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

New York State Teachers Retirement System lowered its holdings in Navient Corporation (NASDAQ:NAVI - Free Report) by 15.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm 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 approximately 0.09% of Navient worth $1,191,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Harbor Capital Advisors Inc. boosted its holdings in Navient by 55.9% in the 1st quarter. Harbor Capital Advisors Inc. now owns 10,608 shares of the credit services provider's stock valued at $134,000 after purchasing an additional 3,802 shares during the period. Wedge Capital Management L L P NC boosted its holdings in Navient by 18.5% in the 1st quarter. Wedge Capital Management L L P NC now owns 56,612 shares of the credit services provider's stock valued at $715,000 after purchasing an additional 8,838 shares during the period. GAMMA Investing LLC boosted its holdings in Navient by 2,663.1% in the 1st quarter. GAMMA Investing LLC now owns 8,096 shares of the credit services provider's stock valued at $102,000 after purchasing an additional 7,803 shares during the period. Wellington Management Group LLP raised its position in shares of Navient by 47.4% in the 4th quarter. Wellington Management Group LLP now owns 1,315,841 shares of the credit services provider's stock valued at $17,488,000 after buying an additional 423,013 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Navient in the 4th quarter valued at approximately $3,182,000. Institutional investors own 97.14% of the company's stock.

Navient Trading Down 1.2%

NASDAQ NAVI traded down $0.19 on Friday, hitting $15.40. The company's stock had a trading volume of 96,413 shares, compared to its average volume of 765,437. The company has a quick ratio of 9.88, a current ratio of 9.88 and a debt-to-equity ratio of 16.56. Navient Corporation has a 1-year low of $10.53 and a 1-year high of $16.97. The company's 50-day moving average is $13.75 and its 200 day moving average is $13.32. The firm has a market cap of $1.56 billion, a PE ratio of 30.79 and a beta of 1.40.

Navient (NASDAQ:NAVI - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The credit services provider reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.09. Navient had a net margin of 1.37% and a return on equity of 5.20%. The firm had revenue of $156.00 million during the quarter, compared to analysts' expectations of $150.40 million. During the same period in the prior year, the company posted $0.47 EPS. As a group, analysts predict that Navient Corporation will post 1.04 earnings per share for the current fiscal year.

Navient Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date of this dividend was Friday, June 6th. Navient's dividend payout ratio is currently 128.00%.

Wall Street Analyst Weigh In

NAVI has been the subject of several analyst reports. TD Securities boosted their target price on shares of Navient from $11.00 to $12.00 and gave the company a "sell" rating in a research report on Thursday, May 1st. Keefe, Bruyette & Woods boosted 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 cut shares of Navient from a "hold" rating to a "strong sell" rating in a research report on Thursday, May 1st. Jefferies Financial Group lowered their price objective on shares of Navient from $14.00 to $12.00 and set a "hold" rating for the company in a research report on Monday, April 21st. Finally, JPMorgan Chase & Co. upped their price objective on shares of Navient from $11.00 to $12.50 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Navient has an average rating of "Hold" and a consensus target price of $13.29.

Navient 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.