Wellington Management Group LLP Has $17.49 Million Stake in Navient Co. (NASDAQ:NAVI)

Wellington Management Group LLP boosted its position in Navient Co. (NASDAQ:NAVI - Free Report) by 47.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,315,841 shares of the credit services provider's stock after acquiring an additional 423,013 shares during the quarter. Wellington Management Group LLP owned 1.29% of Navient worth $17,488,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Sterling Capital Management LLC increased its stake in Navient by 815.0% in the fourth quarter. Sterling Capital Management LLC now owns 2,443 shares of the credit services provider's stock valued at $32,000 after acquiring an additional 2,176 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Navient during the fourth quarter worth $167,000. Brevan Howard Capital Management LP grew its stake in shares of Navient by 16.3% during the fourth quarter. Brevan Howard Capital Management LP now owns 12,877 shares of the credit services provider's stock worth $171,000 after buying an additional 1,804 shares during the last quarter. Twinbeech Capital LP bought a new stake in shares of Navient during the fourth quarter worth $173,000. Finally, Mackenzie Financial Corp bought a new stake in shares of Navient during the fourth quarter worth $176,000. 97.14% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NAVI has been the topic of a number of research reports. TD Securities boosted their target price on shares of Navient from $11.00 to $12.00 and gave the stock a "sell" rating in a research note on Thursday, May 1st. Keefe, Bruyette & Woods decreased their target price on shares of Navient from $16.00 to $14.00 and set a "market perform" rating on the stock in a research note on Monday, March 31st. JPMorgan Chase & Co. boosted their target price on shares of Navient from $11.00 to $12.50 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. Jefferies Financial Group decreased their target price on shares of Navient from $14.00 to $12.00 and set a "hold" rating on the stock in a research note on Monday, April 21st. Finally, TD Cowen cut shares of Navient from a "hold" rating to a "strong sell" rating in a research note on Thursday, May 1st. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Navient presently has an average rating of "Hold" and an average price target of $12.93.

Navient Stock Performance

Shares of NASDAQ:NAVI remained flat at $13.56 during mid-day trading on Thursday. 426,461 shares of the stock were exchanged, compared to its average volume of 754,146. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of 11.69 and a beta of 1.38. The firm's fifty day simple moving average is $12.51 and its two-hundred day simple moving average is $13.46. The company has a quick ratio of 9.49, a current ratio of 9.48 and a debt-to-equity ratio of 16.35. Navient Co. has a 52 week low of $10.53 and a 52 week high of $16.97.

Navient (NASDAQ:NAVI - Get Free Report) last released its 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. The business had revenue of $156.00 million for the quarter, compared to analyst estimates of $150.40 million. Navient had a net margin of 2.96% and a return on equity of 6.69%. During the same quarter in the previous year, the business earned $0.47 earnings per share. Analysts predict that Navient Co. will post 1.04 EPS for the current fiscal year.

Navient Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be issued a $0.16 dividend. The ex-dividend date is Friday, June 6th. This represents a $0.64 annualized dividend and a yield of 4.72%. Navient's payout ratio is 128.00%.

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.