Edgestream Partners L.P. Has $1.51 Million Position in Navient Co. (NASDAQ:NAVI)

Edgestream Partners L.P. lessened its position in Navient Co. (NASDAQ:NAVI) by 71.8% in the third quarter, HoldingsChannel.com reports. The fund owned 96,564 shares of the credit services provider’s stock after selling 246,456 shares during the period. Edgestream Partners L.P.’s holdings in Navient were worth $1,505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. IAG Wealth Partners LLC bought a new position in Navient during the second quarter worth about $50,000. KBC Group NV increased its holdings in shares of Navient by 47.0% during the 3rd quarter. KBC Group NV now owns 4,355 shares of the credit services provider’s stock worth $68,000 after acquiring an additional 1,392 shares during the last quarter. Signaturefd LLC raised its stake in Navient by 22.1% in the 2nd quarter. Signaturefd LLC now owns 4,797 shares of the credit services provider’s stock valued at $70,000 after acquiring an additional 869 shares during the period. nVerses Capital LLC acquired a new stake in Navient during the 3rd quarter valued at $87,000. Finally, Harbor Capital Advisors Inc. bought a new position in Navient during the third quarter worth $95,000. 97.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Navient Price Performance

NAVI stock opened at $15.08 on Wednesday. The company’s 50-day moving average price is $15.25 and its two-hundred day moving average price is $15.19. The firm has a market cap of $1.62 billion, a P/E ratio of 21.86 and a beta of 1.40. The company has a quick ratio of 9.49, a current ratio of 9.49 and a debt-to-equity ratio of 16.59. Navient Co. has a 12 month low of $13.71 and a 12 month high of $19.68.

Navient (NASDAQ:NAVI) last announced its quarterly earnings data on Wednesday, October 30th. The credit services provider reported $1.45 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $150.04 million. During the same period last year, the firm posted $0.84 earnings per share. On average, analysts anticipate that Navient Co. will post 2.47 earnings per share for the current fiscal year.

Navient Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.16 per share. The ex-dividend date is Friday, December 6th. This represents a $0.64 annualized dividend and a dividend yield of 4.24%. Navient’s dividend payout ratio is currently 92.75%.

Insider Activity at Navient

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