Navient Corporation $NAVI Stake Raised by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board increased its stake in Navient Corporation by 52.6% during the first quarter, owning approximately $3.7 million worth of shares.
• Navient recently reported earnings per share of $0.21, which fell short of analysts' expectations of $0.27, with revenues slightly below estimates at $156 million.
• The company announced a quarterly dividend of $0.16 per share, with a dividend yield of 4.9%, indicating a payout ratio currently at 206.45%.

Public Sector Pension Investment Board boosted its holdings in Navient Corporation (NASDAQ:NAVI - Free Report) by 52.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 293,857 shares of the credit services provider's stock after acquiring an additional 101,263 shares during the quarter. Public Sector Pension Investment Board owned about 0.29% of Navient worth $3,711,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Nuveen LLC bought a new stake in Navient in the first quarter worth about $2,986,000. Covestor Ltd raised its position in Navient by 15.7% in 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Navient in the first quarter worth about $129,000. Charles Schwab Investment Management Inc. raised its position in Navient by 32.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,439,903 shares of the credit services provider's stock worth $18,186,000 after acquiring an additional 353,898 shares in the last quarter. Finally, New Age Alpha Advisors LLC bought a new stake in Navient in the first quarter worth about $71,000. 97.14% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on NAVI. JPMorgan Chase & Co. boosted their price objective on Navient from $12.50 to $15.50 and gave the stock a "neutral" rating in a report on Friday, July 11th. Morgan Stanley cut their price objective on Navient from $15.00 to $14.00 and set an "equal weight" rating on the stock in a report on Thursday, July 31st. Keefe, Bruyette & Woods cut their price objective on Navient from $16.50 to $15.00 and set a "market perform" rating on the stock in a report on Thursday, July 31st. TD Securities boosted 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. Finally, TD Cowen downgraded Navient from a "hold" rating to a "strong sell" rating in a report on Thursday, May 1st. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $13.56.

Navient Price Performance

Shares of NAVI opened at $12.93 on Tuesday. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of 41.71 and a beta of 1.37. Navient Corporation has a fifty-two week low of $10.53 and a fifty-two week high of $16.97. 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 business's 50-day moving average is $13.82 and its 200-day moving average is $13.29.

Navient (NASDAQ:NAVI - Get Free Report) last issued its 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). The business had revenue of $156.00 million during the quarter, compared to analyst estimates of $156.20 million. Navient had a net margin of 0.89% and a return on equity of 4.08%. During the same quarter in the prior year, the company earned $0.29 EPS. Equities research analysts expect that Navient Corporation will post 1.04 EPS for the current fiscal year.

Navient Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.64 annualized dividend and a dividend yield of 4.9%. Navient's payout ratio is presently 206.45%.

About Navient

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.