Wellington Management Group LLP Boosts Stock Position in Navient Corporation $NAVI

Key Points

• Wellington Management Group LLP has increased its stake in Navient Corporation by 10.9%, owning approximately 1.44% of the company after acquiring an additional 143,325 shares.
• Navient recently reported a quarterly earnings miss, with $0.21 EPS compared to the consensus estimate of $0.27, and has projected an FY 2025 guidance of 0.950-1.050 EPS.
• The company declared a quarterly dividend of $0.16 per share, with a dividend yield of 4.7% and a payout ratio of 206.45%.

Wellington Management Group LLP lifted its stake in Navient Corporation (NASDAQ:NAVI - Free Report) by 10.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,459,166 shares of the credit services provider's stock after buying an additional 143,325 shares during the quarter. Wellington Management Group LLP owned approximately 1.44% of Navient worth $18,429,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Navient by 1.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,052 shares of the credit services provider's stock worth $585,000 after buying an additional 823 shares during the last quarter. Neuberger Berman Group LLC boosted its stake in shares of Navient by 5.6% in the first quarter. Neuberger Berman Group LLC now owns 18,100 shares of the credit services provider's stock worth $229,000 after buying an additional 962 shares during the last quarter. Covestor Ltd raised its holdings in Navient by 15.7% in the 1st quarter. Covestor Ltd now owns 7,303 shares of the credit services provider's stock worth $92,000 after purchasing an additional 993 shares during the period. Brevan Howard Capital Management LP raised its holdings in Navient by 16.3% in the 4th quarter. Brevan Howard Capital Management LP now owns 12,877 shares of the credit services provider's stock worth $171,000 after purchasing an additional 1,804 shares during the period. Finally, Harbor Capital Advisors Inc. raised 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 worth $134,000 after purchasing an additional 3,802 shares during the period. Hedge funds and other institutional investors own 97.14% of the company's stock.

Navient Price Performance

Shares of Navient stock traded up $0.07 during mid-day trading on Thursday, reaching $13.66. 472,888 shares of the stock traded hands, compared to its average volume of 845,276. The business has a 50-day moving average of $13.80 and a 200 day moving average of $13.28. Navient Corporation has a fifty-two week low of $10.53 and a fifty-two week high of $16.97. The stock has a market capitalization of $1.36 billion, a PE ratio of 44.07 and a beta of 1.37. The company has a quick ratio of 9.94, a current ratio of 9.94 and a debt-to-equity ratio of 16.52.

Navient (NASDAQ:NAVI - Get Free Report) last announced its 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 net margin of 0.89% and a return on equity of 4.08%. The firm had revenue of $156.00 million for the quarter, compared to analyst estimates of $156.20 million. During the same period in the previous year, the company earned $0.29 EPS. Navient has set its FY 2025 guidance at 0.950-1.050 EPS. On average, analysts predict that Navient Corporation will post 1.04 EPS for the current year.

Navient Announces Dividend

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

Analysts Set New Price Targets

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

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.