Envestnet Asset Management Inc. Sells 58,703 Shares of Navient Co. (NASDAQ:NAVI)

Envestnet Asset Management Inc. lowered its position in shares of Navient Co. (NASDAQ:NAVI) by 46.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 68,852 shares of the credit services provider’s stock after selling 58,703 shares during the period. Envestnet Asset Management Inc.’s holdings in Navient were worth $1,331,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of NAVI. Oregon Public Employees Retirement Fund lifted its stake in shares of Navient by 1.3% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 62,522 shares of the credit services provider’s stock valued at $1,209,000 after acquiring an additional 775 shares during the last quarter. Essex Financial Services Inc. lifted its stake in shares of Navient by 6.1% in the 1st quarter. Essex Financial Services Inc. now owns 15,280 shares of the credit services provider’s stock valued at $219,000 after acquiring an additional 877 shares during the last quarter. Carolina Wealth Advisors LLC lifted its stake in shares of Navient by 18.5% in the 2nd quarter. Carolina Wealth Advisors LLC now owns 6,124 shares of the credit services provider’s stock valued at $118,000 after acquiring an additional 956 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Navient by 13.1% in the 1st quarter. Advisors Asset Management Inc. now owns 21,162 shares of the credit services provider’s stock valued at $303,000 after acquiring an additional 2,454 shares during the last quarter. Finally, Advisor Group Holdings Inc. lifted its stake in shares of Navient by 36.7% in the 2nd quarter. Advisor Group Holdings Inc. now owns 9,537 shares of the credit services provider’s stock valued at $185,000 after acquiring an additional 2,559 shares during the last quarter. 87.36% of the stock is owned by hedge funds and other institutional investors.

NAVI stock opened at $22.34 on Wednesday. Navient Co. has a fifty-two week low of $7.42 and a fifty-two week high of $23.80. The business’s 50 day moving average price is $21.75 and its two-hundred day moving average price is $18.39. The company has a debt-to-equity ratio of 27.96, a quick ratio of 19.43 and a current ratio of 19.43. The company has a market capitalization of $3.75 billion, a price-to-earnings ratio of 4.37 and a beta of 1.82.

Navient (NASDAQ:NAVI) last posted its earnings results on Monday, July 26th. The credit services provider reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.09. Navient had a return on equity of 32.60% and a net margin of 25.84%. The firm had revenue of $295.00 million for the quarter, compared to the consensus estimate of $268.06 million. During the same quarter in the prior year, the business earned $0.92 EPS. Sell-side analysts forecast that Navient Co. will post 4.27 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 17th. Shareholders of record on Friday, September 3rd were issued a dividend of $0.16 per share. The ex-dividend date was Thursday, September 2nd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.86%. Navient’s dividend payout ratio (DPR) is 19.75%.

A number of equities research analysts have recently weighed in on NAVI shares. Keefe, Bruyette & Woods lowered Navient from an “outperform” rating to a “market perform” rating and boosted their target price for the company from $19.00 to $20.00 in a research note on Tuesday, July 6th. Stephens boosted their target price on Navient from $18.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, July 29th. Citigroup lowered Navient from a “buy” rating to a “neutral” rating and boosted their target price for the company from $19.00 to $21.00 in a research note on Thursday, July 29th. Wedbush boosted their price target on Navient from $19.00 to $25.00 and gave the company an “outperform” rating in a report on Monday, August 2nd. Finally, Barclays boosted their price target on Navient from $20.00 to $23.00 and gave the company an “overweight” rating in a report on Friday, July 9th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Navient has an average rating of “Hold” and a consensus price target of $20.72.

About Navient

Navient Corp. engages in the provision of asset management and business processing solutions for education, healthcare and government clients at the federal, state and local levels. It operates through the following segments: Federal Education Loans, Consumer Lending, Business Processing and Other. The Federal Education Loans segment owns FFELP Loans and performs servicing and asset recovery services on FFELP Loan portfolio.

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Institutional Ownership by Quarter for Navient (NASDAQ:NAVI)

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