California State Teachers Retirement System lessened its stake in shares of Navient Corp (NASDAQ:NAVI) by 8.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 421,329 shares of the credit services provider’s stock after selling 37,047 shares during the quarter. California State Teachers Retirement System’s holdings in Navient were worth $4,875,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. HRT Financial LLC raised its position in Navient by 14.1% in the fourth quarter. HRT Financial LLC now owns 14,362 shares of the credit services provider’s stock worth $126,000 after acquiring an additional 1,772 shares in the last quarter. KBC Group NV raised its position in Navient by 9.1% in the fourth quarter. KBC Group NV now owns 22,362 shares of the credit services provider’s stock worth $197,000 after acquiring an additional 1,871 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Navient by 5.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 35,249 shares of the credit services provider’s stock worth $311,000 after acquiring an additional 1,909 shares in the last quarter. Texas Permanent School Fund raised its position in Navient by 1.4% in the fourth quarter. Texas Permanent School Fund now owns 150,241 shares of the credit services provider’s stock worth $1,324,000 after acquiring an additional 2,052 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its position in Navient by 4.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 58,806 shares of the credit services provider’s stock worth $518,000 after acquiring an additional 2,461 shares in the last quarter. Institutional investors and hedge funds own 94.11% of the company’s stock.

In other news, EVP Stephen M. Hauber sold 9,000 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $13.63, for a total value of $122,670.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.85% of the company’s stock.

Several research firms have issued reports on NAVI. Zacks Investment Research upgraded Navient from a “sell” rating to a “hold” rating in a research report on Monday, February 25th. Oppenheimer reiterated a “hold” rating on shares of Navient in a research report on Monday, March 25th. BidaskClub upgraded Navient from a “hold” rating to a “buy” rating in a research report on Saturday, May 4th. ValuEngine upgraded Navient from a “strong sell” rating to a “sell” rating in a research report on Tuesday, February 19th. Finally, BMO Capital Markets increased their price objective on Navient from $14.00 to $16.00 and gave the stock a “market perform” rating in a research report on Thursday, April 25th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $15.10.

Shares of NAVI stock opened at $13.36 on Friday. Navient Corp has a fifty-two week low of $8.23 and a fifty-two week high of $14.48. The firm has a market capitalization of $3.19 billion, a PE ratio of 6.39, a PEG ratio of 2.08 and a beta of 2.20. The company has a debt-to-equity ratio of 25.60, a current ratio of 12.43 and a quick ratio of 12.43.

Navient (NASDAQ:NAVI) last announced its quarterly earnings results on Tuesday, April 23rd. The credit services provider reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.12. Navient had a return on equity of 15.10% and a net margin of 6.99%. The business had revenue of $285.00 million during the quarter, compared to analysts’ expectations of $304.67 million. During the same quarter last year, the business posted $0.43 earnings per share. As a group, sell-side analysts anticipate that Navient Corp will post 2.14 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, June 7th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date of this dividend is Thursday, June 6th. Navient’s dividend payout ratio is currently 30.62%.

TRADEMARK VIOLATION WARNING: This piece was originally posted by Daily Political and is owned by of Daily Political. If you are viewing this piece on another domain, it was stolen and republished in violation of United States & international trademark & copyright law. The correct version of this piece can be accessed at https://www.dailypolitical.com/2019/06/14/california-state-teachers-retirement-system-has-4-88-million-stake-in-navient-corp-nasdaqnavi.html.

Navient Company Profile

Navient Corporation provides education loan management and business processing solutions for education, healthcare, and government clients at the federal, state, and local levels in the United States. It operates in three segments: Federal Education Loans, Consumer Lending, and Business Processing. The company holds and acquires Federal Family Education Loan Program loans that are insured or guaranteed by state or not-for-profit agencies; and performs servicing and asset recovery services on its own loan portfolio, and federal education loans owned by the United States Department of Education and other institutions.

Featured Story: Are 12b-1 Fees Affecting Your Mutual Fund Performance?

Want to see what other hedge funds are holding NAVI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Navient Corp (NASDAQ:NAVI).

Institutional Ownership by Quarter for Navient (NASDAQ:NAVI)

Receive News & Ratings for Navient Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Navient and related companies with MarketBeat.com's FREE daily email newsletter.