Northern Trust Corp Has $18.92 Million Stock Position in Navient Corporation $NAVI

Northern Trust Corp lessened its stake in Navient Corporation (NASDAQ:NAVI - Free Report) by 4.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,497,941 shares of the credit services provider's stock after selling 69,525 shares during the period. Northern Trust Corp owned about 1.48% of Navient worth $18,919,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. American Century Companies Inc. raised its position in Navient by 7.3% in the first quarter. American Century Companies Inc. now owns 1,954,896 shares of the credit services provider's stock worth $24,690,000 after purchasing an additional 132,313 shares in the last quarter. 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 purchasing an additional 353,898 shares in the last quarter. Wellington Management Group LLP raised its position in Navient by 47.4% in the fourth quarter. Wellington Management Group LLP now owns 1,315,841 shares of the credit services provider's stock worth $17,488,000 after purchasing an additional 423,013 shares in the last quarter. Bridgeway Capital Management LLC raised its position in Navient by 2.5% in the fourth quarter. Bridgeway Capital Management LLC now owns 917,232 shares of the credit services provider's stock worth $12,190,000 after purchasing an additional 22,765 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. raised its position in Navient by 46.0% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 725,244 shares of the credit services provider's stock worth $9,638,000 after purchasing an additional 228,385 shares in the last quarter. Institutional investors and hedge funds own 97.14% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Morgan Stanley dropped their price objective on shares of Navient from $15.00 to $14.00 and set an "equal weight" rating for the company in a report on Thursday, July 31st. JPMorgan Chase & Co. raised 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 dropped their price objective on shares of Navient from $16.50 to $15.00 and set a "market perform" rating for the company in a report on Thursday, July 31st. Finally, Bank of America lowered shares of Navient from a "neutral" rating to an "underperform" rating and set a $12.00 price objective for the company. in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Reduce" and a consensus price target of $13.06.

Navient Trading Up 1.0%

Shares of NASDAQ NAVI traded up $0.13 during midday trading on Thursday, reaching $13.77. 1,632,807 shares of the stock were exchanged, compared to its average volume of 812,428. The business has a 50-day simple moving average of $13.79 and a two-hundred day simple moving average of $13.29. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 44.42 and a beta of 1.35. Navient Corporation has a 12 month low of $10.53 and a 12 month high of $16.44. The company has a debt-to-equity ratio of 16.52, a current ratio of 9.94 and a quick ratio of 9.94.

Navient (NASDAQ:NAVI - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The credit services provider reported $0.21 EPS for the quarter, missing analysts' consensus estimates of $0.27 by ($0.06). Navient had a return on equity of 4.08% and a net margin of 0.89%.The company had revenue of $156.00 million for the quarter, compared to analyst estimates of $156.20 million. During the same quarter in the previous year, the business earned $0.29 earnings per share. Navient has set its FY 2025 guidance at 0.950-1.050 EPS. As a group, equities research analysts expect that Navient Corporation will post 1.04 EPS for the current year.

Navient Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.64 dividend on an annualized basis and a yield of 4.6%. Navient's payout ratio is currently 206.45%.

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.