Bank of New York Mellon Corp lessened its holdings in shares of Navient Corp (NASDAQ:NAVI) by 0.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,966,780 shares of the credit services provider’s stock after selling 18,184 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.54% of Navient worth $34,947,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in NAVI. Russell Investments Group Ltd. boosted its holdings in shares of Navient by 3.5% during the third quarter. Russell Investments Group Ltd. now owns 357,980 shares of the credit services provider’s stock worth $4,826,000 after acquiring an additional 11,973 shares during the period. SG Americas Securities LLC boosted its stake in shares of Navient by 75.4% in the third quarter. SG Americas Securities LLC now owns 121,926 shares of the credit services provider’s stock valued at $1,644,000 after buying an additional 52,395 shares during the period. Janus Henderson Group PLC bought a new stake in shares of Navient in the third quarter valued at approximately $151,000. DekaBank Deutsche Girozentrale boosted its stake in shares of Navient by 44.6% in the third quarter. DekaBank Deutsche Girozentrale now owns 452,649 shares of the credit services provider’s stock valued at $6,138,000 after buying an additional 139,685 shares during the period. Finally, Virtu Financial LLC bought a new stake in shares of Navient in the third quarter valued at approximately $317,000. 96.26% of the stock is currently owned by hedge funds and other institutional investors.
NAVI traded down $0.15 during trading on Monday, hitting $12.27. 937,059 shares of the stock traded hands, compared to its average volume of 1,922,595. The company has a market cap of $3.02 billion, a P/E ratio of 5.87, a P/E/G ratio of 2.06 and a beta of 2.29. The company has a debt-to-equity ratio of 26.37, a current ratio of 17.67 and a quick ratio of 17.67. Navient Corp has a twelve month low of $8.23 and a twelve month high of $15.02.
Several equities research analysts recently issued reports on NAVI shares. JPMorgan Chase & Co. upgraded Navient from an “underweight” rating to a “neutral” rating and cut their price target for the company from $13.00 to $12.00 in a research note on Wednesday, January 16th. BidaskClub downgraded shares of Navient from a “hold” rating to a “sell” rating in a research report on Friday, March 22nd. ValuEngine upgraded shares of Navient from a “strong sell” rating to a “sell” rating in a research report on Tuesday, February 19th. Oppenheimer restated a “hold” rating on shares of Navient in a research report on Friday, January 25th. Finally, Zacks Investment Research downgraded shares of Navient from a “buy” rating to a “hold” rating in a research report on Thursday, January 3rd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $14.55.
Navient Corporation provides asset management and business processing services to education, health care, and government clients at the federal, state, and local levels in the United States. The company operates in three segments: Federal Family Education Loan Program (FFELP) Loans, Private Education Loans, and Business Services.
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