Bridgeway Capital Management LLC Sells 60,517 Shares of Navient Corporation $NAVI

Key Points

• Bridgeway Capital Management LLC has reduced its stake in Navient Corporation by 6.6%, now holding 856,715 shares valued at $10.82 million.
• JPMorgan Chase & Co. raised its price target for Navient from $12.50 to $15.50, indicating a "neutral" rating, while Morgan Stanley lowered its target from $15.00 to $14.00.
• Navient recently announced a quarterly dividend of $0.16 per share, leading to an annualized yield of 4.7% despite having a high dividend payout ratio of 206.45%.

Bridgeway Capital Management LLC lowered its holdings in shares of Navient Corporation (NASDAQ:NAVI - Free Report) by 6.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 856,715 shares of the credit services provider's stock after selling 60,517 shares during the quarter. Bridgeway Capital Management LLC owned approximately 0.85% of Navient worth $10,820,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Navient by 1.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,052 shares of the credit services provider's stock worth $585,000 after buying an additional 823 shares during the last quarter. Neuberger Berman Group LLC grew its position in Navient by 5.6% in the first quarter. Neuberger Berman Group LLC now owns 18,100 shares of the credit services provider's stock worth $229,000 after acquiring an additional 962 shares in the last quarter. Covestor Ltd grew its position in Navient by 15.7% in the first quarter. Covestor Ltd now owns 7,303 shares of the credit services provider's stock worth $92,000 after acquiring an additional 993 shares in the last quarter. Brevan Howard Capital Management LP increased its stake in Navient by 16.3% during the fourth quarter. Brevan Howard Capital Management LP now owns 12,877 shares of the credit services provider's stock worth $171,000 after acquiring an additional 1,804 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in Navient during the first quarter valued at approximately $40,000. 97.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Bank of America lowered Navient from a "neutral" rating to an "underperform" rating and set a $12.00 price objective for the company. in a research note on Thursday, September 4th. Morgan Stanley lowered their price target on Navient from $15.00 to $14.00 and set an "equal weight" rating for the company in a research report on Thursday, July 31st. JPMorgan Chase & Co. boosted their price objective on shares of Navient from $12.50 to $15.50 and gave the company a "neutral" rating in a research report on Friday, July 11th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Navient from $16.50 to $15.00 and set a "market perform" rating for the company in a report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus price target of $13.06.

Navient Trading Down 1.2%

NAVI stock traded down $0.17 during mid-day trading on Tuesday, reaching $13.44. The company had a trading volume of 174,952 shares, compared to its average volume of 807,094. The company has a market capitalization of $1.34 billion, a PE ratio of 43.31 and a beta of 1.35. The firm has a 50 day moving average of $13.77 and a 200 day moving average of $13.27. Navient Corporation has a 12 month low of $10.53 and a 12 month high of $16.44. The company has a debt-to-equity ratio of 16.52, a current ratio of 9.94 and a quick ratio of 9.94.

Navient (NASDAQ:NAVI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The credit services provider reported $0.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.27 by ($0.06). Navient had a net margin of 0.89% and a return on equity of 4.08%. The firm had revenue of $156.00 million during the quarter, compared to analysts' expectations of $156.20 million. During the same quarter in the previous year, the firm posted $0.29 EPS. Navient has set its FY 2025 guidance at 0.950-1.050 EPS. On average, equities analysts predict that Navient Corporation will post 1.04 earnings per share for the current fiscal year.

Navient Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be issued a dividend of $0.16 per share. The ex-dividend date is Friday, September 5th. This represents a $0.64 dividend on an annualized basis and a yield of 4.8%. Navient's dividend payout ratio is currently 206.45%.

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.