Dimensional Fund Advisors LP Sells 524,299 Shares of Navient Co. (NASDAQ:NAVI)
Dimensional Fund Advisors LP lessened its holdings in Navient Co. (NASDAQ:NAVI) by 3.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,537,724 shares of the credit services provider’s stock after selling 524,299 shares during the period. Dimensional Fund Advisors LP owned about 0.07% of Navient worth $132,940,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Morgan Stanley boosted its stake in shares of Navient by 804.8% in the 4th quarter. Morgan Stanley now owns 1,042,004 shares of the credit services provider’s stock valued at $10,232,000 after purchasing an additional 926,836 shares in the last quarter. Point72 Asset Management L.P. grew its stake in shares of Navient by 6,742.1% during the third quarter. Point72 Asset Management L.P. now owns 909,995 shares of the credit services provider’s stock worth $7,689,000 after buying an additional 896,695 shares during the last quarter. Richard Bernstein Advisors LLC bought a new stake in shares of Navient during the fourth quarter worth $5,099,000. Great West Life Assurance Co. Can lifted its stake in shares of Navient by 464.7% in the 3rd quarter. Great West Life Assurance Co. Can now owns 627,218 shares of the credit services provider’s stock valued at $5,302,000 after acquiring an additional 516,146 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Navient during the 4th quarter valued at $3,989,000. 90.54% of the stock is owned by hedge funds and other institutional investors.
NAVI has been the topic of a number of recent research reports. JPMorgan Chase & Co. lowered Navient from an “overweight” rating to a “neutral” rating in a research note on Tuesday, January 19th. Jefferies Financial Group raised shares of Navient from a “hold” rating to a “buy” rating and boosted their target price for the stock from $11.50 to $19.00 in a report on Thursday, March 25th. Zacks Investment Research downgraded shares of Navient from a “buy” rating to a “hold” rating and set a $15.00 price target for the company. in a research note on Tuesday, March 23rd. Finally, Barclays lifted their price target on shares of Navient from $13.00 to $16.00 and gave the stock an “overweight” rating in a report on Thursday, January 28th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Navient presently has an average rating of “Buy” and a consensus price target of $13.44.
Navient (NASDAQ:NAVI) last announced its earnings results on Monday, January 25th. The credit services provider reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.14. The business had revenue of $241.00 million during the quarter, compared to the consensus estimate of $283.38 million. Navient had a net margin of 9.65% and a return on equity of 25.22%. Navient’s quarterly revenue was down 9.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.67 earnings per share. Analysts forecast that Navient Co. will post 3.25 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 19th. Stockholders of record on Friday, March 5th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date of this dividend was Thursday, March 4th. Navient’s dividend payout ratio is 24.24%.
Navient Corporation provides education loan management and business processing solutions for education, healthcare, and government clients at the federal, state, and local levels in the United States. It operates through four segments: Federal Education Loans, Consumer Lending, Business Processing, and Other.
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