Squarepoint Ops LLC grew its holdings in shares of Navient Corporation (NASDAQ:NAVI – Free Report) by 145.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 939,099 shares of the credit services provider’s stock after buying an additional 557,141 shares during the period. Squarepoint Ops LLC’s holdings in Navient were worth $7,992,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of Navient in the 2nd quarter worth about $110,235,000. Bank of America Corp DE purchased a new stake in Navient in the second quarter worth about $11,989,000. Wellington Management Group LLP grew its holdings in Navient by 41.5% in the second quarter. Wellington Management Group LLP now owns 1,939,380 shares of the credit services provider’s stock worth $16,504,000 after purchasing an additional 568,590 shares during the period. Orbis Allan Gray Ltd increased its stake in shares of Navient by 23.2% during the second quarter. Orbis Allan Gray Ltd now owns 2,848,718 shares of the credit services provider’s stock valued at $40,167,000 after purchasing an additional 536,933 shares in the last quarter. Finally, PDT Partners LLC purchased a new position in shares of Navient during the second quarter valued at approximately $4,435,000. 97.14% of the stock is owned by hedge funds and other institutional investors.
Navient Stock Down 1.4%
Shares of Navient stock opened at $9.15 on Friday. The company has a 50-day simple moving average of $8.92 and a two-hundred day simple moving average of $8.57. The stock has a market capitalization of $858.09 million, a PE ratio of -18.30 and a beta of 1.18. Navient Corporation has a 52-week low of $7.33 and a 52-week high of $13.50. The company has a debt-to-equity ratio of 16.73, a quick ratio of 10.53 and a current ratio of 10.53.
Navient Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 7.0%. The ex-dividend date is Friday, September 4th. Navient’s dividend payout ratio (DPR) is currently -128.00%.
Wall Street Analyst Weigh In
A number of analysts have recently commented on the company. JPMorgan Chase & Co. dropped their price target on Navient from $9.50 to $8.00 and set a “neutral” rating on the stock in a research report on Monday, July 13th. TD Cowen reiterated a “sell” rating on shares of Navient in a research note on Friday, August 7th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Navient in a report on Wednesday, June 24th. Five research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $9.14.
Get Our Latest Analysis on Navient
Navient Company Profile
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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