Navient Corporation $NAVI Position Trimmed 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 decreased its holdings in shares of 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 and Exchange Commission (SEC). The fund 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.

Several other institutional investors have also recently added to or reduced their stakes in NAVI. Quantbot Technologies LP bought a new stake in Navient during the first quarter valued at $40,000. New Age Alpha Advisors LLC bought a new position in shares of Navient during the first quarter worth about $71,000. Covestor Ltd grew its position in shares of Navient by 15.7% during the first quarter. Covestor Ltd now owns 7,303 shares of the credit services provider's stock worth $92,000 after acquiring an additional 993 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Navient by 2,663.1% during the first quarter. GAMMA Investing LLC now owns 8,096 shares of the credit services provider's stock worth $102,000 after acquiring an additional 7,803 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Navient during the first quarter worth about $129,000. Institutional investors own 97.14% of the company's stock.

Navient Price Performance

Shares of NASDAQ NAVI opened at $12.87 on Monday. Navient Corporation has a twelve month low of $10.53 and a twelve month high of $16.44. The company has a current ratio of 9.94, a quick ratio of 9.94 and a debt-to-equity ratio of 16.52. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of 41.52 and a beta of 1.35. The firm has a 50-day moving average of $13.64 and a two-hundred day moving average of $13.24.

Navient (NASDAQ:NAVI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The credit services provider reported $0.21 earnings per share for the quarter, missing analysts' consensus estimates of $0.27 by ($0.06). Navient had a net margin of 0.89% and a return on equity of 4.08%. The business had revenue of $156.00 million during the quarter, compared to analyst estimates of $156.20 million. During the same period in the previous year, the company posted $0.29 earnings per share. Navient has set its FY 2025 guidance at 0.950-1.050 EPS. As a group, analysts expect that Navient Corporation 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, September 19th. Shareholders of record on Friday, September 5th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend is Friday, September 5th. Navient's dividend payout ratio is presently 206.45%.

Analyst Ratings Changes

Several research firms have recently commented on NAVI. Morgan Stanley lowered their price target on shares of Navient from $15.00 to $14.00 and set an "equal weight" rating for the company in a research report on Thursday, July 31st. Keefe, Bruyette & Woods lowered their price target on shares of Navient from $16.50 to $15.00 and set a "market perform" rating for the company in a research report on Thursday, July 31st. Bank of America lowered shares of Navient from a "neutral" rating to an "underperform" rating and set a $12.00 price target for the company. in a research report on Thursday, September 4th. Finally, JPMorgan Chase & Co. upped their price target on shares of Navient from $12.50 to $15.50 and gave the stock a "neutral" rating in a research report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average price target of $13.06.

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.

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