New York State Teachers Retirement System Sells 17,235 Shares of Navient Corporation (NASDAQ:NAVI)

New York State Teachers Retirement System trimmed its stake in Navient Corporation (NASDAQ:NAVI - Free Report) by 15.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 94,334 shares of the credit services provider's stock after selling 17,235 shares during the period. New York State Teachers Retirement System owned about 0.09% of Navient worth $1,191,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp increased its holdings in shares of Navient by 0.9% during the fourth quarter. Bank of New York Mellon Corp now owns 1,149,599 shares of the credit services provider's stock worth $15,278,000 after buying an additional 10,788 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Navient by 1.6% in the 4th quarter. Victory Capital Management Inc. now owns 311,259 shares of the credit services provider's stock valued at $4,137,000 after acquiring an additional 4,996 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Navient in the 4th quarter valued at about $167,000. Amundi lifted its stake in Navient by 186.4% in the 4th quarter. Amundi now owns 38,069 shares of the credit services provider's stock valued at $498,000 after purchasing an additional 24,779 shares during the last quarter. Finally, Jupiter Asset Management Ltd. boosted its position in Navient by 43.1% during the fourth quarter. Jupiter Asset Management Ltd. now owns 395,948 shares of the credit services provider's stock worth $5,262,000 after purchasing an additional 119,317 shares during the period. Institutional investors and hedge funds own 97.14% of the company's stock.

Navient Trading Up 2.6%

Shares of NASDAQ:NAVI traded up $0.39 during midday trading on Thursday, hitting $15.59. 903,710 shares of the stock traded hands, compared to its average volume of 767,031. Navient Corporation has a one year low of $10.53 and a one year high of $16.97. The business's 50 day moving average is $13.69 and its two-hundred day moving average is $13.31. The company has a quick ratio of 9.88, a current ratio of 9.88 and a debt-to-equity ratio of 16.56. The stock has a market capitalization of $1.58 billion, a PE ratio of 31.18 and a beta of 1.40.

Navient (NASDAQ:NAVI - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The credit services provider reported $0.28 earnings per share for the quarter, beating analysts' consensus estimates of $0.19 by $0.09. Navient had a net margin of 1.37% and a return on equity of 5.20%. The business had revenue of $156.00 million during the quarter, compared to analyst estimates of $150.40 million. During the same period last year, the business earned $0.47 EPS. As a group, research analysts forecast that Navient Corporation will post 1.04 earnings per share for the current year.

Navient Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date of this dividend was Friday, June 6th. Navient's dividend payout ratio is 128.00%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NAVI. JPMorgan Chase & Co. boosted their price target on Navient from $11.00 to $12.50 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Jefferies Financial Group dropped their price objective on shares of Navient from $14.00 to $12.00 and set a "hold" rating for the company in a report on Monday, April 21st. Keefe, Bruyette & Woods increased their target price on shares of Navient from $14.00 to $16.50 and gave the company a "market perform" rating in a research report on Wednesday. TD Cowen downgraded shares of Navient from a "hold" rating to a "strong sell" rating in a research report on Thursday, May 1st. Finally, TD Securities raised their target price on Navient from $11.00 to $12.00 and gave the stock a "sell" rating in a research note on Thursday, May 1st. Three research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $13.29.

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.