Swiss National Bank bought a new stake in Navient Corp (NASDAQ:NAVI) during the fourth quarter, HoldingsChannel reports. The fund bought 466,800 shares of the credit services provider’s stock, valued at approximately $6,218,000.
Other large investors have also recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in shares of Navient by 23.9% during the 2nd quarter. FMR LLC now owns 304,213 shares of the credit services provider’s stock worth $5,065,000 after acquiring an additional 58,639 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Navient by 225.3% during the 2nd quarter. Janus Henderson Group PLC now owns 57,639 shares of the credit services provider’s stock worth $960,000 after acquiring an additional 39,919 shares during the period. Shell Asset Management Co. lifted its holdings in shares of Navient by 278.0% during the 3rd quarter. Shell Asset Management Co. now owns 72,883 shares of the credit services provider’s stock worth $1,291,000 after acquiring an additional 53,603 shares during the period. Mutual of America Capital Management LLC lifted its holdings in shares of Navient by 12.8% during the 3rd quarter. Mutual of America Capital Management LLC now owns 38,362 shares of the credit services provider’s stock worth $576,000 after acquiring an additional 4,340 shares during the period. Finally, First Midwest Bank Trust Division purchased a new position in shares of Navient during the 3rd quarter worth about $175,000. Institutional investors own 89.50% of the company’s stock.
Shares of Navient Corp (NASDAQ NAVI) opened at $13.23 on Monday. The stock has a market cap of $3,479.65, a P/E ratio of 7.47, a P/E/G ratio of 1.15 and a beta of 2.30. Navient Corp has a 1 year low of $11.48 and a 1 year high of $16.97. The company has a current ratio of 22.41, a quick ratio of 33.10 and a debt-to-equity ratio of 30.13.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 16th. Investors of record on Friday, March 2nd will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 4.84%. The ex-dividend date is Thursday, March 1st. Navient’s dividend payout ratio (DPR) is presently 63.37%.
In related news, SVP Stephen M. Hauber sold 17,423 shares of the stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $14.40, for a total transaction of $250,891.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.68% of the stock is currently owned by corporate insiders.
Several research analysts have recently weighed in on NAVI shares. JPMorgan Chase & Co. lowered shares of Navient from a “neutral” rating to an “underweight” rating in a report on Friday, January 12th. Barclays reiterated an “overweight” rating and set a $17.00 price objective on shares of Navient in a report on Tuesday, November 14th. Oppenheimer started coverage on shares of Navient in a report on Monday, January 8th. They set a “hold” rating on the stock. Jefferies Group reiterated a “hold” rating and set a $14.00 price objective on shares of Navient in a report on Thursday, January 11th. Finally, Zacks Investment Research upgraded shares of Navient from a “sell” rating to a “buy” rating and set a $16.00 price objective on the stock in a report on Friday, January 12th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $17.45.
Navient Company Profile
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).
Want to see what other hedge funds are holding NAVI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Navient Corp (NASDAQ:NAVI).
Receive News & Ratings for Navient Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Navient and related companies with MarketBeat.com's FREE daily email newsletter.