Jacobs Levy Equity Management Inc. Has $31.60 Million Stock Position in Navient Co. (NASDAQ:NAVI)

Jacobs Levy Equity Management Inc. cut its stake in Navient Co. (NASDAQ:NAVI) by 1.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,816,136 shares of the credit services provider’s stock after selling 23,713 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 1.62% of Navient worth $31,601,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Jupiter Asset Management Ltd. bought a new position in shares of Navient in the first quarter worth about $4,813,000. State Board of Administration of Florida Retirement System lifted its stake in Navient by 178.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 73,578 shares of the credit services provider’s stock valued at $1,177,000 after purchasing an additional 47,189 shares during the last quarter. Denali Advisors LLC acquired a new stake in Navient in the fourth quarter valued at approximately $2,441,000. Bridgeway Capital Management LLC increased its holdings in shares of Navient by 8.8% during the fourth quarter. Bridgeway Capital Management LLC now owns 811,826 shares of the credit services provider’s stock worth $15,116,000 after buying an additional 65,576 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its position in Navient by 265.4% during the 1st quarter. BNP Paribas Financial Markets now owns 128,690 shares of the credit services provider’s stock worth $2,239,000 after acquiring an additional 93,469 shares during the last quarter. 97.14% of the stock is currently owned by institutional investors.

Navient Stock Up 2.0 %

Shares of Navient stock traded up $0.32 during trading on Tuesday, reaching $16.42. 684,479 shares of the company traded hands, compared to its average volume of 873,277. The company has a debt-to-equity ratio of 17.30, a current ratio of 9.99 and a quick ratio of 9.99. The firm has a market capitalization of $1.80 billion, a PE ratio of 10.32 and a beta of 1.40. The company has a 50 day moving average price of $14.79 and a 200-day moving average price of $15.87. Navient Co. has a 1-year low of $13.95 and a 1-year high of $19.68.

Navient (NASDAQ:NAVI) last announced its quarterly earnings data on Wednesday, July 24th. The credit services provider reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.14). Navient had a net margin of 3.41% and a return on equity of 11.06%. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $157.27 million. During the same quarter in the prior year, the company posted $0.70 EPS. As a group, equities research analysts expect that Navient Co. will post 1.48 earnings per share for the current fiscal year.

Navient Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.64 annualized dividend and a dividend yield of 3.90%. Navient’s dividend payout ratio is 41.03%.

Analysts Set New Price Targets

Several analysts have recently weighed in on NAVI shares. TD Cowen reduced their price target on Navient from $14.00 to $13.00 and set a “sell” rating on the stock in a report on Friday, April 26th. Keefe, Bruyette & Woods increased their price objective on Navient from $15.00 to $16.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. Barclays lowered their target price on Navient from $11.00 to $10.00 and set an “underweight” rating for the company in a research report on Tuesday, July 9th. Finally, JPMorgan Chase & Co. cut their price objective on Navient from $16.00 to $15.00 and set a “neutral” rating on the stock in a research note on Monday, July 8th. Three investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat.com, Navient has an average rating of “Hold” and an average target price of $15.80.

Insider Transactions at Navient

In other Navient news, EVP Mark L. Heleen sold 10,000 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $16.00, for a total transaction of $160,000.00. Following the completion of the sale, the executive vice president now owns 393,611 shares in the company, valued at approximately $6,297,776. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 27.99% of the stock is owned by insiders.

About Navient

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.