASDAQ:NAVI opened at $15.14 on Friday. Navient Co. has a 1-year low of $13.71 and a 1-year high of $19.68. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of 21.94 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. The business’s fifty day moving average price is $15.34 and its 200 day moving average price is $15.22.

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

Navient Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date is Friday, December 6th. Navient’s dividend payout ratio (DPR) is presently 92.75%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Navient from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, October 7th. Keefe, Bruyette & Woods lifted their price target on shares of Navient from $15.00 to $16.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. Barclays increased their price objective on Navient from $10.00 to $11.00 and gave the company an “underweight” rating in a research report on Tuesday, October 8th. TD Cowen decreased their target price on Navient from $14.00 to $13.00 and set a “sell” rating on the stock in a report on Friday, November 1st. Finally, Bank of America began coverage on Navient in a report on Monday, September 30th. They set a “neutral” rating and a $17.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $15.75.

Insider Buying and Selling

In related news, EVP Stephen M. Hauber sold 10,000 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $3,853,245. This represents a 3.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 27.99% of the stock is owned by corporate insiders.

Navient Profile

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.