Y Intercept Hong Kong Ltd bought a new position in shares of Navient Corporation (NASDAQ:NAVI - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 27,070 shares of the credit services provider's stock, valued at approximately $342,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Sterling Capital Management LLC grew its position in shares of 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 purchasing an additional 2,176 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Navient by 2,663.1% in the first 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 last quarter. Harbor Capital Advisors Inc. grew its position in shares of Navient by 55.9% in the first 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 last quarter. Teacher Retirement System of Texas acquired a new stake in shares of Navient in the first quarter valued at approximately $149,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Navient in the fourth quarter valued at approximately $167,000. Institutional investors and hedge funds own 97.14% of the company's stock.
Navient Stock Performance
Shares of NASDAQ NAVI traded down $0.28 during midday trading on Friday, hitting $12.66. 936,068 shares of the company's stock were exchanged, compared to its average volume of 1,126,263. The company has a debt-to-equity ratio of 16.52, a current ratio of 9.94 and a quick ratio of 9.88. The stock's 50 day moving average price is $13.99 and its 200-day moving average price is $13.42. The firm has a market cap of $1.28 billion, a P/E ratio of 40.84 and a beta of 1.37. Navient Corporation has a twelve month low of $10.53 and a twelve month high of $16.97.
Navient (NASDAQ:NAVI - Get Free Report) last posted 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 net margin of 0.89% and a return on equity of 4.08%. 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 prior year, the business earned $0.29 EPS. Equities research analysts anticipate that Navient Corporation will post 1.04 EPS for the current year.
Navient Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 5.1%. The ex-dividend date of this dividend was Friday, June 6th. Navient's payout ratio is 206.45%.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently weighed in on the stock. Morgan Stanley cut their price objective on shares of Navient from $15.00 to $14.00 and set an "equal weight" rating for the company in a research report on Thursday. JPMorgan Chase & Co. raised their price target on Navient from $12.50 to $15.50 and gave the stock a "neutral" rating in a research note on Friday, July 11th. TD Cowen lowered shares of Navient from a "hold" rating to a "strong sell" rating in a report on Thursday, May 1st. Jefferies Financial Group dropped their price target 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, Keefe, Bruyette & Woods reduced their price target 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. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $13.56.
Check Out Our Latest Research Report on NAVI
Navient Company Profile
(
Free Report)
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.
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