Bridgeway Capital Management LLC Has $10.82 Million Stake in 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 cut its position in Navient Corporation (NASDAQ:NAVI - Free Report) by 6.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 856,715 shares of the credit services provider's stock after selling 60,517 shares during the period. Bridgeway Capital Management LLC owned 0.85% of Navient worth $10,820,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Orbis Allan Gray Ltd boosted its position in Navient by 29.7% in the first quarter. Orbis Allan Gray Ltd now owns 2,311,785 shares of the credit services provider's stock worth $29,198,000 after purchasing an additional 528,716 shares during the last quarter. American Century Companies Inc. lifted its stake in Navient by 7.3% in the first quarter. American Century Companies Inc. now owns 1,954,896 shares of the credit services provider's stock valued at $24,690,000 after purchasing an additional 132,313 shares during the last quarter. Northern Trust Corp grew its stake in shares of Navient by 14.6% during the 4th quarter. Northern Trust Corp now owns 1,567,466 shares of the credit services provider's stock worth $20,832,000 after acquiring an additional 199,937 shares during the period. Wellington Management Group LLP grew its stake in Navient by 10.9% in the 1st quarter. Wellington Management Group LLP now owns 1,459,166 shares of the credit services provider's stock valued at $18,429,000 after buying an additional 143,325 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Navient by 32.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,439,903 shares of the credit services provider's stock worth $18,186,000 after acquiring an additional 353,898 shares in the last quarter. Institutional investors own 97.14% of the company's stock.

Wall Street Analysts Forecast Growth

NAVI has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their price objective on Navient from $12.50 to $15.50 and gave the stock a "neutral" rating in a report on Friday, July 11th. Morgan Stanley reduced their price objective on shares of Navient from $15.00 to $14.00 and set an "equal weight" rating for the company in a research note on Thursday, July 31st. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Navient from $16.50 to $15.00 and set a "market perform" rating on the stock in a research note on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Navient presently has an average rating of "Reduce" and a consensus target price of $13.56.

Navient Stock Down 0.7%

Shares of NASDAQ:NAVI opened at $13.64 on Thursday. Navient Corporation has a 12-month low of $10.53 and a 12-month high of $16.53. The company has a current ratio of 9.94, a quick ratio of 9.94 and a debt-to-equity ratio of 16.52. The stock's 50-day moving average price is $13.79 and its 200-day moving average price is $13.29. The stock has a market capitalization of $1.36 billion, a P/E ratio of 44.00 and a beta of 1.35.

Navient (NASDAQ:NAVI - Get Free Report) last released its quarterly earnings data 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 anticipate that Navient Corporation will post 1.04 earnings per share for the current year.

Navient Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be issued a $0.16 dividend. The ex-dividend date is Friday, September 5th. This represents a $0.64 annualized dividend and a yield of 4.7%. Navient's dividend payout ratio is 206.45%.

Navient Company Profile

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.

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