Geode Capital Management LLC Sells 41,966 Shares of Navient Co. (NASDAQ:NAVI)

Geode Capital Management LLC lowered its stake in shares of Navient Co. (NASDAQ:NAVI - Free Report) by 2.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 1,856,960 shares of the credit services provider's stock after selling 41,966 shares during the period. Geode Capital Management LLC owned approximately 1.73% of Navient worth $24,685,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its position in shares of Navient by 47.4% during 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 purchasing an additional 423,013 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Navient by 143.0% in the fourth quarter. JPMorgan Chase & Co. now owns 356,405 shares of the credit services provider's stock valued at $4,737,000 after acquiring an additional 209,744 shares in the last quarter. Prescott Group Capital Management L.L.C. purchased a new stake in shares of Navient during the fourth quarter valued at approximately $2,525,000. Arrowstreet Capital Limited Partnership lifted its holdings in Navient by 51.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 555,634 shares of the credit services provider's stock worth $7,384,000 after acquiring an additional 188,399 shares during the period. Finally, Edgestream Partners L.P. boosted its position in Navient by 156.5% in the fourth quarter. Edgestream Partners L.P. now owns 247,650 shares of the credit services provider's stock worth $3,291,000 after purchasing an additional 151,086 shares during the last quarter. 97.14% of the stock is owned by institutional investors.

Navient Stock Performance

NAVI traded up $0.18 on Thursday, hitting $11.77. The company's stock had a trading volume of 56,621 shares, compared to its average volume of 780,823. The company's 50 day simple moving average is $12.78 and its 200-day simple moving average is $13.90. The company has a quick ratio of 9.49, a current ratio of 9.48 and a debt-to-equity ratio of 16.35. Navient Co. has a 12 month low of $10.53 and a 12 month high of $16.97. The firm has a market cap of $1.19 billion, a P/E ratio of 10.13 and a beta of 1.24.

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

Navient Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were given a $0.16 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 5.44%. Navient's dividend payout ratio (DPR) is currently 55.17%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NAVI. JPMorgan Chase & Co. lowered their target price on Navient from $13.50 to $11.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods dropped their target price on shares of Navient from $16.00 to $14.00 and set a "market perform" rating on the stock in a research note on Monday, March 31st. StockNews.com downgraded shares of Navient from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. Seaport Res Ptn raised shares of Navient from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 21st. Finally, Jefferies Financial Group reduced their price objective on Navient from $14.00 to $12.00 and set a "hold" rating for the company in a report on Monday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $12.83.

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.