Arizona State Retirement System Has $342,000 Stock Holdings in Navient Co. (NASDAQ:NAVI)

Arizona State Retirement System lessened its holdings in Navient Co. (NASDAQ:NAVI) by 2.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,523 shares of the credit services provider’s stock after selling 710 shares during the period. Arizona State Retirement System’s holdings in Navient were worth $342,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Jupiter Asset Management Ltd. acquired a new stake in shares of Navient during the first quarter worth approximately $4,813,000. State Board of Administration of Florida Retirement System increased its holdings in shares of Navient by 178.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 73,578 shares of the credit services provider’s stock worth $1,177,000 after buying an additional 47,189 shares in the last quarter. Bridgeway Capital Management LLC increased its holdings in shares of Navient by 8.8% during the fourth quarter. Bridgeway Capital Management LLC now owns 811,826 shares of the credit services provider’s stock worth $15,116,000 after buying an additional 65,576 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Navient by 265.4% during the first quarter. BNP Paribas Financial Markets now owns 128,690 shares of the credit services provider’s stock valued at $2,239,000 after purchasing an additional 93,469 shares during the last quarter. Finally, Quest Partners LLC bought a new stake in shares of Navient during the fourth quarter valued at approximately $394,000. Institutional investors and hedge funds own 97.14% of the company’s stock.

Navient Price Performance

Shares of NAVI stock opened at $16.00 on Wednesday. Navient Co. has a 52-week low of $13.95 and a 52-week high of $19.68. The stock has a market cap of $1.79 billion, a PE ratio of 10.26 and a beta of 1.39. The company has a debt-to-equity ratio of 17.30, a quick ratio of 9.99 and a current ratio of 9.99. The firm’s 50 day moving average price is $15.51 and its two-hundred day moving average price is $15.59.

Navient (NASDAQ:NAVI) last announced its quarterly earnings data on Wednesday, July 24th. The credit services provider reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.14). Navient had a net margin of 3.41% and a return on equity of 11.06%. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $157.27 million. During the same period in the previous year, the business posted $0.70 earnings per share. As a group, analysts forecast that Navient Co. will post 1.43 EPS for the current year.

Navient Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.64 annualized dividend and a yield of 4.00%. Navient’s dividend payout ratio (DPR) is presently 41.03%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Keefe, Bruyette & Woods increased their price target on shares of Navient from $15.00 to $16.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. decreased their price target on shares of Navient from $16.00 to $15.00 and set a “neutral” rating on the stock in a research note on Monday, July 8th. Finally, Barclays decreased their price target on shares of Navient from $11.00 to $10.00 and set an “underweight” rating on the stock in a research note on Tuesday, July 9th. Three equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $15.56.

Navient Company 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.