Donald Smith & CO. Inc. Boosts Stake in Navient Co. (NASDAQ:NAVI)

Donald Smith & CO. Inc. lifted its stake in shares of Navient Co. (NASDAQ:NAVI) by 27.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,581,311 shares of the credit services provider’s stock after acquiring an additional 779,973 shares during the period. Navient accounts for approximately 1.3% of Donald Smith & CO. Inc.’s portfolio, making the stock its 28th biggest holding. Donald Smith & CO. Inc. owned 3.20% of Navient worth $55,833,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NAVI. ProShare Advisors LLC increased its position in Navient by 4.1% during the first quarter. ProShare Advisors LLC now owns 16,794 shares of the credit services provider’s stock worth $292,000 after purchasing an additional 668 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Navient by 1.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 46,534 shares of the credit services provider’s stock worth $678,000 after buying an additional 722 shares during the last quarter. Signaturefd LLC raised its position in shares of Navient by 22.1% in the 2nd quarter. Signaturefd LLC now owns 4,797 shares of the credit services provider’s stock worth $70,000 after buying an additional 869 shares during the period. Covestor Ltd boosted its holdings in Navient by 23.1% in the first quarter. Covestor Ltd now owns 6,245 shares of the credit services provider’s stock valued at $109,000 after acquiring an additional 1,173 shares during the last quarter. Finally, Wedge Capital Management L L P NC grew its position in Navient by 2.7% during the third quarter. Wedge Capital Management L L P NC now owns 45,584 shares of the credit services provider’s stock valued at $711,000 after acquiring an additional 1,218 shares during the period. Hedge funds and other institutional investors own 97.14% of the company’s stock.

Navient Stock Up 3.7 %

Shares of NAVI traded up $0.56 during midday trading on Wednesday, hitting $15.70. The company had a trading volume of 394,840 shares, compared to its average volume of 780,600. The company has a quick ratio of 9.99, a current ratio of 9.99 and a debt-to-equity ratio of 17.30. The company’s 50 day moving average price is $15.65 and its 200 day moving average price is $15.31. Navient Co. has a 52 week low of $13.95 and a 52 week high of $19.68. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of 9.71 and a beta of 1.39.

Navient Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.64 annualized dividend and a dividend yield of 4.08%. Navient’s dividend payout ratio (DPR) is 41.03%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Keefe, Bruyette & Woods raised their price objective on Navient from $15.00 to $16.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. Bank of America started coverage on shares of Navient in a research note on Monday, September 30th. They set a “neutral” rating and a $17.00 price objective for the company. Barclays raised their target price on shares of Navient from $10.00 to $11.00 and gave the company an “underweight” rating in a research note on Tuesday, October 8th. Finally, JPMorgan Chase & Co. upped their price target on shares of Navient from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Monday, October 7th. Three investment analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $15.78.

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.