Navient Corp (NASDAQ:NAVI) Shares Sold by Aigen Investment Management LP

27 May 2020, 12:16 by Sarita Garza

Aigen Investment Management LP trimmed its position in Navient Corp (NASDAQ:NAVI) by 57.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,722 shares of the credit services provider’s stock after selling 38,583 shares during the quarter. Aigen Investment Management LP’s holdings in Navient were worth $218,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in NAVI. Chicago Equity Partners LLC grew its position in shares of Navient by 108.6% in the 4th quarter. Chicago Equity Partners LLC now owns 851,025 shares of the credit services provider’s stock valued at $11,642,000 after buying an additional 443,020 shares during the last quarter. California Public Employees Retirement System grew its position in Navient by 23.0% during the 4th quarter. California Public Employees Retirement System now owns 731,504 shares of the credit services provider’s stock worth $10,007,000 after purchasing an additional 136,862 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Navient during the 4th quarter worth $257,000. Bank of New York Mellon Corp grew its position in Navient by 8.9% during the 4th quarter. Bank of New York Mellon Corp now owns 3,840,867 shares of the credit services provider’s stock worth $52,544,000 after purchasing an additional 313,698 shares during the last quarter. Finally, Bank of Montreal Can grew its position in Navient by 29.6% during the 4th quarter. Bank of Montreal Can now owns 465,347 shares of the credit services provider’s stock worth $6,366,000 after purchasing an additional 106,419 shares during the last quarter. Institutional investors and hedge funds own 95.65% of the company’s stock.

Several brokerages have recently weighed in on NAVI. Zacks Investment Research downgraded shares of Navient from a “hold” rating to a “sell” rating and set a $7.00 target price on the stock. in a report on Thursday, April 23rd. BidaskClub raised shares of Navient from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 6th. Stephens raised shares of Navient from an “equal weight” rating to an “overweight” rating and lowered their target price for the company from $17.00 to $12.00 in a report on Thursday, April 9th. Credit Suisse Group reaffirmed a “hold” rating and issued a $11.00 target price on shares of Navient in a report on Thursday, April 23rd. Finally, Wedbush lowered their target price on shares of Navient from $18.00 to $10.00 and set a “neutral” rating on the stock in a report on Wednesday, May 20th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $11.86.

In other news, EVP Mark L. Heleen purchased 7,250 shares of the stock in a transaction dated Monday, May 4th. The stock was acquired at an average cost of $6.77 per share, for a total transaction of $49,082.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Frederick Arnold purchased 6,500 shares of the stock in a transaction dated Wednesday, May 13th. The shares were purchased at an average price of $6.66 per share, with a total value of $43,290.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 16,750 shares of company stock valued at $115,143. 1.85% of the stock is currently owned by company insiders.

Shares of NAVI opened at $7.31 on Wednesday. The company has a current ratio of 10.48, a quick ratio of 10.48 and a debt-to-equity ratio of 39.70. The stock has a market cap of $1.35 billion, a P/E ratio of 4.81 and a beta of 1.91. The company has a 50-day moving average of $7.28 and a two-hundred day moving average of $11.34. Navient Corp has a 12-month low of $4.07 and a 12-month high of $15.67.

Navient (NASDAQ:NAVI) last announced its earnings results on Tuesday, April 21st. The credit services provider reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.26). The business had revenue of $297.00 million for the quarter, compared to analyst estimates of $287.00 million. Navient had a return on equity of 18.83% and a net margin of 7.24%. During the same quarter in the previous year, the firm posted $0.58 EPS. As a group, analysts forecast that Navient Corp will post 2.19 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 19th. Shareholders of record on Friday, June 5th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 8.76%. The ex-dividend date of this dividend is Thursday, June 4th. Navient’s payout ratio is currently 24.24%.

About Navient

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.