Bessemer Group Inc. Reduces Position in Navient Corporation (NAVI)

Bessemer Group Inc. cut its position in shares of Navient Corporation (NASDAQ:NAVI) by 2.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 134,327 shares of the credit services provider’s stock after selling 3,011 shares during the period. Bessemer Group Inc.’s holdings in Navient Corporation were worth $2,237,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Thrivent Financial for Lutherans raised its stake in shares of Navient Corporation by 0.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 10,420 shares of the credit services provider’s stock worth $171,000 after buying an additional 90 shares during the last quarter. Kentucky Retirement Systems purchased a new stake in shares of Navient Corporation during the fourth quarter worth about $361,000. Macquarie Group Ltd. raised its stake in shares of Navient Corporation by 141.9% in the fourth quarter. Macquarie Group Ltd. now owns 25,400 shares of the credit services provider’s stock worth $417,000 after buying an additional 14,900 shares during the last quarter. Gulf International Bank UK Ltd raised its stake in shares of Navient Corporation by 1.1% in the first quarter. Gulf International Bank UK Ltd now owns 95,411 shares of the credit services provider’s stock worth $1,408,000 after buying an additional 1,000 shares during the last quarter. Finally, Visionary Asset Management Inc. raised its stake in shares of Navient Corporation by 3.2% in the first quarter. Visionary Asset Management Inc. now owns 230,571 shares of the credit services provider’s stock worth $3,403,000 after buying an additional 7,149 shares during the last quarter. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Shares of Navient Corporation (NASDAQ:NAVI) opened at 14.15 on Thursday. The stock has a market cap of $3.88 billion, a price-to-earnings ratio of 7.34 and a beta of 2.43. The stock’s 50 day moving average price is $15.60 and its 200 day moving average price is $15.13. Navient Corporation has a one year low of $12.66 and a one year high of $17.95.

Navient Corporation (NASDAQ:NAVI) last announced its earnings results on Tuesday, July 18th. The credit services provider reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. Navient Corporation had a net margin of 11.50% and a return on equity of 14.05%. The business had revenue of $343 million during the quarter, compared to analysts’ expectations of $331.67 million. During the same period in the prior year, the company earned $0.47 earnings per share. The business’s revenue was down 15.9% compared to the same quarter last year. Analysts forecast that Navient Corporation will post $1.76 earnings per share for the current year.

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A number of analysts recently issued reports on NAVI shares. Barclays PLC set a $20.00 price target on Navient Corporation and gave the company a “buy” rating in a report on Wednesday, April 12th. Wedbush restated a “neutral” rating and set a $16.50 target price on shares of Navient Corporation in a report on Tuesday, April 18th. BidaskClub upgraded Navient Corporation from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Jefferies Group LLC restated a “buy” rating on shares of Navient Corporation in a report on Monday, June 12th. Finally, Stifel Nicolaus upped their target price on Navient Corporation from $24.00 to $26.00 and gave the stock a “hold” rating in a report on Monday, June 12th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $18.55.

About Navient Corporation

Navient Corporation provides asset management and business processing services to education, healthcare and government clients at the federal, state and local levels. The Company holds the portfolio of education loans insured or federally guaranteed under the Federal Family Education Loan Program (FFELP).

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Institutional Ownership by Quarter for Navient Corporation (NASDAQ:NAVI)

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