Empowered Funds LLC Has $5.14 Million Position in Navient Corporation $NAVI

Key Points

• Empowered Funds LLC reduced its stake in Navient Corporation by 13.0%, now owning 406,715 shares valued at approximately $5.14 million.
• Various institutional investors, including Bank of America and Janus Henderson Group, have adjusted their positions in Navient, with some increasing their stakes significantly.
• Analysts have set new price targets for Navient, with estimates ranging from $12.00 to $15.50, reflecting a bearish outlook as ratings have been lowered across several financial institutions.

Empowered Funds LLC reduced its holdings in Navient Corporation (NASDAQ:NAVI - Free Report) by 13.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 406,715 shares of the credit services provider's stock after selling 60,517 shares during the quarter. Empowered Funds LLC owned about 0.40% of Navient worth $5,137,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Caxton Associates LLP acquired a new stake in shares of Navient in the first quarter valued at about $1,725,000. Royal Bank of Canada grew its position in shares of Navient by 11.7% in the first quarter. Royal Bank of Canada now owns 98,366 shares of the credit services provider's stock valued at $1,243,000 after purchasing an additional 10,296 shares during the last quarter. Orbis Allan Gray Ltd grew its position in shares of Navient by 29.7% in the first quarter. Orbis Allan Gray Ltd now owns 2,311,785 shares of the credit services provider's stock valued at $29,198,000 after purchasing an additional 528,716 shares during the last quarter. Trexquant Investment LP acquired a new stake in shares of Navient in the first quarter valued at about $434,000. Finally, Hotchkis & Wiley Capital Management LLC grew its position in shares of Navient by 3.1% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 907,116 shares of the credit services provider's stock valued at $11,457,000 after purchasing an additional 27,340 shares during the last quarter. 97.14% of the stock is owned by institutional investors and hedge funds.

Navient Stock Up 1.6%

NAVI traded up $0.21 during trading on Wednesday, hitting $13.18. The company had a trading volume of 105,300 shares, compared to its average volume of 806,337. The company has a market capitalization of $1.31 billion, a PE ratio of 42.52 and a beta of 1.35. Navient Corporation has a one year low of $10.53 and a one year high of $16.44. The firm's 50-day moving average price is $13.54 and its 200 day moving average price is $13.23. The company has a quick ratio of 9.94, a current ratio of 9.94 and a debt-to-equity ratio of 16.52.

Navient (NASDAQ:NAVI - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The credit services provider reported $0.21 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.06). Navient had a net margin of 0.89% and a return on equity of 4.08%. The company 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 posted $0.29 earnings per share. Navient has set its FY 2025 guidance at 0.950-1.050 EPS. As a group, equities analysts expect that Navient Corporation will post 1.04 earnings per share for the current year.

Navient Announces Dividend

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 paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 4.9%. The ex-dividend date is Friday, September 5th. Navient's payout ratio is presently 206.45%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Bank of America downgraded Navient from a "neutral" rating to an "underperform" rating and set a $12.00 price target on the stock. in a research report on Thursday, September 4th. Morgan Stanley reduced their target price on shares of Navient from $15.00 to $14.00 and set an "equal weight" rating for the company in a research note on Thursday, July 31st. Keefe, Bruyette & Woods reduced their target price on shares of Navient from $16.50 to $15.00 and set a "market perform" rating for the company in a research note on Thursday, July 31st. Finally, JPMorgan Chase & Co. increased their target price on shares of Navient from $12.50 to $15.50 and gave the company a "neutral" rating in a research note on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Reduce" and a consensus target price 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.