Navient Corporation $NAVI Shares Sold by Rhumbline Advisers

Key Points

• Rhumbline Advisers reduced its stake in Navient Corporation by 14.9%, now owning about 0.29% of the company, valued at $3.69 million.
• Navient reported a net margin of 0.89% and a miss in earnings per share of $0.21, below the analysts' estimate of $0.27 for the quarter ending July 30.
• The company declared a quarterly dividend of $0.16 per share, yielding approximately 5.0%, with a payout ratio of 206.45%.

Rhumbline Advisers lessened its holdings in Navient Corporation (NASDAQ:NAVI - Free Report) by 14.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 292,347 shares of the credit services provider's stock after selling 50,994 shares during the period. Rhumbline Advisers owned about 0.29% of Navient worth $3,692,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Bank of America Corp DE increased its stake in shares of Navient by 69.4% in the fourth quarter. Bank of America Corp DE now owns 667,372 shares of the credit services provider's stock worth $8,869,000 after purchasing an additional 273,483 shares during the period. Captrust Financial Advisors bought a new position in Navient during the fourth quarter worth about $199,000. Janus Henderson Group PLC raised its position in Navient by 557.3% during the fourth quarter. Janus Henderson Group PLC now owns 316,699 shares of the credit services provider's stock valued at $4,207,000 after purchasing an additional 268,520 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Navient by 1.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,052 shares of the credit services provider's stock valued at $585,000 after acquiring an additional 823 shares during the last quarter. Finally, Millennium Management LLC grew its position in shares of Navient by 206.7% during the 4th quarter. Millennium Management LLC now owns 225,901 shares of the credit services provider's stock valued at $3,002,000 after acquiring an additional 152,252 shares during the period. Institutional investors and hedge funds own 97.14% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on NAVI shares. Keefe, Bruyette & Woods dropped their price objective 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. Morgan Stanley decreased their price target on shares of Navient from $15.00 to $14.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 31st. Bank of America downgraded shares of Navient from a "neutral" rating to an "underperform" rating and set a $12.00 target price on the stock. in a research note on Thursday, September 4th. Finally, JPMorgan Chase & Co. raised their price target on shares of Navient from $12.50 to $15.50 and gave the stock a "neutral" rating in a research note on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Reduce" and an average price target of $13.06.

Navient Stock Performance

Shares of NAVI traded down $0.03 during mid-day trading on Friday, reaching $13.31. 2,432,570 shares of the company's stock were exchanged, compared to its average volume of 745,328. The company has a debt-to-equity ratio of 16.52, a current ratio of 9.94 and a quick ratio of 9.94. The stock has a market capitalization of $1.32 billion, a PE ratio of 42.94 and a beta of 1.35. The business's fifty day simple moving average is $13.41 and its 200-day simple moving average is $13.23. Navient Corporation has a 52-week low of $10.53 and a 52-week high of $16.17.

Navient (NASDAQ:NAVI - Get Free Report) last announced its earnings results 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). The business had revenue of $156.00 million for the quarter, compared to analysts' expectations of $156.20 million. Navient had a return on equity of 4.08% and a net margin of 0.89%.During the same quarter last year, the business posted $0.29 earnings per share. Navient has set its FY 2025 guidance at 0.950-1.050 EPS. On average, equities research analysts expect that Navient Corporation 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, September 19th. Stockholders of record on Friday, September 5th will be given a $0.16 dividend. The ex-dividend date is Friday, September 5th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.8%. Navient's dividend payout ratio (DPR) is currently 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.