Invesco Ltd. cut its stake in shares of Navient Co. (NASDAQ:NAVI - Free Report) by 8.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 777,589 shares of the credit services provider's stock after selling 70,439 shares during the period. Invesco Ltd. owned approximately 0.72% of Navient worth $10,334,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in Navient during the 4th quarter valued at approximately $167,000. AXQ Capital LP purchased a new position in Navient in the fourth quarter worth $196,000. Headlands Technologies LLC raised its position in Navient by 757.3% in the fourth quarter. Headlands Technologies LLC now owns 14,737 shares of the credit services provider's stock worth $196,000 after acquiring an additional 13,018 shares in the last quarter. Aigen Investment Management LP acquired a new stake in Navient in the fourth quarter valued at $258,000. Finally, EMC Capital Management boosted its position in shares of Navient by 2,193.7% during the 4th quarter. EMC Capital Management now owns 20,276 shares of the credit services provider's stock worth $269,000 after purchasing an additional 19,392 shares in the last quarter. 97.14% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
NAVI has been the topic of several research analyst reports. 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 report on Monday, April 21st. TD Cowen upgraded shares of Navient from a "strong sell" rating to a "hold" rating in a research report on Wednesday, April 2nd. StockNews.com lowered shares of Navient from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. 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 report on Monday, March 31st. Finally, Seaport Res Ptn upgraded shares of Navient from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, six have given a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $12.83.
Get Our Latest Research Report on NAVI
Navient Price Performance
Shares of NASDAQ:NAVI traded up $0.40 during midday trading on Monday, hitting $12.23. 904,756 shares of the stock were exchanged, compared to its average volume of 773,975. The stock has a market cap of $1.24 billion, a P/E ratio of 10.54 and a beta of 1.24. The company has a current ratio of 9.48, a quick ratio of 9.49 and a debt-to-equity ratio of 16.35. Navient Co. has a twelve month low of $10.53 and a twelve month high of $16.97. The company has a 50 day moving average price of $12.66 and a 200-day moving average price of $13.80.
Navient (NASDAQ:NAVI - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The credit services provider reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.01). Navient had a return on equity of 6.69% and a net margin of 2.96%. On average, research analysts forecast that Navient Co. will post 1.04 earnings per share for the current year.
Navient Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 5.23%. The ex-dividend date was Friday, March 7th. Navient's payout ratio is 55.17%.
Navient Company Profile
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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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