Tower Research Capital LLC TRC Sells 18,317 Shares of Navient Co. (NASDAQ:NAVI)

Tower Research Capital LLC TRC trimmed its holdings in Navient Co. (NASDAQ:NAVI - Free Report) by 84.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,455 shares of the credit services provider's stock after selling 18,317 shares during the period. Tower Research Capital LLC TRC's holdings in Navient were worth $46,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. American Century Companies Inc. grew its stake in 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 valued at $24,222,000 after buying an additional 109,229 shares in the last quarter. Wellington Management Group LLP grew its stake in Navient by 47.4% in the 4th 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 in the last quarter. Bank of New York Mellon Corp grew its stake in Navient by 0.9% in the 4th quarter. Bank of New York Mellon Corp now owns 1,149,599 shares of the credit services provider's stock valued at $15,278,000 after buying an additional 10,788 shares in the last quarter. Marshall Wace LLP grew its stake in Navient by 1,043.8% in the 4th quarter. Marshall Wace LLP now owns 635,466 shares of the credit services provider's stock valued at $8,445,000 after buying an additional 579,909 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in Navient by 51.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 555,634 shares of the credit services provider's stock valued at $7,384,000 after buying an additional 188,399 shares in the last quarter. 97.14% of the stock is currently owned by hedge funds and other institutional investors.

Navient Stock Performance

NASDAQ NAVI opened at $13.78 on Wednesday. Navient Co. has a 52-week low of $10.53 and a 52-week high of $16.97. 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 company has a market capitalization of $1.39 billion, a P/E ratio of 11.88 and a beta of 1.38. The company has a fifty day moving average of $12.44 and a 200-day moving average of $13.62.

Navient (NASDAQ:NAVI - Get Free Report) last posted 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 net margin of 2.96% and a return on equity of 6.69%. The company had revenue of $156.00 million during the quarter, compared to the consensus estimate of $150.40 million. During the same period in the previous year, the firm posted $0.47 EPS. As a group, 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 paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 4.64%. The ex-dividend date of this dividend is Friday, June 6th. Navient's dividend payout ratio is presently 128.00%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Navient from $11.00 to $12.50 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Jefferies Financial Group reduced their price objective on shares of Navient from $14.00 to $12.00 and set a "hold" rating for the company in a research note on Monday, April 21st. Seaport Res Ptn upgraded shares of Navient from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 21st. TD Cowen lowered shares of Navient from a "hold" rating to a "strong sell" rating in a research report on Thursday, May 1st. Finally, TD Securities boosted their price target on shares of Navient from $11.00 to $12.00 and gave the company a "sell" rating in a research report 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 given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $12.93.

Navient Company 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.

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