Navient Co. (NASDAQ:NAVI) Shares Purchased by Wellington Management Group LLP

Wellington Management Group LLP boosted its position in Navient Co. (NASDAQ:NAVI) by 15.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 343,761 shares of the credit services provider’s stock after acquiring an additional 46,230 shares during the period. Wellington Management Group LLP owned about 0.30% of Navient worth $6,401,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its stake in Navient by 13.1% in the third quarter. PNC Financial Services Group Inc. now owns 5,236 shares of the credit services provider’s stock valued at $90,000 after purchasing an additional 607 shares during the last quarter. Meritage Portfolio Management lifted its holdings in shares of Navient by 5.6% during the 4th quarter. Meritage Portfolio Management now owns 31,279 shares of the credit services provider’s stock worth $582,000 after acquiring an additional 1,667 shares during the period. QRG Capital Management Inc. lifted its holdings in shares of Navient by 15.4% during the 4th quarter. QRG Capital Management Inc. now owns 16,545 shares of the credit services provider’s stock worth $308,000 after acquiring an additional 2,206 shares during the period. Algert Global LLC boosted its position in shares of Navient by 21.7% in the third quarter. Algert Global LLC now owns 17,074 shares of the credit services provider’s stock worth $294,000 after acquiring an additional 3,040 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky grew its holdings in Navient by 11.8% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 30,418 shares of the credit services provider’s stock valued at $523,000 after purchasing an additional 3,200 shares during the period. Hedge funds and other institutional investors own 97.14% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on NAVI shares. Barclays cut their price target on shares of Navient from $13.00 to $11.00 and set an “underweight” rating on the stock in a research note on Thursday, April 25th. TD Cowen reduced their target price on Navient from $14.00 to $13.00 and set a “sell” rating on the stock in a report on Friday, April 26th. JPMorgan Chase & Co. dropped their price target on Navient from $17.00 to $16.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Finally, Keefe, Bruyette & Woods cut their price objective on Navient from $19.00 to $17.00 and set a “market perform” rating on the stock in a report on Thursday, April 25th. Three research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $16.10.

Navient Stock Up 2.5 %

NASDAQ NAVI opened at $14.56 on Friday. The company has a quick ratio of 12.52, a current ratio of 12.52 and a debt-to-equity ratio of 18.38. Navient Co. has a fifty-two week low of $13.96 and a fifty-two week high of $19.69. The business has a 50 day moving average price of $15.06 and a two-hundred day moving average price of $16.43. The stock has a market cap of $1.63 billion, a PE ratio of 9.33 and a beta of 1.40.

Navient (NASDAQ:NAVI) last released its quarterly earnings results on Wednesday, April 24th. The credit services provider reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. Navient had a net margin of 3.93% and a return on equity of 12.09%. The business had revenue of $163.00 million during the quarter, compared to analyst estimates of $188.04 million. As a group, sell-side analysts predict that Navient Co. will post 1.66 EPS for the current fiscal year.

Navient Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 4.40%. The ex-dividend date of this dividend was Friday, June 7th. Navient’s dividend payout ratio (DPR) is 41.03%.

Insider Activity at Navient

In other Navient news, EVP Mark L. Heleen sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $16.00, for a total value of $160,000.00. Following the transaction, the executive vice president now directly owns 393,611 shares of the company’s stock, valued at approximately $6,297,776. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 27.99% of the stock is currently owned by company insiders.

About Navient

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.