Lighthouse Investment Partners LLC Purchases Shares of 279,658 Navient Co. (NASDAQ:NAVI)

Lighthouse Investment Partners LLC purchased a new position in shares of Navient Co. (NASDAQ:NAVI - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 279,658 shares of the credit services provider's stock, valued at approximately $3,717,000. Lighthouse Investment Partners LLC owned 0.26% of Navient at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of NAVI. American Century Companies Inc. boosted its holdings in shares of Navient by 6.4% in the 4th quarter. American Century Companies Inc. now owns 1,822,583 shares of the credit services provider's stock worth $24,222,000 after buying an additional 109,229 shares during the last quarter. Northern Trust Corp raised its position in Navient by 14.6% in the fourth quarter. Northern Trust Corp now owns 1,567,466 shares of the credit services provider's stock worth $20,832,000 after acquiring an additional 199,937 shares during the period. Wellington Management Group LLP boosted its stake in Navient by 47.4% in the fourth quarter. Wellington Management Group LLP now owns 1,315,841 shares of the credit services provider's stock valued at $17,488,000 after acquiring an additional 423,013 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Navient by 0.9% during the 4th quarter. Bank of New York Mellon Corp now owns 1,149,599 shares of the credit services provider's stock worth $15,278,000 after purchasing an additional 10,788 shares during the last quarter. Finally, Bridgeway Capital Management LLC raised its holdings in shares of Navient by 2.5% in the 4th quarter. Bridgeway Capital Management LLC now owns 917,232 shares of the credit services provider's stock worth $12,190,000 after purchasing an additional 22,765 shares during the period. Hedge funds and other institutional investors own 97.14% of the company's stock.

Navient Price Performance

NASDAQ:NAVI traded down $0.12 during mid-day trading on Friday, hitting $13.76. 545,552 shares of the stock traded hands, compared to its average volume of 772,639. The business's 50-day moving average price is $12.43 and its 200 day moving average price is $13.61. The company has a quick ratio of 9.49, a current ratio of 9.48 and a debt-to-equity ratio of 16.35. The company has a market cap of $1.39 billion, a PE ratio of 11.86 and a beta of 1.38. Navient Co. has a 12-month low of $10.53 and a 12-month high of $16.97.

Navient (NASDAQ:NAVI - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The credit services provider reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.19 by $0.09. Navient had a return on equity of 6.69% and a net margin of 2.96%. The company had revenue of $156.00 million for the quarter, compared to the consensus estimate of $150.40 million. During the same quarter last year, the business posted $0.47 earnings per share. On average, analysts expect that Navient Co. will post 1.04 EPS for the current fiscal year.

Navient Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 4.65%. The ex-dividend date of this dividend is Friday, June 6th. Navient's dividend payout ratio (DPR) is 128.00%.

Analyst Ratings Changes

Several equities analysts have weighed in on NAVI shares. Keefe, Bruyette & Woods reduced their price objective on Navient from $16.00 to $14.00 and set a "market perform" rating for the company in a report on Monday, March 31st. StockNews.com downgraded shares of Navient from a "buy" rating to a "hold" rating in a report on Friday, January 31st. Jefferies Financial Group cut their target price 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. JPMorgan Chase & Co. boosted their price target on shares of Navient from $11.00 to $12.50 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Finally, TD Securities upped their price target on shares of Navient from $11.00 to $12.00 and gave the company a "sell" rating in a research note on Thursday, May 1st. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $12.93.

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.