Northern Trust Corp Has $20.83 Million Stake in Navient Co. (NASDAQ:NAVI)

Northern Trust Corp boosted its holdings in shares of Navient Co. (NASDAQ:NAVI - Free Report) by 14.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,567,466 shares of the credit services provider's stock after acquiring an additional 199,937 shares during the period. Northern Trust Corp owned approximately 1.46% of Navient worth $20,832,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NAVI. Barclays PLC lifted its holdings in Navient by 59.0% during the third quarter. Barclays PLC now owns 284,130 shares of the credit services provider's stock worth $4,429,000 after acquiring an additional 105,454 shares in the last quarter. Wedge Capital Management L L P NC lifted its holdings in Navient by 4.8% during the fourth quarter. Wedge Capital Management L L P NC now owns 47,774 shares of the credit services provider's stock worth $635,000 after acquiring an additional 2,190 shares in the last quarter. EMC Capital Management lifted its holdings in Navient by 2,193.7% during the fourth quarter. EMC Capital Management now owns 20,276 shares of the credit services provider's stock worth $269,000 after acquiring an additional 19,392 shares in the last quarter. Empowered Funds LLC lifted its holdings in Navient by 5.1% during the fourth quarter. Empowered Funds LLC now owns 467,232 shares of the credit services provider's stock worth $6,210,000 after acquiring an additional 22,765 shares in the last quarter. Finally, Entropy Technologies LP lifted its holdings in Navient by 46.2% during the fourth quarter. Entropy Technologies LP now owns 21,526 shares of the credit services provider's stock worth $286,000 after acquiring an additional 6,800 shares in the last quarter. 97.14% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on NAVI. JPMorgan Chase & Co. boosted their price target on Navient from $11.00 to $12.50 and gave the company a "neutral" rating in a report on Thursday, May 1st. TD Securities boosted their price target on Navient from $11.00 to $12.00 and gave the company a "sell" rating in a report on Thursday, May 1st. TD Cowen lowered Navient from a "hold" rating to a "strong sell" rating in a report on Thursday, May 1st. Jefferies Financial Group cut their price target on Navient from $14.00 to $12.00 and set a "hold" rating on the stock in a report on Monday, April 21st. Finally, Keefe, Bruyette & Woods cut their price target on Navient from $16.00 to $14.00 and set a "market perform" rating on the stock in a report on Monday, March 31st. 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 stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $12.93.

Navient Stock Down 0.9%

NAVI traded down $0.12 on Friday, hitting $13.76. 545,552 shares of the company were exchanged, compared to its average volume of 772,214. Navient Co. has a 12 month low of $10.53 and a 12 month high of $16.97. The company has a market cap of $1.39 billion, a PE ratio of 11.86 and a beta of 1.38. The company has a debt-to-equity ratio of 16.35, a quick ratio of 9.49 and a current ratio of 9.48. The stock's fifty day moving average is $12.44 and its 200-day moving average is $13.59.

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, topping the consensus estimate of $0.19 by $0.09. Navient had a return on equity of 6.69% and a net margin of 2.96%. The business had revenue of $156.00 million for the quarter, compared to analyst estimates of $150.40 million. During the same quarter in the prior year, the company posted $0.47 earnings per share. Equities research analysts predict that Navient Co. will post 1.04 EPS for the current fiscal year.

Navient Announces Dividend

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

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.