Massachusetts Financial Services Co. MA Buys 4,095 Shares of Navient Co. (NASDAQ:NAVI)

Massachusetts Financial Services Co. MA boosted its position in shares of Navient Co. (NASDAQ:NAVI) by 3.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 122,024 shares of the credit services provider’s stock after purchasing an additional 4,095 shares during the period. Massachusetts Financial Services Co. MA owned about 0.11% of Navient worth $1,777,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of NAVI. Jupiter Asset Management Ltd. bought a new position in shares of Navient during the first quarter worth about $4,813,000. State Board of Administration of Florida Retirement System boosted its position in Navient by 178.8% during the 1st 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 acquiring an additional 47,189 shares during the last quarter. Bridgeway Capital Management LLC grew its stake in shares of Navient by 8.8% during the 4th quarter. Bridgeway Capital Management LLC now owns 811,826 shares of the credit services provider’s stock worth $15,116,000 after acquiring an additional 65,576 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Navient by 265.4% in 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 boosted its holdings in Navient by 102,163.1% during the second quarter. Quest Partners LLC now owns 85,901 shares of the credit services provider’s stock worth $1,251,000 after purchasing an additional 85,817 shares during the last quarter. Institutional investors and hedge funds own 97.14% of the company’s stock.

Analysts Set New Price Targets

NAVI has been the topic of several recent research reports. JPMorgan Chase & Co. lowered 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. Keefe, Bruyette & Woods lifted their target price on Navient from $15.00 to $16.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. Finally, Barclays dropped their target price on Navient from $11.00 to $10.00 and set an “underweight” rating on the stock in a report on Tuesday, July 9th. Three investment analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $15.56.

Navient Price Performance

NASDAQ:NAVI opened at $15.87 on Monday. Navient Co. has a 12-month low of $13.95 and a 12-month high of $19.68. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of 10.17 and a beta of 1.39. The stock’s 50 day moving average price is $15.60 and its two-hundred day moving average price is $15.58. The company has a quick ratio of 9.99, a current ratio of 9.99 and a debt-to-equity ratio of 17.30.

Navient (NASDAQ:NAVI) last announced its quarterly earnings results on Wednesday, July 24th. The credit services provider reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $157.27 million. During the same period in the prior year, the business earned $0.70 EPS. On average, analysts anticipate that Navient Co. will post 1.43 earnings per share for the current year.

Navient Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were paid a $0.16 dividend. The ex-dividend date was Friday, September 6th. This represents a $0.64 dividend on an annualized basis and a yield of 4.03%. Navient’s dividend payout ratio (DPR) is currently 41.03%.

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.