Empowered Funds LLC Has $5.14 Million Stock Holdings 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 lessened its stake in shares of Navient Corporation (NASDAQ:NAVI - Free Report) by 13.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 406,715 shares of the credit services provider's stock after selling 60,517 shares during the period. Empowered Funds LLC owned 0.40% of Navient worth $5,137,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quantbot Technologies LP acquired a new position in shares of Navient during the first quarter worth approximately $40,000. New Age Alpha Advisors LLC bought a new position in shares of Navient during the first quarter valued at $71,000. Covestor Ltd lifted its holdings in Navient by 15.7% during the 1st quarter. Covestor Ltd now owns 7,303 shares of the credit services provider's stock valued at $92,000 after purchasing an additional 993 shares during the last quarter. GAMMA Investing LLC grew its position in Navient by 2,663.1% during the 1st 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. acquired a new position in Navient in the first quarter worth $129,000. 97.14% of the stock is owned by institutional investors and hedge funds.

Navient Stock Up 1.7%

Shares of NASDAQ NAVI traded up $0.22 during mid-day trading on Monday, reaching $13.09. 846,830 shares of the company's stock were exchanged, compared to its average volume of 809,446. 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 twelve month low of $10.53 and a twelve month high of $16.44. The business has a fifty day simple moving average of $13.64 and a 200 day simple moving average of $13.24. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 42.23 and a beta of 1.35.

Navient (NASDAQ:NAVI - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The credit services provider reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.06). The company had revenue of $156.00 million for the quarter, compared to the consensus estimate of $156.20 million. Navient had a return on equity of 4.08% and a net margin of 0.89%.During the same period in the prior year, the company earned $0.29 EPS. 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 EPS for the current fiscal year.

Navient Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have commented on NAVI. JPMorgan Chase & Co. increased their price objective on shares of Navient from $12.50 to $15.50 and gave the stock a "neutral" rating in a report on Friday, July 11th. Keefe, Bruyette & Woods decreased their price target on Navient from $16.50 to $15.00 and set a "market perform" rating on the stock in a report on Thursday, July 31st. Bank of America cut Navient from a "neutral" rating to an "underperform" rating and set a $12.00 price objective for the company. in a report on Thursday, September 4th. Finally, Morgan Stanley reduced their target price 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. One analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Reduce" and a consensus target price of $13.06.

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.