JPMorgan Chase & Co. grew its position in Navient Co. (NASDAQ:NAVI - Free Report) by 143.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 356,405 shares of the credit services provider's stock after buying an additional 209,744 shares during the quarter. JPMorgan Chase & Co. owned 0.33% of Navient worth $4,737,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the company. Prescott Group Capital Management L.L.C. bought a new position in shares of Navient in the 4th quarter valued at $2,525,000. Edgestream Partners L.P. grew its holdings in shares of Navient by 156.5% during 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. Jupiter Asset Management Ltd. increased its stake in shares of Navient by 43.1% in 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. American Century Companies Inc. raised its holdings 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 during the last quarter. Finally, Barclays PLC boosted its position in Navient by 59.0% during the 3rd quarter. Barclays PLC now owns 284,130 shares of the credit services provider's stock worth $4,429,000 after buying an additional 105,454 shares during the period. 97.14% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several research firms have recently issued reports on NAVI. Keefe, Bruyette & Woods dropped their price target on shares of Navient from $16.00 to $14.00 and set a "market perform" rating for the company in a research note on Monday, March 31st. JPMorgan Chase & Co. decreased their price objective on shares of Navient from $13.50 to $11.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. StockNews.com lowered shares of Navient from a "buy" rating to a "hold" rating in a report on Friday, January 31st. TD Cowen raised shares of Navient from a "strong sell" rating to a "hold" rating in a research report on Wednesday, April 2nd. Finally, Jefferies Financial Group lowered their price objective on Navient from $14.00 to $12.00 and set a "hold" rating for the company in a research report on Monday. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $12.83.
View Our Latest Stock Analysis on Navient
Navient Stock Up 1.5 %
Navient stock traded up $0.18 during mid-day trading on Thursday, reaching $11.77. The stock had a trading volume of 42,443 shares, compared to its average volume of 780,774. The firm has a market capitalization of $1.19 billion, a PE ratio of 10.13 and a beta of 1.24. Navient Co. has a fifty-two week low of $10.53 and a fifty-two week high of $16.97. The stock's 50-day simple moving average is $12.78 and its 200-day simple moving average is $13.90. The company has a debt-to-equity ratio of 16.35, a quick ratio of 9.49 and a current ratio of 9.48.
Navient (NASDAQ:NAVI - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The credit services provider reported $0.25 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.01). Navient had a net margin of 2.96% and a return on equity of 6.69%. On average, sell-side analysts forecast that Navient Co. will post 1.04 EPS for the current fiscal 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 issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.64 annualized dividend and a dividend yield of 5.44%. Navient's dividend payout ratio is 55.17%.
About Navient
(
Free Report)
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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