Truist Financial Corp decreased its position in Navient Co. (NASDAQ:NAVI – Free Report) by 12.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,786 shares of the credit services provider’s stock after selling 4,201 shares during the period. Truist Financial Corp’s holdings in Navient were worth $536,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of the company. PNC Financial Services Group Inc. lifted its holdings in Navient by 13.1% during the third quarter. PNC Financial Services Group Inc. now owns 5,236 shares of the credit services provider’s stock worth $90,000 after acquiring an additional 607 shares during the period. CI Investments Inc. raised its stake in shares of Navient by 5,209.1% during the 3rd quarter. CI Investments Inc. now owns 9,291 shares of the credit services provider’s stock worth $160,000 after purchasing an additional 9,116 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Navient by 1,762.0% in the 4th quarter. International Assets Investment Management LLC now owns 9,310 shares of the credit services provider’s stock worth $173,000 after buying an additional 8,810 shares during the last quarter. Dimension Capital Management LLC purchased a new position in shares of Navient in the 3rd quarter worth about $195,000. Finally, Pathstone Family Office LLC grew its position in Navient by 9.8% during the third quarter. Pathstone Family Office LLC now owns 11,542 shares of the credit services provider’s stock valued at $199,000 after buying an additional 1,029 shares during the period. Institutional investors own 97.14% of the company’s stock.
Navient Trading Down 0.4 %
Shares of Navient stock opened at $15.54 on Friday. The company’s 50-day moving average price is $16.35 and its 200-day moving average price is $16.94. The company has a market cap of $1.74 billion, a price-to-earnings ratio of 9.96 and a beta of 1.39. Navient Co. has a 12-month low of $14.10 and a 12-month high of $19.69. The company has a current ratio of 12.52, a quick ratio of 12.52 and a debt-to-equity ratio of 18.38.
Navient (NASDAQ:NAVI – Get Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The credit services provider reported $0.63 EPS for the quarter, beating the consensus estimate of $0.58 by $0.05. The firm had revenue of $163.00 million during the quarter, compared to the consensus estimate of $188.04 million. Navient had a net margin of 3.93% and a return on equity of 12.09%. On average, equities analysts expect that Navient Co. will post 1.66 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several analysts have commented on the stock. Barclays lowered their price objective on shares of Navient from $13.00 to $11.00 and set an “underweight” rating on the stock in a research report on Thursday, April 25th. TD Cowen reduced their price objective on Navient from $14.00 to $13.00 and set a “sell” rating for the company in a report on Friday, April 26th. Keefe, Bruyette & Woods decreased their target price on Navient from $19.00 to $17.00 and set a “market perform” rating for the company in a research report on Thursday, April 25th. JPMorgan Chase & Co. dropped their price target on Navient from $17.00 to $16.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Finally, Citigroup lifted their price objective on Navient from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, February 1st. Three equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $16.10.
View Our Latest Report on NAVI
Insider Activity at Navient
In other Navient news, EVP Mark L. Heleen sold 10,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $16.00, for a total value of $160,000.00. Following the transaction, the executive vice president now directly owns 393,611 shares in the company, valued at approximately $6,297,776. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 27.99% of the stock is owned by corporate insiders.
Navient Company 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.
Read More
Want to see what other hedge funds are holding NAVI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Navient Co. (NASDAQ:NAVI – Free Report).
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.
Source: defenseworld.net