Crossmark Global Holdings Inc. bought a new position in shares of Navient Corporation (NASDAQ:NAVI) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 48,441 shares of the credit services provider’s stock, valued at approximately $728,000.
Other large investors have also recently modified their holdings of the company. Creative Planning grew its holdings in shares of Navient Corporation by 7.2% during the 2nd quarter. Creative Planning now owns 7,066 shares of the credit services provider’s stock worth $118,000 after purchasing an additional 472 shares during the period. Ffcm LLC grew its holdings in shares of Navient Corporation by 144.5% during the 2nd quarter. Ffcm LLC now owns 7,071 shares of the credit services provider’s stock worth $119,000 after purchasing an additional 4,179 shares during the period. Bronfman E.L. Rothschild L.P. grew its holdings in shares of Navient Corporation by 8.8% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 7,564 shares of the credit services provider’s stock worth $126,000 after purchasing an additional 612 shares during the period. Grove Bank & Trust grew its holdings in shares of Navient Corporation by 33.3% during the 2nd quarter. Grove Bank & Trust now owns 9,280 shares of the credit services provider’s stock worth $154,000 after purchasing an additional 2,320 shares during the period. Finally, Thrivent Financial For Lutherans grew its holdings in shares of Navient Corporation by 2.3% during the 1st quarter. Thrivent Financial For Lutherans now owns 10,660 shares of the credit services provider’s stock worth $157,000 after purchasing an additional 240 shares during the period. Institutional investors and hedge funds own 95.76% of the company’s stock.
In related news, EVP John M. Kane sold 28,886 shares of the company’s stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $15.00, for a total transaction of $433,290.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Christian M. Lown purchased 6,000 shares of the company’s stock in a transaction that occurred on Friday, October 20th. The shares were purchased at an average cost of $12.35 per share, for a total transaction of $74,100.00. The disclosure for this purchase can be found here. Corporate insiders own 1.68% of the company’s stock.
NAVI has been the subject of a number of research reports. Zacks Investment Research cut Navient Corporation from a “hold” rating to a “sell” rating in a report on Thursday, October 12th. Barclays PLC set a $17.00 target price on Navient Corporation and gave the stock an “overweight” rating in a report on Tuesday. Jefferies Group LLC reiterated a “hold” rating and set a $16.00 target price on shares of Navient Corporation in a report on Friday, July 21st. BidaskClub cut Navient Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Finally, Compass Point cut Navient Corporation from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $16.50 to $15.50 in a report on Thursday, October 5th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $18.00.
Navient Corporation (NAVI) opened at $12.35 on Wednesday. The company has a market capitalization of $3,177.19, a P/E ratio of 6.82 and a beta of 2.39. The company has a debt-to-equity ratio of 30.58, a quick ratio of 33.10 and a current ratio of 33.10. Navient Corporation has a one year low of $11.48 and a one year high of $17.95.
Navient Corporation (NASDAQ:NAVI) last released its earnings results on Tuesday, October 17th. The credit services provider reported $0.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.05. The company had revenue of $343.00 million during the quarter, compared to analysts’ expectations of $361.33 million. Navient Corporation had a return on equity of 14.09% and a net margin of 10.88%. The business’s revenue was down 15.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.50 EPS. sell-side analysts anticipate that Navient Corporation will post 1.76 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 5.18%. The ex-dividend date of this dividend is Thursday, November 30th. Navient Corporation’s dividend payout ratio (DPR) is currently 35.36%.
Navient Corporation announced that its board has initiated a stock buyback plan on Wednesday, October 4th that permits the company to buyback outstanding shares. This buyback authorization permits the credit services provider to purchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.
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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