Bank of New York Mellon Corp Invests $3.18 Million in Navient Corporation $NAVI

Key Points

• Bank of New York Mellon acquired 373,162 Navient shares worth approximately $3.18 million, while institutional investors collectively own 97.14% of NAVI.
• Analyst sentiment remains cautious: Navient has a consensus rating of “Reduce,” with five Hold and four Sell ratings and an average price target of $9.14.
• Navient beat quarterly earnings expectations, reporting $0.29 in EPS versus a $0.20 estimate, and declared a quarterly dividend of $0.16, yielding approximately 6.6% annually.

Bank of New York Mellon Corp acquired a new stake in Navient Corporation (NASDAQ:NAVI - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 373,162 shares of the credit services provider's stock, valued at approximately $3,176,000. Bank of New York Mellon Corp owned 0.40% of Navient as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Y Intercept Hong Kong Ltd acquired a new stake in Navient during the first quarter worth about $1,227,000. Arbiter Partners Capital Management LLC increased its stake in shares of Navient by 230.5% in the first quarter. Arbiter Partners Capital Management LLC now owns 512,548 shares of the credit services provider's stock valued at $4,193,000 after buying an additional 357,454 shares during the period. Bank of America Corp DE increased its holdings in Navient by 685.3% in the first quarter. Bank of America Corp DE now owns 1,243,764 shares of the credit services provider's stock valued at $10,174,000 after purchasing an additional 1,085,380 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Navient by 20.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,484,742 shares of the credit services provider's stock worth $32,302,000 after purchasing an additional 418,161 shares during the last quarter. Finally, WINTON GROUP Ltd raised its position in shares of Navient by 208.4% in the 4th quarter. WINTON GROUP Ltd now owns 292,120 shares of the credit services provider's stock worth $3,798,000 after acquiring an additional 197,395 shares in the last quarter. 97.14% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NAVI has been the topic of a number of research reports. JPMorgan Chase & Co. lowered their target price on Navient from $9.50 to $8.00 and set a "neutral" rating on the stock in a research report on Monday, July 13th. Weiss Ratings reiterated a "sell (d)" rating on shares of Navient in a research note on Wednesday, June 24th. Finally, TD Cowen reissued a "sell" rating on shares of Navient in a report on Friday, August 7th. Five equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat, Navient has an average rating of "Reduce" and a consensus price target of $9.14.

Navient Price Performance

NAVI opened at $9.63 on Monday. The stock has a market capitalization of $903.10 million, a P/E ratio of -19.26 and a beta of 1.18. Navient Corporation has a 12-month low of $7.33 and a 12-month high of $13.84. The stock has a 50-day moving average price of $8.86 and a 200-day moving average price of $8.57. The company has a current ratio of 10.53, a quick ratio of 10.53 and a debt-to-equity ratio of 16.73.

Navient (NASDAQ:NAVI - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The credit services provider reported $0.29 earnings per share for the quarter, topping analysts' consensus estimates of $0.20 by $0.09. The firm had revenue of $150.00 million during the quarter, compared to analyst estimates of $142.87 million. Navient had a negative net margin of 1.64% and a positive return on equity of 4.68%. During the same period in the previous year, the business posted $0.20 EPS. Equities analysts predict that Navient Corporation will post 0.78 earnings per share for the current fiscal year.

Navient Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 6.6%. The ex-dividend date of this dividend is Friday, September 4th. Navient's payout ratio is -128.00%.

About Navient

Navient Corporation NASDAQ: NAVI is a specialized provider of asset management and business processing solutions, with a primary focus on student loan servicing. Established in 2014 through the separation from Sallie Mae, Navient assumed responsibility for servicing federal and private education loans, positioning itself as one of the largest servicers of higher education debt in the United States.

The company's core activities center on federal student loan servicing under contracts with the U.S.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.