North Star Asset Management Inc. Sells 119,921 Shares of Navient Co. (NASDAQ:NAVI)

North Star Asset Management Inc. trimmed its holdings in Navient Co. (NASDAQ:NAVI) by 37.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 204,526 shares of the credit services provider’s stock after selling 119,921 shares during the quarter. North Star Asset Management Inc.’s holdings in Navient were worth $2,978,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. ProShare Advisors LLC raised its holdings in Navient by 4.1% in the 1st quarter. ProShare Advisors LLC now owns 16,794 shares of the credit services provider’s stock worth $292,000 after acquiring an additional 668 shares during the last quarter. Signaturefd LLC boosted its position in Navient by 22.1% in the second quarter. Signaturefd LLC now owns 4,797 shares of the credit services provider’s stock worth $70,000 after purchasing an additional 869 shares during the last quarter. Covestor Ltd increased its holdings in Navient by 23.1% during the first quarter. Covestor Ltd now owns 6,245 shares of the credit services provider’s stock valued at $109,000 after buying an additional 1,173 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its position in Navient by 1.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 133,901 shares of the credit services provider’s stock worth $2,329,000 after acquiring an additional 1,444 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Navient during the 1st quarter worth $36,000. Institutional investors own 97.14% of the company’s stock.

Navient Trading Up 0.1 %

NAVI opened at $15.84 on Friday. The company has a current ratio of 9.99, a quick ratio of 9.99 and a debt-to-equity ratio of 17.30. Navient Co. has a 12 month low of $13.95 and a 12 month high of $19.68. The firm has a market cap of $1.77 billion, a P/E ratio of 10.15 and a beta of 1.39. The stock has a 50-day moving average of $15.33 and a 200 day moving average of $15.64.

Navient (NASDAQ:NAVI) last posted its quarterly earnings data on Wednesday, July 24th. The credit services provider reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.14). Navient had a net margin of 3.41% and a return on equity of 11.06%. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $157.27 million. During the same quarter in the previous year, the firm earned $0.70 EPS. As a group, research analysts forecast that Navient Co. will post 1.43 EPS for the current year.

Navient Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be given a $0.16 dividend. The ex-dividend date is Friday, September 6th. This represents a $0.64 annualized dividend and a dividend yield of 4.04%. Navient’s payout ratio is presently 41.03%.

Wall Street Analyst Weigh In

NAVI has been the topic of a number of recent research reports. Keefe, Bruyette & Woods raised their target price on Navient from $15.00 to $16.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. decreased their target price on shares of Navient from $16.00 to $15.00 and set a “neutral” rating on the stock in a research note on Monday, July 8th. Finally, Barclays dropped their target price on shares of Navient from $11.00 to $10.00 and set an “underweight” rating for the company in a report on Tuesday, July 9th. Three research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat, Navient currently has an average rating of “Hold” and an average price target of $15.56.

Navient 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.