American Century Companies Inc. Raises Stake in Navient Co. (NASDAQ:NAVI)

American Century Companies Inc. lifted its position in shares of Navient Co. (NASDAQ:NAVI - Free Report) by 6.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,822,583 shares of the credit services provider's stock after buying an additional 109,229 shares during the period. American Century Companies Inc. owned about 1.70% of Navient worth $24,222,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Bank of New York Mellon Corp raised its stake in shares of Navient by 0.9% during the fourth 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 acquiring an additional 10,788 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Navient by 1.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,092,270 shares of the credit services provider's stock valued at $17,028,000 after purchasing an additional 19,606 shares during the last quarter. Wellington Management Group LLP raised its position in Navient by 0.9% in the 3rd quarter. Wellington Management Group LLP now owns 892,828 shares of the credit services provider's stock worth $13,919,000 after purchasing an additional 8,117 shares during the period. Empowered Funds LLC lifted its stake in Navient by 5.1% in the fourth quarter. Empowered Funds LLC now owns 467,232 shares of the credit services provider's stock worth $6,210,000 after purchasing an additional 22,765 shares during the last quarter. Finally, Jupiter Asset Management Ltd. boosted its position in Navient by 43.1% during the fourth quarter. Jupiter Asset Management Ltd. now owns 395,948 shares of the credit services provider's stock valued at $5,262,000 after buying an additional 119,317 shares during the period. 97.14% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Analyst Upgrades and Downgrades

Several research analysts have recently commented on NAVI shares. Keefe, Bruyette & Woods decreased their price objective on Navient from $16.00 to $14.00 and set a "market perform" rating on the stock in a report on Monday. Seaport Res Ptn upgraded Navient from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 21st. StockNews.com cut shares of Navient from a "buy" rating to a "hold" rating in a report on Friday, January 31st. Bank of America lowered their price target on shares of Navient from $17.00 to $16.00 and set a "neutral" rating for the company in a report on Tuesday, December 24th. Finally, JPMorgan Chase & Co. cut their price target on shares of Navient from $15.00 to $13.50 and set a "neutral" rating on the stock in a report on Tuesday, January 14th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $13.50.

Navient Trading Down 0.1 %

NAVI stock traded down $0.01 on Tuesday, reaching $12.62. The company's stock had a trading volume of 537,373 shares, compared to its average volume of 782,602. 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 business has a fifty day simple moving average of $13.73 and a two-hundred day simple moving average of $14.42. The firm has a market cap of $1.29 billion, a PE ratio of 10.88 and a beta of 1.36. Navient Co. has a 12-month low of $12.36 and a 12-month high of $17.56.

Navient (NASDAQ:NAVI - Get Free Report) last announced its earnings results on Wednesday, January 29th. The credit services provider reported $0.25 earnings per share for the quarter, missing analysts' consensus estimates of $0.26 by ($0.01). Navient had a net margin of 2.96% and a return on equity of 6.69%. As a group, research analysts forecast that Navient Co. will post 1.04 EPS for the current year.

Navient Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 5.07%. The ex-dividend date was Friday, March 7th. Navient's dividend payout ratio is currently 55.17%.

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.