Arrowstreet Capital Limited Partnership Has $7.38 Million Position in Navient Co. (NASDAQ:NAVI)

Arrowstreet Capital Limited Partnership boosted its stake in shares of Navient Co. (NASDAQ:NAVI - Free Report) by 51.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 555,634 shares of the credit services provider's stock after acquiring an additional 188,399 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.52% of Navient worth $7,384,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NAVI. Charles Schwab Investment Management Inc. increased its position 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 worth $17,028,000 after purchasing an additional 19,606 shares in the last quarter. Cerity Partners LLC grew its stake in Navient by 82.7% during the third quarter. Cerity Partners LLC now owns 38,323 shares of the credit services provider's stock worth $597,000 after buying an additional 17,349 shares during the last quarter. Verition Fund Management LLC increased its holdings in shares of Navient by 137.2% during the third quarter. Verition Fund Management LLC now owns 33,653 shares of the credit services provider's stock worth $525,000 after buying an additional 19,465 shares in the last quarter. Paloma Partners Management Co bought a new position in shares of Navient in the third quarter valued at approximately $174,000. Finally, Quantinno Capital Management LP boosted its holdings in shares of Navient by 12.6% in the 3rd quarter. Quantinno Capital Management LP now owns 14,173 shares of the credit services provider's stock worth $221,000 after acquiring an additional 1,587 shares in the last quarter. 97.14% of the stock is owned by institutional investors.

Navient Trading Down 3.6 %

Navient stock traded down $0.41 during trading hours on Friday, reaching $11.01. 594,582 shares of the company's stock traded hands, compared to its average volume of 795,212. Navient Co. has a fifty-two week low of $10.53 and a fifty-two week high of $16.97. The firm's 50 day moving average is $13.16 and its 200-day moving average is $14.12. 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 firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 9.49 and a beta of 1.24.

Navient (NASDAQ:NAVI - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The credit services provider reported $0.25 earnings per share 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, analysts predict that Navient Co. will post 1.04 earnings per share for the current year.

Navient Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were issued a $0.16 dividend. The ex-dividend date was Friday, March 7th. This represents a $0.64 dividend on an annualized basis and a yield of 5.81%. Navient's dividend payout ratio is presently 55.17%.

Wall Street Analyst Weigh In

NAVI has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price target on Navient from $13.50 to $11.00 and set a "neutral" rating for the company in a report on Tuesday. Bank of America lowered their target price on Navient from $17.00 to $16.00 and set a "neutral" rating for the company in a research note on Tuesday, December 24th. TD Cowen upgraded shares of Navient from a "strong sell" rating to a "hold" rating in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods decreased their price objective on shares of Navient from $16.00 to $14.00 and set a "market perform" rating on the stock in a report on Monday, March 31st. Finally, StockNews.com downgraded shares of Navient from a "buy" rating to a "hold" rating in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $13.00.

Navient 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.