BlackRock Amends Navient Stake to 13.9% as of Dec 31, 2023
Ticker: JSM · Form: SC 13G/A · Filed: Jan 23, 2024 · CIK: 1593538
| Field | Detail |
|---|---|
| Company | Navient Corp (JSM) |
| Form Type | SC 13G/A |
| Filed Date | Jan 23, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investing
TL;DR
**BlackRock still owns 13.9% of Navient, a slight change from prior filings.**
AI Summary
BlackRock Inc. filed an amended SC 13G/A on January 23, 2024, indicating a change in its ownership stake in Navient Corp. As of December 31, 2023, BlackRock reported beneficial ownership of 20,410,480 shares of Navient's Common Stock, representing 13.9% of the company. This is an amendment to their previous filing, showing a slight adjustment in their holdings. For investors, this matters because BlackRock is a major institutional investor, and changes in their stake can signal their confidence (or lack thereof) in Navient's future performance.
Why It Matters
This filing shows that a major institutional investor, BlackRock, continues to hold a significant stake in Navient, which can be seen as a vote of confidence in the company's long-term prospects.
Risk Assessment
Risk Level: low — This filing indicates a routine adjustment by a large institutional investor and does not suggest any immediate significant risk to Navient's stock.
Analyst Insight
Investors should note BlackRock's continued significant stake in Navient, but also recognize that institutional ownership can shift. This filing is a routine update and doesn't signal an immediate buy or sell, but rather confirms ongoing institutional interest.
Key Numbers
- 20,410,480 — Shares Beneficially Owned (BlackRock's total shares in Navient as of December 31, 2023.)
- 13.9% — Ownership Percentage (BlackRock's percentage of Navient's common stock, indicating a significant institutional stake.)
Key Players & Entities
- BlackRock Inc. (company) — the reporting person and institutional investor
- Navient Corp (company) — the subject company in which shares are held
- 20,410,480 (dollar_amount) — number of shares beneficially owned by BlackRock
- 13.9% (dollar_amount) — percentage of Navient's common stock beneficially owned by BlackRock
- December 31, 2023 (date) — the date of the event requiring the filing
- January 23, 2024 (date) — the filing date of the SC 13G/A
Forward-Looking Statements
- BlackRock will maintain a significant, albeit potentially fluctuating, stake in Navient Corp. throughout 2024. (BlackRock Inc.) — high confidence, target: December 31, 2024
FAQ
What is the purpose of this SC 13G/A filing?
This SC 13G/A filing is an amendment (Amendment No: 11) by BlackRock Inc. to report changes in its beneficial ownership of Navient Corp. Common Stock, as required by Rule 13d-1(b) of the Securities Exchange Act of 1934.
Who is the reporting person in this filing?
The reporting person in this filing is BlackRock Inc., a major institutional investment manager, as indicated by the 'FILED BY' section and 'Names of reporting persons' on the cover page.
What is the subject company of this filing?
The subject company is NAVIENT CORP, as stated under 'Name of Issuer' and in the 'SUBJECT COMPANY' data section of the filing.
As of what date did the event requiring this filing occur?
The event requiring this filing occurred on December 31, 2023, as specified under 'Date of Event Which Requires Filing of this Statement'.
What percentage of Navient Corp.'s Common Stock does BlackRock Inc. beneficially own according to this filing?
BlackRock Inc. beneficially owns 13.9% of Navient Corp.'s Common Stock, as indicated by the 'Percentage of class so owned' on the cover page of the filing.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 23, 2024 regarding NAVIENT CORP (JSM).