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

Northern Trust Corp lifted its stake in Navient Co. (NASDAQ:NAVI - Free Report) by 14.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm 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 1.46% of Navient worth $20,832,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Jupiter Asset Management Ltd. raised its position in shares of Navient by 43.1% during the fourth quarter. Jupiter Asset Management Ltd. now owns 395,948 shares of the credit services provider's stock worth $5,262,000 after purchasing an additional 119,317 shares during the period. Aigen Investment Management LP acquired a new position in shares of Navient during the 4th quarter valued at about $258,000. JPMorgan Chase & Co. boosted its holdings in shares of Navient by 143.0% during the 4th quarter. JPMorgan Chase & Co. now owns 356,405 shares of the credit services provider's stock worth $4,737,000 after buying an additional 209,744 shares during the period. Dark Forest Capital Management LP acquired a new position in shares of Navient during the fourth quarter worth approximately $321,000. Finally, Wellington Management Group LLP lifted its stake in shares of 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 buying an additional 423,013 shares during the period. Institutional investors own 97.14% of the company's stock.

Wall Street Analysts Forecast Growth

NAVI has been the topic of several analyst reports. Jefferies Financial Group lowered their price objective on Navient from $14.00 to $12.00 and set a "hold" rating on the stock in a research note on Monday, April 21st. JPMorgan Chase & Co. boosted their price objective on Navient from $11.00 to $12.50 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Keefe, Bruyette & Woods reduced their target price on Navient from $16.00 to $14.00 and set a "market perform" rating on the stock in a report on Monday, March 31st. StockNews.com downgraded Navient from a "buy" rating to a "hold" rating in a research note on Friday, January 31st. Finally, TD Cowen downgraded shares of Navient from a "hold" rating to a "strong sell" rating in a research report on Thursday, May 1st. Three investment 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.com, Navient has an average rating of "Hold" and an average target price of $12.93.

Navient Price Performance

Shares of NASDAQ:NAVI traded down $0.12 during trading on Friday, hitting $13.76. 545,552 shares of the company were exchanged, compared to its average volume of 772,639. Navient Co. has a 1-year low of $10.53 and a 1-year high of $16.97. The company has a market capitalization of $1.39 billion, a P/E ratio of 11.86 and a beta of 1.38. 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 business's 50 day moving average is $12.43 and its 200-day moving average is $13.61.

Navient (NASDAQ:NAVI - Get Free Report) last issued its earnings results 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 business had revenue of $156.00 million during the quarter, compared to analysts' expectations of $150.40 million. During the same quarter in the prior year, the firm earned $0.47 EPS. Equities analysts forecast that Navient Co. will post 1.04 earnings per share for the current year.

Navient Dividend Announcement

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

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.