TD Asset Management Inc. Sells 53,017 Shares of Navient Corporation (NAVI)
TD Asset Management Inc. decreased its position in Navient Corporation (NASDAQ:NAVI) by 28.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 131,727 shares of the credit services provider’s stock after selling 53,017 shares during the period. TD Asset Management Inc. owned about 0.05% of Navient worth $1,979,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of NAVI. Creative Planning raised its holdings in Navient by 7.2% in the 2nd quarter. Creative Planning now owns 7,066 shares of the credit services provider’s stock valued at $118,000 after acquiring an additional 472 shares in the last quarter. Ffcm LLC raised its holdings in shares of Navient by 144.5% in the 2nd quarter. Ffcm LLC now owns 7,071 shares of the credit services provider’s stock worth $119,000 after buying an additional 4,179 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Navient in the 3rd quarter worth approximately $121,000. Bronfman E.L. Rothschild L.P. raised its holdings in shares of Navient by 8.8% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 7,564 shares of the credit services provider’s stock worth $126,000 after buying an additional 612 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in shares of Navient by 84.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 10,168 shares of the credit services provider’s stock worth $153,000 after buying an additional 4,642 shares in the last quarter. 92.91% of the stock is owned by hedge funds and other institutional investors.
Navient Corporation (NASDAQ:NAVI) opened at $12.76 on Monday. The company has a market capitalization of $3,356.03, a price-to-earnings ratio of 7.21 and a beta of 2.37. The company has a debt-to-equity ratio of 30.58, a current ratio of 33.10 and a quick ratio of 33.10. Navient Corporation has a 12-month low of $11.48 and a 12-month high of $17.43.
Navient (NASDAQ:NAVI) last announced its quarterly earnings data on Tuesday, October 17th. The credit services provider reported $0.55 EPS for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.05. The firm had revenue of $343.00 million for the quarter, compared to analyst estimates of $361.33 million. Navient had a return on equity of 14.09% and a net margin of 10.88%. The business’s quarterly revenue was down 15.3% compared to the same quarter last year. During the same period last year, the company earned $0.50 EPS. equities research analysts predict that Navient Corporation will post 1.76 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a $0.16 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.64 dividend on an annualized basis and a yield of 5.02%. Navient’s payout ratio is 35.36%.
Navient declared that its board has authorized a share buyback plan on Wednesday, October 4th that authorizes the company to repurchase outstanding shares. This repurchase authorization authorizes the credit services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
A number of equities analysts have recently issued reports on the company. ValuEngine raised Navient from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Jefferies Group reissued a “hold” rating and issued a $16.00 target price on shares of Navient in a report on Monday, October 16th. Zacks Investment Research raised Navient from a “sell” rating to a “hold” rating in a report on Tuesday, September 19th. Citigroup assumed coverage on Navient in a research report on Monday, October 16th. They set a “buy” rating and a $20.00 price target on the stock. Finally, BMO Capital Markets decreased their price target on Navient from $16.00 to $14.00 and set a “market perform” rating on the stock in a research report on Thursday, October 19th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $18.00.
In other news, EVP John M. Kane sold 28,886 shares of the stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $15.00, for a total value of $433,290.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Christian M. Lown purchased 6,000 shares of the business’s stock in a transaction dated Friday, October 20th. The stock was bought at an average cost of $12.35 per share, for a total transaction of $74,100.00. The disclosure for this purchase can be found here. 1.68% of the stock is currently owned by company insiders.
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Navient Corporation provides asset management and business processing services to education, healthcare and government clients at the federal, state and local levels. The Company holds the portfolio of education loans insured or federally guaranteed under the Federal Family Education Loan Program (FFELP).
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