The New York State Teachers Retirement System reportedly liquidated 7.2% of its holdings in Navient Co. (NASDAQ: NAVI) during the third quarter, as stated in the most recent statement it filed with the SEC. The institutional investor ended up with 179,922 total company stock shares after selling 13,862 shares in the credit services provider throughout the period in question. When the most recent reporting period came to a close, the New York State Teachers Retirement System owned approximately 0.13% of Navient, which had a total value of $2,643,000.
Recent transactions have involved purchasing and selling NAVI stock by various other institutional investors and hedge funds. During the second quarter, Carolina Wealth Advisors, LLC, saw a 15.5% rise in Navient stock in its portfolio. Carolina Wealth Advisors LLC now directly owns 4,974 shares of the company, which have a value of $70,000, as a result of the purchase of 667 additional shares in the credit services provider during the most recent quarter. During the first three months of the year, Covestor Ltd. increased the percentage of Navient stock owned by 87.4%. Covestor Ltd. now owns a total of 5,042 shares of the company, which has a market capitalization of $86,000, after purchasing an additional 2,352 shares during the most recent quarter. During the third quarter, Wipfli Financial Advisors LLC invested approximately $88,000 to increase the number of shares of Navient that it owned by purchasing additional shares of the company’s stock. During the second quarter of the fiscal year, Meeder Asset Management Inc. increased the percentage of its total assets invested in Navient by 24.9%. After making an additional 1,367 stock purchases during the most recent quarter of the company’s fiscal year, Meeder Asset Management Inc. now holds a total of 6,848 shares of the company’s stock. The company’s value on the market is currently estimated at $96,000. Meritage Portfolio Management made a new investment in Navient shares during the third quarter, purchasing additional company shares and allocating approximately 151,000 dollars to the transaction. Hedge funds and other institutional investors hold 70.48 percent of the company’s shares.
John M. Kane, Executive Vice President of the company, sold 17,006 shares on Tuesday, January 3. This is yet another new turn of events. The total value of the sold shares was 281,619.36 dollars, and the price received for each share, on average, was $16.56. There were a total of 1,000 shares sold. Following the successful conclusion of the transaction, the executive vice president is now the direct owner of a total of 607,303 shares of the company. The total value of these shares is approximately $10,056,937.68. If you follow this link, you will be taken to the SEC filing in which the sale was disclosed. Please click on the link to proceed. Both current and former employees hold a stake in the company equal to 22.10% of its total value.
By writing reports, a multitude of equity analysts has contributed to the body of work that has been done on the company. JPMorgan Chase & Co. announced, in a research report that was made public on Tuesday, January 10, that they would be increasing their target price for Navient from $14.50 to $17.00. In a report on the company’s performance published on November 8, StockNews.com shifted its recommendation for Navient from a “hold” rating to a “buy” recommendation. Previously, they recommended holding the company contributed to the body of work done on the company. JPMorgan Chase & Co. announced, in a research report that was made public on Tuesday, January 10, that they would be increasing their target price for Navient from $14.50 to $17.00. In a report on the company’s performance published on November 8, StockNews.com shifted its recommendation for Navient from a “hold” rating to a “buy” recommendation. Previously, they had recommended holding the company. Morgan S