Navient Co. (NASDAQ:NAVI) Shares Sold by Rhumbline Advisers

Rhumbline Advisers reduced its stake in Navient Co. (NASDAQ:NAVI - Free Report) by 14.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 292,347 shares of the credit services provider's stock after selling 50,994 shares during the period. Rhumbline Advisers owned approximately 0.29% of Navient worth $3,692,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Sterling Capital Management LLC boosted its position in Navient by 815.0% in the 4th quarter. Sterling Capital Management LLC now owns 2,443 shares of the credit services provider's stock valued at $32,000 after buying an additional 2,176 shares during the last quarter. GAMMA Investing LLC boosted its position in Navient by 2,663.1% in the 1st quarter. GAMMA Investing LLC now owns 8,096 shares of the credit services provider's stock valued at $102,000 after buying an additional 7,803 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Navient in the 4th quarter valued at about $167,000. Brevan Howard Capital Management LP boosted its position in Navient by 16.3% in the 4th quarter. Brevan Howard Capital Management LP now owns 12,877 shares of the credit services provider's stock valued at $171,000 after buying an additional 1,804 shares during the last quarter. Finally, Twinbeech Capital LP purchased a new position in Navient in the 4th quarter valued at about $173,000. 97.14% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NAVI has been the topic of several research analyst reports. Jefferies Financial Group reduced their price target on shares of Navient from $14.00 to $12.00 and set a "hold" rating on the stock in a research report on Monday, April 21st. TD Cowen cut shares of Navient from a "hold" rating to a "strong sell" rating in a research report on Thursday, May 1st. Keefe, Bruyette & Woods reduced their price target on shares of Navient from $16.00 to $14.00 and set a "market perform" rating on the stock in a research report on Monday, March 31st. TD Securities increased their price target on shares of Navient from $11.00 to $12.00 and gave the stock a "sell" rating in a research report on Thursday, May 1st. Finally, JPMorgan Chase & Co. increased their price target on shares of Navient from $11.00 to $12.50 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Three analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $12.93.

Navient Stock Performance

Shares of NASDAQ NAVI opened at $13.21 on Friday. The company has a quick ratio of 9.49, a current ratio of 9.48 and a debt-to-equity ratio of 16.35. The firm's 50-day moving average price is $12.73 and its two-hundred day moving average price is $13.38. Navient Co. has a 52-week low of $10.53 and a 52-week high of $16.97. The stock has a market capitalization of $1.34 billion, a P/E ratio of 11.39 and a beta of 1.40.

Navient (NASDAQ:NAVI - Get Free Report) last issued its earnings results on Wednesday, April 30th. The credit services provider reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.19 by $0.09. Navient had a net margin of 2.96% and a return on equity of 6.69%. The firm had revenue of $156.00 million for the quarter, compared to analysts' expectations of $150.40 million. During the same quarter last year, the company posted $0.47 earnings per share. As a group, sell-side analysts forecast that Navient Co. will post 1.04 earnings per share for the current year.

Navient Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.64 annualized dividend and a dividend yield of 4.84%. Navient's payout ratio is currently 128.00%.

Navient 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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