Charles Schwab Investment Management Inc. increased its holdings in Navient Corporation (NASDAQ:NAVI – Free Report) by 20.2% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 2,484,742 shares of the credit services provider’s stock after acquiring an additional 418,161 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Navient were worth $32,302,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in Navient by 70.5% in the fourth quarter. GAMMA Investing LLC now owns 1,978 shares of the credit services provider’s stock worth $26,000 after acquiring an additional 818 shares during the period. CWM LLC grew its position in Navient by 79.0% in the third quarter. CWM LLC now owns 2,525 shares of the credit services provider’s stock worth $33,000 after acquiring an additional 1,114 shares during the period. PNC Financial Services Group Inc. grew its position in Navient by 39.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,228 shares of the credit services provider’s stock worth $55,000 after acquiring an additional 1,191 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in Navient by 3,045.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 5,127 shares of the credit services provider’s stock worth $67,000 after acquiring an additional 4,964 shares during the period. Finally, Covestor Ltd grew its position in Navient by 88.0% in the fourth quarter. Covestor Ltd now owns 5,754 shares of the credit services provider’s stock worth $75,000 after acquiring an additional 2,693 shares during the period. 97.14% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
NAVI has been the subject of several analyst reports. Zacks Research upgraded Navient from a “strong sell” rating to a “hold” rating in a research report on Monday, March 30th. TD Cowen raised their price target on Navient from $8.00 to $9.00 and gave the stock a “sell” rating in a research report on Thursday, April 30th. Barclays raised their price target on Navient from $7.00 to $8.00 and gave the stock an “underweight” rating in a research report on Thursday, April 30th. Bank of America initiated coverage on Navient in a research report on Monday, April 20th. They set an “underperform” rating and a $7.00 price target for the company. Finally, Morgan Stanley lowered their price target on Navient from $12.00 to $9.00 and set an “equal weight” rating for the company in a research report on Thursday, April 16th. Five analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Navient has a consensus rating of “Reduce” and a consensus target price of $9.29.
Navient Trading Up 0.1%
NAVI opened at $8.14 on Friday. Navient Corporation has a 52 week low of $7.80 and a 52 week high of $16.07. The business has a fifty day simple moving average of $8.42 and a 200-day simple moving average of $10.49. The firm has a market cap of $765.08 million, a P/E ratio of -12.92 and a beta of 1.24. The company has a quick ratio of 7.67, a current ratio of 7.67 and a debt-to-equity ratio of 16.49.
Navient (NASDAQ:NAVI – Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The credit services provider reported $0.20 EPS for the quarter, topping the consensus estimate of $0.17 by $0.03. Navient had a positive return on equity of 4.39% and a negative net margin of 1.94%.The business had revenue of $152.00 million during the quarter, compared to analyst estimates of $141.47 million. During the same period last year, the business posted $0.25 earnings per share. On average, equities analysts expect that Navient Corporation will post 0.71 earnings per share for the current year.
Navient Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Friday, March 6th were issued a $0.16 dividend. The ex-dividend date was Friday, March 6th. This represents a $0.64 dividend on an annualized basis and a yield of 7.9%. Navient’s dividend payout ratio (DPR) is -101.59%.
About Navient
Navient Corporation (NASDAQ: NAVI) is a specialized provider of asset management and business processing solutions, with a primary focus on student loan servicing. Established in 2014 through the separation from Sallie Mae, Navient assumed responsibility for servicing federal and private education loans, positioning itself as one of the largest servicers of higher education debt in the United States.
The company’s core activities center on federal student loan servicing under contracts with the U.S.
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