First Trust Advisors LP Lowers Holdings in Navient Corporation $NAVI

Key Points

• First Trust Advisors LP cut its Navient stake by 62.7% in the first quarter, selling 156,490 shares and retaining 93,177 shares worth approximately $762,000. Institutional investors collectively own 97.14% of NAVI.
• Navient reported quarterly EPS of $0.29, exceeding the $0.20 analyst consensus, while revenue of $150 million also surpassed estimates. The company declared a quarterly dividend of $0.16 per share, representing a 7.6% annualized yield.
• NAVI opened at $8.47 after declining 6.7%, and analysts maintain a cautious outlook: five rate it Hold and four rate it Sell, producing an average “Reduce” rating and a $9.14 target price.

First Trust Advisors LP trimmed its position in shares of Navient Corporation (NASDAQ:NAVI - Free Report) by 62.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 93,177 shares of the credit services provider's stock after selling 156,490 shares during the quarter. First Trust Advisors LP owned about 0.10% of Navient worth $762,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Y Intercept Hong Kong Ltd purchased a new stake in shares of Navient during the first quarter valued at approximately $1,227,000. Arbiter Partners Capital Management LLC increased its position in shares of Navient by 230.5% during 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 acquiring an additional 357,454 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Navient by 20.2% in 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 acquiring an additional 418,161 shares during the last quarter. WINTON GROUP Ltd lifted its position in Navient by 208.4% in the 4th quarter. WINTON GROUP Ltd now owns 292,120 shares of the credit services provider's stock valued at $3,798,000 after acquiring an additional 197,395 shares in the last quarter. Finally, Highbridge Capital Management LLC bought a new position in Navient in the 4th quarter valued at approximately $845,000. 97.14% of the stock is owned by hedge funds and other institutional investors.

Navient Stock Down 6.7%

NAVI stock opened at $8.47 on Tuesday. The company has a market cap of $796.10 million, a price-to-earnings ratio of -16.94 and a beta of 1.18. The company has a debt-to-equity ratio of 16.73, a quick ratio of 7.67 and a current ratio of 10.53. The business's 50-day moving average is $8.38 and its two-hundred day moving average is $8.72. Navient Corporation has a fifty-two week low of $7.33 and a fifty-two week high of $13.87.

Navient (NASDAQ:NAVI - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The credit services provider reported $0.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.20 by $0.09. Navient had a positive return on equity of 4.68% and a negative net margin of 1.64%.The business had revenue of $150.00 million during the quarter, compared to the consensus estimate of $142.87 million. During the same period in the previous year, the company posted $0.20 EPS. As a group, analysts forecast that Navient Corporation will post 0.71 earnings per share for the current year.

Navient Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 19th. Investors of record on Friday, June 5th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 7.6%. The ex-dividend date was Friday, June 5th. Navient's payout ratio is -128.00%.

Wall Street Analyst Weigh In

A number of analysts have commented on NAVI shares. Weiss Ratings reissued a "sell (d)" rating on shares of Navient in a report on Wednesday, June 24th. JPMorgan Chase & Co. lowered their price target on Navient from $9.50 to $8.00 and set a "neutral" rating on the stock in a report on Monday, July 13th. Bank of America initiated coverage on Navient in a research report on Monday, April 20th. They set an "underperform" rating and a $7.00 price objective on the stock. Barclays lifted their price objective on Navient from $7.00 to $8.00 and gave the stock an "underweight" rating in a report on Thursday, April 30th. Finally, Morgan Stanley decreased their target price on Navient from $12.00 to $9.00 and set an "equal weight" rating for the company in a research report on Thursday, April 16th. Five analysts have rated the stock with a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Reduce" and an average target price of $9.14.

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.

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