Rhumbline Advisers Grows Position in Navient Co. (NASDAQ:NAVI)

Rhumbline Advisers boosted its holdings in shares of Navient Co. (NASDAQ:NAVI - Free Report) by 5.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 343,341 shares of the credit services provider's stock after buying an additional 18,760 shares during the quarter. Rhumbline Advisers owned approximately 0.32% of Navient worth $4,563,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of NAVI. KBC Group NV increased its holdings in shares of Navient by 47.0% in the 3rd quarter. KBC Group NV now owns 4,355 shares of the credit services provider's stock valued at $68,000 after acquiring an additional 1,392 shares during the period. Harbor Capital Advisors Inc. purchased a new position in Navient in the third quarter valued at about $95,000. Covestor Ltd grew its stake in Navient by 24.6% in the third quarter. Covestor Ltd now owns 7,360 shares of the credit services provider's stock valued at $115,000 after purchasing an additional 1,455 shares during the last quarter. Paloma Partners Management Co bought a new position in Navient in the third quarter worth about $174,000. Finally, First Trust Direct Indexing L.P. lifted its position in shares of Navient by 12.0% during the third quarter. First Trust Direct Indexing L.P. now owns 13,942 shares of the credit services provider's stock valued at $217,000 after buying an additional 1,491 shares during the last quarter. Institutional investors own 97.14% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Bank of America cut their price objective on shares of Navient from $17.00 to $16.00 and set a "neutral" rating on the stock in a research report on Tuesday, December 24th. JPMorgan Chase & Co. reduced their price target on Navient from $15.00 to $13.50 and set a "neutral" rating on the stock in a research report on Tuesday, January 14th. Seaport Res Ptn raised Navient from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 21st. Finally, StockNews.com lowered Navient from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Navient presently has a consensus rating of "Hold" and an average price target of $13.90.

Remove Ads

Navient Stock Performance

Shares of NASDAQ:NAVI traded down $0.47 on Monday, hitting $13.85. 379,587 shares of the company were exchanged, compared to its average volume of 807,199. The firm has a market capitalization of $1.49 billion, a P/E ratio of 11.95 and a beta of 1.43. The company has a current ratio of 9.48, a quick ratio of 9.49 and a debt-to-equity ratio of 16.35. Navient Co. has a 1-year low of $12.73 and a 1-year high of $17.56. The stock's 50 day moving average price is $13.72 and its 200 day moving average price is $14.78.

Navient (NASDAQ:NAVI - Get Free Report) last issued its 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 net margin of 2.96% and a return on equity of 6.69%. Sell-side analysts predict that Navient Co. will post 1.04 EPS for the current year.

Navient Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Wednesday, May 7th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 4.62%. The ex-dividend date of this dividend is Friday, March 7th. Navient's payout ratio is 55.17%.

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.