Navient Corporation $NAVI Position Boosted by Wellington Management Group LLP

Key Points

• Wellington Management increased its Navient stake by 41.5% in the second quarter to 1.94 million shares, while institutional investors collectively owned 97.14% of the company.
• Navient exceeded quarterly expectations, reporting $0.29 in earnings per share versus the $0.20 consensus estimate and revenue of $150 million against expectations of $142.87 million.
• The company declared a quarterly dividend of $0.16, or $0.64 annualized, representing a 6.6% yield; however, analysts remain cautious, with a consensus “Reduce” rating and an average price target of $9.14.

Wellington Management Group LLP lifted its position in Navient Corporation (NASDAQ:NAVI - Free Report) by 41.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,939,380 shares of the credit services provider's stock after acquiring an additional 568,590 shares during the quarter. Wellington Management Group LLP owned 2.07% of Navient worth $16,504,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of NAVI. BlackRock Inc. acquired a new position in Navient during the 2nd quarter valued at approximately $110,235,000. Bank of America Corp DE bought a new stake in Navient in the 2nd quarter valued at about $11,989,000. Orbis Allan Gray Ltd boosted its stake in Navient by 23.2% during the 2nd quarter. Orbis Allan Gray Ltd now owns 2,848,718 shares of the credit services provider's stock valued at $40,167,000 after purchasing an additional 536,933 shares during the period. PDT Partners LLC acquired a new stake in shares of Navient in the second quarter valued at approximately $4,435,000. Finally, Man Group plc bought a new stake in shares of Navient during the second quarter valued at approximately $4,064,000. Institutional investors and hedge funds own 97.14% of the company's stock.

Navient Stock Performance

NASDAQ NAVI opened at $9.63 on Monday. The firm's 50 day moving average price is $8.86 and its two-hundred day moving average price is $8.57. The company has a debt-to-equity ratio of 16.73, a quick ratio of 10.53 and a current ratio of 10.53. Navient Corporation has a twelve month low of $7.33 and a twelve month high of $13.84. The stock has a market cap of $903.10 million, a price-to-earnings ratio of -19.26 and a beta of 1.18.

Navient (NASDAQ:NAVI - Get Free Report) last issued its earnings results on Thursday, August 6th. The credit services provider reported $0.29 EPS for the quarter, topping the consensus estimate 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 analysts' expectations of $142.87 million. During the same quarter last year, the firm posted $0.20 earnings per share. Equities analysts anticipate that Navient Corporation will post 0.78 EPS for the current year.

Navient Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 6.6%. The ex-dividend date of this dividend is Friday, September 4th. Navient's dividend payout ratio is currently -128.00%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on NAVI shares. TD Cowen reiterated a "sell" rating on shares of Navient in a report on Friday, August 7th. Weiss Ratings restated a "sell (d)" rating on shares of Navient in a research report on Wednesday, June 24th. Finally, JPMorgan Chase & Co. decreased their target price on Navient from $9.50 to $8.00 and set a "neutral" rating for the company in a research note on Monday, July 13th. Five analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, Navient presently has a consensus rating of "Reduce" and an average target price of $9.14.

Navient Company Profile

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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