Invesco Ltd. Sells 93,885 Shares of Navient Corporation $NAVI

Key Points

• Invesco Ltd. has reduced its stake in Navient Corporation by 12.1%, selling 93,885 shares to own 683,704 shares valued at approximately $8.6 million.
• Analyst ratings for Navient vary, with one firm downgrading it to a "strong sell," while estimates suggest a consensus target price of approximately $13.56 per share.
• Navient recently announced a quarterly dividend of $0.16 per share, resulting in an annualized yield of 4.7%, despite a high payout ratio of 206.45%.

Invesco Ltd. lowered its stake in Navient Corporation (NASDAQ:NAVI - Free Report) by 12.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 683,704 shares of the credit services provider's stock after selling 93,885 shares during the period. Invesco Ltd. owned approximately 0.68% of Navient worth $8,635,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NAVI. Wells Fargo & Company MN lifted its holdings in Navient by 13.9% in the 4th quarter. Wells Fargo & Company MN now owns 74,148 shares of the credit services provider's stock valued at $985,000 after purchasing an additional 9,024 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Navient in the fourth quarter valued at approximately $167,000. First Trust Advisors LP grew its position in shares of Navient by 5.3% during the fourth quarter. First Trust Advisors LP now owns 229,544 shares of the credit services provider's stock worth $3,051,000 after buying an additional 11,647 shares in the last quarter. Hsbc Holdings PLC grew its position in shares of Navient by 3.8% during the fourth quarter. Hsbc Holdings PLC now owns 124,680 shares of the credit services provider's stock worth $1,653,000 after buying an additional 4,563 shares in the last quarter. Finally, Dark Forest Capital Management LP acquired a new stake in shares of Navient during the fourth quarter worth approximately $321,000. Institutional investors and hedge funds own 97.14% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of Navient from $16.50 to $15.00 and set a "market perform" rating for the company in a report on Thursday, July 31st. JPMorgan Chase & Co. increased 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. TD Securities increased their price objective on Navient from $11.00 to $12.00 and gave the stock a "sell" rating in a report on Thursday, May 1st. Morgan Stanley lowered their price target on Navient from $15.00 to $14.00 and set an "equal weight" rating on the stock in a report on Thursday, July 31st. Finally, TD Cowen downgraded Navient from a "hold" rating to a "strong sell" rating in a report on Thursday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Reduce" and a consensus target price of $13.56.

Navient Price Performance

Shares of Navient stock traded up $0.07 during trading on Thursday, reaching $13.66. The company's stock had a trading volume of 472,888 shares, compared to its average volume of 845,276. The stock has a 50-day moving average price of $13.80 and a two-hundred day moving average price of $13.28. The company has a current ratio of 9.94, a quick ratio of 9.94 and a debt-to-equity ratio of 16.52. Navient Corporation has a one year low of $10.53 and a one year high of $16.97. The stock has a market capitalization of $1.36 billion, a P/E ratio of 44.07 and a beta of 1.37.

Navient (NASDAQ:NAVI - Get Free Report) last released its quarterly 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). 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 the consensus estimate of $156.20 million. During the same period in the prior year, the firm earned $0.29 earnings per share. Navient has set its FY 2025 guidance at 0.950-1.050 EPS. As a group, sell-side analysts anticipate that Navient Corporation will post 1.04 EPS for the current fiscal year.

Navient Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors 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 dividend yield of 4.7%. The ex-dividend date of this dividend is Friday, September 5th. Navient's payout ratio 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.