State Treasurer State of Michigan reduced its stake in shares of Navient Corp (NASDAQ:NAVI) by 7.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 77,133 shares of the credit services provider’s stock after selling 6,000 shares during the quarter. State Treasurer State of Michigan’s holdings in Navient were worth $1,027,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of NAVI. Quantbot Technologies LP acquired a new position in Navient during the 3rd quarter worth $121,000. Advisors Asset Management Inc. boosted its position in Navient by 84.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 10,168 shares of the credit services provider’s stock worth $153,000 after acquiring an additional 4,642 shares during the period. First Midwest Bank Trust Division acquired a new position in Navient during the 3rd quarter worth $175,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new position in Navient during the 4th quarter worth $177,000. Finally, Thrivent Financial For Lutherans boosted its position in Navient by 1.0% during the 2nd quarter. Thrivent Financial For Lutherans now owns 10,770 shares of the credit services provider’s stock worth $179,000 after acquiring an additional 110 shares during the period. Hedge funds and other institutional investors own 89.75% of the company’s stock.
In other news, SVP Stephen M. Hauber sold 17,423 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $14.40, for a total transaction of $250,891.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.68% of the company’s stock.
Shares of Navient Corp (NASDAQ:NAVI) opened at $13.99 on Friday. The company has a quick ratio of 33.10, a current ratio of 22.41 and a debt-to-equity ratio of 30.13. The firm has a market capitalization of $3,679.54, a price-to-earnings ratio of 7.90, a PEG ratio of 1.22 and a beta of 2.30. Navient Corp has a twelve month low of $11.48 and a twelve month high of $16.97.
Navient (NASDAQ:NAVI) last announced its quarterly earnings data on Tuesday, January 23rd. The credit services provider reported $0.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.01. The business had revenue of $366.00 million during the quarter, compared to analyst estimates of $362.33 million. Navient had a return on equity of 13.90% and a net margin of 5.94%. During the same quarter in the prior year, the firm posted $0.43 earnings per share. analysts forecast that Navient Corp will post 1.91 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Friday, March 2nd will be issued a $0.16 dividend. The ex-dividend date of this dividend is Thursday, March 1st. This represents a $0.64 annualized dividend and a dividend yield of 4.57%. Navient’s dividend payout ratio (DPR) is 63.37%.
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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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