Rhumbline Advisers Has $4.96 Million Holdings in Navient Co. (NASDAQ:NAVI)

Rhumbline Advisers lessened its stake in shares of Navient Co. (NASDAQ:NAVI) by 4.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 340,331 shares of the credit services provider’s stock after selling 14,826 shares during the period. Rhumbline Advisers’ holdings in Navient were worth $4,955,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of NAVI. Jupiter Asset Management Ltd. acquired a new position in Navient during the first quarter valued at approximately $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 buying an additional 47,189 shares during the period. Bridgeway Capital Management LLC lifted 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 purchasing an additional 65,576 shares during the period. BNP Paribas Financial Markets grew its position in shares of Navient by 265.4% in the 1st quarter. BNP Paribas Financial Markets now owns 128,690 shares of the credit services provider’s stock valued at $2,239,000 after buying an additional 93,469 shares during the last quarter. Finally, Quest Partners LLC bought a new stake in Navient in the fourth quarter valued at approximately $394,000. Institutional investors own 97.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. JPMorgan Chase & Co. decreased their price target on Navient from $16.00 to $15.00 and set a “neutral” rating for the company in a report on Monday, July 8th. Keefe, Bruyette & Woods boosted their price target on Navient from $15.00 to $16.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. Finally, Barclays cut their price target 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 assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $15.56.

Navient Trading Up 2.0 %

Shares of Navient stock opened at $15.77 on Monday. The stock has a market capitalization of $1.76 billion, a PE ratio of 10.11 and a beta of 1.39. Navient Co. has a 52 week low of $13.95 and a 52 week high of $19.68. The stock has a 50 day moving average price of $15.44 and a two-hundred day moving average price of $15.60. The company has a debt-to-equity ratio of 17.30, a quick ratio of 9.99 and a current ratio of 9.99.

Navient (NASDAQ:NAVI) last posted 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 during the quarter, compared to analyst estimates of $157.27 million. During the same period in the previous year, the business posted $0.70 EPS. As a group, equities analysts anticipate that Navient Co. will post 1.43 earnings per share for the current fiscal year.

Navient Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be issued a $0.16 dividend. The ex-dividend date is Friday, September 6th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.06%. Navient’s dividend payout ratio is presently 41.03%.

Navient 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.