World Asset Management Inc cut its holdings in Navient Corp (NASDAQ:NAVI) by 6.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,790 shares of the credit services provider’s stock after selling 1,134 shares during the quarter. World Asset Management Inc’s holdings in Navient were worth $157,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Strs Ohio increased its holdings in shares of Navient by 54.5% during the fourth quarter. Strs Ohio now owns 37,266 shares of the credit services provider’s stock valued at $328,000 after acquiring an additional 13,138 shares in the last quarter. James Investment Research Inc. purchased a new position in shares of Navient during the fourth quarter valued at approximately $1,030,000. Cerebellum GP LLC boosted its position in shares of Navient by 119.6% during the fourth quarter. Cerebellum GP LLC now owns 29,461 shares of the credit services provider’s stock valued at $260,000 after buying an additional 16,047 shares during the last quarter. Federated Investors Inc. PA boosted its position in shares of Navient by 65.5% during the third quarter. Federated Investors Inc. PA now owns 911,360 shares of the credit services provider’s stock valued at $12,285,000 after buying an additional 360,687 shares during the last quarter. Finally, Rehmann Capital Advisory Group boosted its position in shares of Navient by 1,306.4% during the third quarter. Rehmann Capital Advisory Group now owns 19,042 shares of the credit services provider’s stock valued at $1,412,000 after buying an additional 17,688 shares during the last quarter. 92.75% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ NAVI opened at $11.25 on Friday. Navient Corp has a one year low of $8.23 and a one year high of $15.02. The company has a debt-to-equity ratio of 26.37, a quick ratio of 19.74 and a current ratio of 17.67. The firm has a market cap of $2.95 billion, a PE ratio of 5.38 and a beta of 2.30.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Friday, March 1st will be given a dividend of $0.16 per share. The ex-dividend date is Thursday, February 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 5.69%. Navient’s dividend payout ratio is presently 30.62%.
NAVI has been the topic of several research analyst reports. Zacks Investment Research cut Navient from a “hold” rating to a “sell” rating in a research report on Tuesday, January 29th. BidaskClub cut Navient from a “buy” rating to a “hold” rating in a research report on Thursday. Oppenheimer reissued a “hold” rating on shares of Navient in a research report on Thursday, October 25th. Barclays set a $14.00 price objective on Navient and gave the stock a “buy” rating in a research report on Friday, December 14th. Finally, ValuEngine raised Navient from a “strong sell” rating to a “sell” rating in a research report on Tuesday, November 27th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $14.79.
Navient Corporation provides asset management and business processing services to education, health care, and government clients at the federal, state, and local levels in the United States. The company operates in three segments: Federal Family Education Loan Program (FFELP) Loans, Private Education Loans, and Business Services.
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