Millennium Management LLC raised its stake in Navient Co. (NASDAQ:NAVI - Free Report) by 206.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 225,901 shares of the credit services provider's stock after purchasing an additional 152,252 shares during the quarter. Millennium Management LLC owned 0.21% of Navient worth $3,002,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of NAVI. Barclays PLC grew its stake in shares of Navient by 59.0% in the 3rd quarter. Barclays PLC now owns 284,130 shares of the credit services provider's stock valued at $4,429,000 after purchasing an additional 105,454 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Navient by 5.1% in the 4th quarter. Empowered Funds LLC now owns 467,232 shares of the credit services provider's stock valued at $6,210,000 after purchasing an additional 22,765 shares during the last quarter. Entropy Technologies LP grew its stake in shares of Navient by 46.2% in the 4th quarter. Entropy Technologies LP now owns 21,526 shares of the credit services provider's stock valued at $286,000 after purchasing an additional 6,800 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Navient by 5.8% in the 4th quarter. Rhumbline Advisers now owns 343,341 shares of the credit services provider's stock valued at $4,563,000 after purchasing an additional 18,760 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Navient by 0.9% in the 4th quarter. Principal Financial Group Inc. now owns 374,879 shares of the credit services provider's stock valued at $4,982,000 after buying an additional 3,445 shares during the period. 97.14% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research firms have recently commented on NAVI. TD Securities raised their price target on Navient from $11.00 to $12.00 and gave the company a "sell" rating in a report on Thursday, May 1st. Keefe, Bruyette & Woods reduced their price target on Navient from $16.00 to $14.00 and set a "market perform" rating for the company in a report on Monday, March 31st. JPMorgan Chase & Co. raised their price target on Navient from $11.00 to $12.50 and gave the company a "neutral" rating in a report on Thursday, May 1st. Jefferies Financial Group reduced their price target on Navient from $14.00 to $12.00 and set a "hold" rating for the company in a report on Monday, April 21st. Finally, TD Cowen cut Navient from a "hold" rating to a "strong sell" rating in a report on Thursday, May 1st. Three analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $12.93.
Read Our Latest Report on Navient
Navient Stock Up 0.4%
NASDAQ NAVI traded up $0.06 on Wednesday, hitting $13.56. 488,347 shares of the stock traded hands, compared to its average volume of 754,341. The stock has a 50-day moving average of $12.49 and a 200 day moving average of $13.47. Navient Co. has a twelve month low of $10.53 and a twelve month high of $16.97. The company has a market capitalization of $1.37 billion, a P/E ratio of 11.69 and a beta of 1.38. The company has a current ratio of 9.48, a quick ratio of 9.49 and a debt-to-equity ratio of 16.35.
Navient (NASDAQ:NAVI - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The credit services provider reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.09. Navient had a return on equity of 6.69% and a net margin of 2.96%. The firm had revenue of $156.00 million for the quarter, compared to analysts' expectations of $150.40 million. During the same quarter in the prior year, the firm posted $0.47 earnings per share. As a group, analysts expect that Navient Co. will post 1.04 earnings per share for the current fiscal year.
Navient Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be paid a $0.16 dividend. The ex-dividend date is Friday, June 6th. This represents a $0.64 annualized dividend and a dividend yield of 4.72%. Navient's payout ratio is 128.00%.
Navient Profile
(
Free Report)
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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