Invesco Ltd. Cuts Stock Holdings in Navient Corporation $NAVI
Invesco Ltd. lowered its stake in shares of Navient Corporation (NASDAQ:NAVI – Free Report) by 12.1% during the first quarter, Holdings Channel reports. The fund owned 683,704 shares of the credit services provider’s stock after selling 93,885 shares during the period. Invesco Ltd.’s holdings in Navient were worth $8,635,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. New Age Alpha Advisors LLC purchased a new stake in shares of Navient during the first quarter worth $71,000. Covestor Ltd increased its position in shares of Navient by 15.7% during the first quarter. Covestor Ltd now owns 7,303 shares of the credit services provider’s stock worth $92,000 after acquiring an additional 993 shares during the period. GAMMA Investing LLC increased its position in shares of Navient by 2,663.1% during the first quarter. GAMMA Investing LLC now owns 8,096 shares of the credit services provider’s stock worth $102,000 after acquiring an additional 7,803 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Navient during the first quarter worth $129,000. Finally, Harbor Capital Advisors Inc. increased its position in shares of Navient by 55.9% during the first quarter. Harbor Capital Advisors Inc. now owns 10,608 shares of the credit services provider’s stock worth $134,000 after acquiring an additional 3,802 shares during the period. Hedge funds and other institutional investors own 97.14% of the company’s stock.
Analyst Ratings Changes
A number of research firms have recently weighed in on NAVI. Morgan Stanley cut their price objective on Navient from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 31st. JPMorgan Chase & Co. increased their target price on Navient from $12.50 to $15.50 and gave the company a “neutral” rating in a report on Friday, July 11th. TD Cowen lowered Navient from a “hold” rating to a “strong sell” rating in a report on Thursday, May 1st. TD Securities increased their target price on Navient from $11.00 to $12.00 and gave the company a “sell” rating in a report on Thursday, May 1st. Finally, Keefe, Bruyette & Woods dropped their target price on Navient from $16.50 to $15.00 and set a “market perform” rating on the stock in a report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $13.56.
Check Out Our Latest Analysis on Navient
Navient Stock Performance
NASDAQ NAVI opened at $13.54 on Tuesday. The company has a debt-to-equity ratio of 16.52, a current ratio of 9.94 and a quick ratio of 9.94. Navient Corporation has a 1 year low of $10.53 and a 1 year high of $16.97. The company has a market capitalization of $1.35 billion, a PE ratio of 43.68 and a beta of 1.37. The company has a fifty day moving average of $13.78 and a two-hundred day moving average of $13.28.
Navient (NASDAQ:NAVI – Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The credit services provider reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.06). Navient had a net margin of 0.89% and a return on equity of 4.08%. The company had revenue of $156.00 million during the quarter, compared to analyst estimates of $156.20 million. During the same quarter in the prior year, the company earned $0.29 EPS. Navient has set its FY 2025 guidance at 0.950-1.050 EPS. As a group, analysts expect that Navient Corporation will post 1.04 earnings per share for the current year.
Navient Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be paid a dividend of $0.16 per share. The ex-dividend date is Friday, September 5th. This represents a $0.64 annualized dividend and a dividend yield of 4.7%. Navient’s dividend payout ratio is 206.45%.
Navient Profile
(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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