Empowered Funds LLC Buys 22,646 Shares of Navient Co. (NASDAQ:NAVI)

Empowered Funds LLC increased its stake in shares of Navient Co. (NASDAQ:NAVI) by 5.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 444,467 shares of the credit services provider’s stock after acquiring an additional 22,646 shares during the period. Empowered Funds LLC’s holdings in Navient were worth $6,929,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. KBC Group NV grew its holdings in Navient by 47.0% during the third quarter. KBC Group NV now owns 4,355 shares of the credit services provider’s stock valued at $68,000 after purchasing an additional 1,392 shares during the last quarter. Meritage Portfolio Management grew its stake in Navient by 11.2% in the 3rd quarter. Meritage Portfolio Management now owns 32,140 shares of the credit services provider’s stock valued at $501,000 after buying an additional 3,243 shares during the last quarter. Covestor Ltd grew its stake in Navient by 24.6% in the 3rd quarter. Covestor Ltd now owns 7,360 shares of the credit services provider’s stock valued at $115,000 after buying an additional 1,455 shares during the last quarter. QRG Capital Management Inc. raised its holdings in Navient by 22.2% in the 3rd quarter. QRG Capital Management Inc. now owns 14,929 shares of the credit services provider’s stock worth $233,000 after acquiring an additional 2,716 shares during the period. Finally, Harbor Capital Advisors Inc. bought a new stake in Navient during the third quarter valued at about $95,000. 97.14% of the stock is owned by institutional investors.

Navient Stock Down 0.3 %

NAVI opened at $15.14 on Friday. The company has a market capitalization of $1.63 billion, a P/E ratio of 21.94 and a beta of 1.39. The company has a debt-to-equity ratio of 16.59, a current ratio of 9.49 and a quick ratio of 9.49. The firm’s fifty day moving average price is $15.34 and its two-hundred day moving average price is $15.22. Navient Co. has a fifty-two week low of $13.71 and a fifty-two week high of $19.68.

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

Navient Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.23%. Navient’s payout ratio is presently 92.75%.

Analysts Set New Price Targets

NAVI has been the topic of a number of recent analyst reports. Bank of America started coverage on Navient in a research note on Monday, September 30th. They issued a “neutral” rating and a $17.00 price objective on the stock. TD Cowen cut their price target on Navient from $14.00 to $13.00 and set a “sell” rating for the company in a report on Friday, November 1st. JPMorgan Chase & Co. increased 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. Barclays boosted 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. Finally, Keefe, Bruyette & Woods upped their target price on shares of Navient from $15.00 to $16.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Navient currently has a consensus rating of “Hold” and a consensus target price of $15.75.

Insider Buying and Selling

In related news, EVP Stephen M. Hauber sold 10,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $15.00, for a total transaction of $150,000.00. Following the completion of the sale, the executive vice president now owns 256,883 shares in the company, valued at $3,853,245. This trade represents a 3.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 27.99% of the stock is owned by corporate insiders.

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.