Legal & General Group Plc Sells 32,809 Shares of Navient Corp (NAVI)
Legal & General Group Plc trimmed its holdings in Navient Corp (NASDAQ:NAVI) by 5.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 530,311 shares of the credit services provider’s stock after selling 32,809 shares during the period. Legal & General Group Plc’s holdings in Navient were worth $4,672,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Thrivent Financial for Lutherans boosted its holdings in shares of Navient by 4.4% during the 4th quarter. Thrivent Financial for Lutherans now owns 58,806 shares of the credit services provider’s stock worth $518,000 after buying an additional 2,461 shares during the period. Jane Street Group LLC bought a new stake in shares of Navient during the 4th quarter worth $93,000. Fir Tree Capital Management LP bought a new stake in shares of Navient during the 4th quarter worth $3,550,000. Amundi Pioneer Asset Management Inc. boosted its holdings in shares of Navient by 156.4% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 45,084 shares of the credit services provider’s stock worth $398,000 after buying an additional 27,500 shares during the period. Finally, OLD Mission Capital LLC bought a new stake in shares of Navient during the 4th quarter worth $103,000. 96.26% of the stock is owned by institutional investors.
Shares of Navient stock opened at $12.15 on Thursday. The company has a quick ratio of 17.67, a current ratio of 17.67 and a debt-to-equity ratio of 26.37. Navient Corp has a fifty-two week low of $8.23 and a fifty-two week high of $15.02. The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of 5.81, a P/E/G ratio of 2.02 and a beta of 2.29.
The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 5.27%. The ex-dividend date was Thursday, February 28th. Navient’s dividend payout ratio (DPR) is presently 30.62%.
Several analysts recently issued reports on NAVI shares. BidaskClub raised shares of Navient from a “sell” rating to a “hold” rating in a report on Saturday, January 12th. Oppenheimer reaffirmed a “hold” rating on shares of Navient in a report on Monday, March 25th. ValuEngine raised shares of Navient from a “strong sell” rating to a “sell” rating in a report on Tuesday, February 19th. JPMorgan Chase & Co. raised shares of Navient from an “underweight” rating to a “neutral” rating and decreased their price objective for the stock from $13.00 to $12.00 in a report on Wednesday, January 16th. Finally, Zacks Investment Research downgraded shares of Navient from a “hold” rating to a “sell” rating in a report on Monday, February 11th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $14.55.
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Navient Corporation provides asset management and business processing services to education, health care, and government clients at the federal, state, and local levels in the United States. The company operates in three segments: Federal Family Education Loan Program (FFELP) Loans, Private Education Loans, and Business Services.
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