Navient Co. (NASDAQ:NAVI) Shares Sold by ClearAlpha Technologies LP

ClearAlpha Technologies LP cut its stake in Navient Co. (NASDAQ:NAVI) by 23.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 50,273 shares of the credit services provider’s stock after selling 15,214 shares during the period. ClearAlpha Technologies LP’s holdings in Navient were worth $784,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Paloma Partners Management Co acquired a new position in shares of Navient in the 3rd quarter valued at $174,000. Verition Fund Management LLC boosted its holdings in Navient by 137.2% in the third quarter. Verition Fund Management LLC now owns 33,653 shares of the credit services provider’s stock valued at $525,000 after acquiring an additional 19,465 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Navient during the third quarter worth about $511,000. Cerity Partners LLC increased its stake in Navient by 82.7% during the third quarter. Cerity Partners LLC now owns 38,323 shares of the credit services provider’s stock worth $597,000 after acquiring an additional 17,349 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Navient by 1.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,092,270 shares of the credit services provider’s stock worth $17,028,000 after purchasing an additional 19,606 shares during the period. 97.14% of the stock is currently owned by hedge funds and other institutional investors.

Navient Stock Up 1.7 %

Shares of NASDAQ NAVI opened at $15.58 on Monday. The company has a debt-to-equity ratio of 16.59, a quick ratio of 9.49 and a current ratio of 9.49. Navient Co. has a 1 year low of $13.71 and a 1 year high of $19.68. The stock’s 50-day simple moving average is $15.26 and its 200-day simple moving average is $15.19. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of 22.58 and a beta of 1.39.

Navient (NASDAQ:NAVI) last posted its quarterly earnings data on Wednesday, October 30th. The credit services provider reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $1.20. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $150.04 million. Navient had a return on equity of 8.62% and a net margin of 1.71%. During the same period in the previous year, the business earned $0.84 EPS. As a group, equities analysts anticipate that Navient Co. will post 2.47 earnings per share for the current fiscal year.

Navient Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.16 per share. The ex-dividend date is Friday, December 6th. This represents a $0.64 dividend on an annualized basis and a yield of 4.11%. Navient’s dividend payout ratio (DPR) is 92.75%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on NAVI shares. Barclays increased their target price on shares of Navient from $10.00 to $11.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 8th. StockNews.com raised shares of Navient from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Bank of America initiated coverage on shares of Navient in a report on Monday, September 30th. They set a “neutral” rating and a $17.00 target price on the stock. JPMorgan Chase & Co. raised their price objective on Navient from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, October 7th. Finally, TD Cowen decreased their target price on Navient from $14.00 to $13.00 and set a “sell” rating for the company in a research report on Friday, November 1st. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Navient has an average rating of “Hold” and an average price target of $15.75.

Insiders Place Their Bets

In other Navient news, EVP Stephen M. Hauber sold 10,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $15.00, for a total transaction of $150,000.00. Following the transaction, the executive vice president now owns 256,883 shares of the company’s stock, valued at $3,853,245. This trade represents a 3.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 27.99% of the stock is owned by company insiders.

About Navient

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.