Man Group plc trimmed its holdings in Navient Corp (NASDAQ:NAVI) by 34.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 947,130 shares of the credit services provider’s stock after selling 495,839 shares during the period. Man Group plc’s holdings in Navient were worth $12,123,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also made changes to their positions in the business. Advisors Preferred LLC acquired a new stake in shares of Navient during the second quarter worth about $25,000. Nvwm LLC bought a new position in shares of Navient during the 2nd quarter valued at about $49,000. HM Payson & Co. acquired a new position in shares of Navient in the 2nd quarter valued at approximately $64,000. Doyle Wealth Management acquired a new position in shares of Navient in the 2nd quarter valued at approximately $72,000. Finally, Coastal Investment Advisors Inc. bought a new stake in Navient during the 2nd quarter worth approximately $81,000. Institutional investors own 98.39% of the company’s stock.
Several analysts have commented on NAVI shares. Zacks Investment Research upgraded shares of Navient from a “hold” rating to a “strong-buy” rating and set a $14.00 target price on the stock in a report on Monday, October 28th. BMO Capital Markets upped their price target on shares of Navient from $17.00 to $18.00 and gave the company a “market perform” rating in a report on Thursday, October 24th. TheStreet downgraded shares of Navient from a “b-” rating to a “c+” rating in a research report on Monday, October 7th. ValuEngine downgraded shares of Navient from a “sell” rating to a “strong sell” rating in a research report on Friday, October 25th. Finally, BidaskClub upgraded shares of Navient from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Navient has a consensus rating of “Hold” and an average price target of $15.60.
Navient (NASDAQ:NAVI) last announced its earnings results on Tuesday, October 22nd. The credit services provider reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.05. The business had revenue of $312.00 million for the quarter, compared to analyst estimates of $295.33 million. Navient had a return on equity of 17.50% and a net margin of 8.80%. During the same quarter last year, the firm earned $0.53 EPS. Equities analysts expect that Navient Corp will post 2.52 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date is Thursday, December 5th. Navient’s dividend payout ratio (DPR) is currently 30.62%.
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 in three segments: Federal Education Loans, Consumer Lending, and Business Processing. The company holds and acquires Federal Family Education Loan Program loans that are insured or guaranteed by state or not-for-profit agencies; and performs servicing and asset recovery services on its own loan portfolio, and federal education loans owned by the United States Department of Education and other institutions.
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