Vanguard Group Inc. Sells 267,974 Shares of Navient Corporation $NAVI

Key Points

• Vanguard Group Inc. has reduced its stake in Navient Corporation by 2.9% in the first quarter, now holding approximately 8.74% of the company, valued at $111.6 million.
• Navient reported earnings of $0.21 per share for the last quarter, missing analysts' expectations by $0.06, with a revenue of $156 million, just shy of the forecasted $156.2 million.
• The company announced a quarterly dividend of $0.16 per share, yielding 4.7%, with a payout ratio currently at 206.45%.

Vanguard Group Inc. lessened its holdings in Navient Corporation (NASDAQ:NAVI - Free Report) by 2.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,838,057 shares of the credit services provider's stock after selling 267,974 shares during the quarter. Vanguard Group Inc. owned 8.74% of Navient worth $111,625,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of NAVI. Wells Fargo & Company MN grew its position in Navient by 13.9% in the fourth quarter. Wells Fargo & Company MN now owns 74,148 shares of the credit services provider's stock valued at $985,000 after acquiring an additional 9,024 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Navient in the 4th quarter valued at approximately $167,000. Sterling Capital Management LLC grew its holdings in shares of Navient by 815.0% during the 4th quarter. Sterling Capital Management LLC now owns 2,443 shares of the credit services provider's stock valued at $32,000 after purchasing an additional 2,176 shares during the last quarter. Barclays PLC grew its holdings in shares of Navient by 26.5% during the 4th quarter. Barclays PLC now owns 359,365 shares of the credit services provider's stock valued at $4,776,000 after purchasing an additional 75,235 shares during the last quarter. Finally, First Trust Advisors LP increased its position in Navient by 5.3% during the 4th quarter. First Trust Advisors LP now owns 229,544 shares of the credit services provider's stock worth $3,051,000 after purchasing an additional 11,647 shares in the last quarter. Institutional investors and hedge funds own 97.14% of the company's stock.

Navient Trading Down 0.1%

Shares of NASDAQ:NAVI traded down $0.02 during midday trading on Monday, reaching $13.54. The company's stock had a trading volume of 477,957 shares, compared to its average volume of 949,696. Navient Corporation has a fifty-two week low of $10.53 and a fifty-two week high of $16.97. The company has a debt-to-equity ratio of 16.52, a quick ratio of 9.94 and a current ratio of 9.94. The firm has a 50 day moving average price of $13.78 and a two-hundred day moving average price of $13.28. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of 13.29 and a beta of 1.37.

Navient (NASDAQ:NAVI - Get Free Report) last posted its quarterly earnings results 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 during the quarter, compared to analyst estimates of $156.20 million. During the same quarter in the previous year, the business posted $0.29 earnings per share. Navient has set its FY 2025 guidance at 0.950-1.050 EPS. As a group, analysts forecast that Navient Corporation will post 1.04 earnings per share for the current year.

Navient Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.64 annualized dividend and a dividend yield of 4.7%. Navient's payout ratio is presently 206.45%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. TD Securities increased their price target on Navient from $11.00 to $12.00 and gave the company a "sell" rating in a research note on Thursday, May 1st. TD Cowen lowered Navient from a "hold" rating to a "strong sell" rating in a research note on Thursday, May 1st. Morgan Stanley lowered their price objective on Navient from $15.00 to $14.00 and set an "equal weight" rating for the company in a research note on Thursday, July 31st. JPMorgan Chase & Co. raised their price objective on shares of Navient from $12.50 to $15.50 and gave the company a "neutral" rating in a report on Friday, July 11th. Finally, Keefe, Bruyette & Woods cut their target price on shares of Navient from $16.50 to $15.00 and set a "market perform" rating on the stock in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Reduce" and an average price target of $13.56.

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.