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

Massachusetts Financial Services Co. MA raised its holdings in Navient Co. (NASDAQ:NAVI) by 3.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm 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’s holdings in Navient were worth $1,777,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new stake in Navient during the first quarter worth approximately $36,000. IAG Wealth Partners LLC acquired a new stake in shares of Navient during the 2nd quarter worth $50,000. Signaturefd LLC increased its position in shares of Navient by 22.1% in the second quarter. Signaturefd LLC now owns 4,797 shares of the credit services provider’s stock worth $70,000 after purchasing an additional 869 shares during the period. Covestor Ltd raised its stake in Navient by 23.1% in the first quarter. Covestor Ltd now owns 6,245 shares of the credit services provider’s stock valued at $109,000 after purchasing an additional 1,173 shares in the last quarter. Finally, Boulder Hill Capital Management LP bought a new stake in Navient during the fourth quarter worth about $188,000. Institutional investors and hedge funds own 97.14% of the company’s stock.

Analyst Upgrades and Downgrades

NAVI has been the topic of several recent analyst reports. Keefe, Bruyette & Woods raised their target price on shares of Navient from $15.00 to $16.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. lowered their price objective on shares of Navient from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Monday, July 8th. Finally, Barclays dropped their price objective on Navient from $11.00 to $10.00 and set an “underweight” rating for the company in a research report on Tuesday, July 9th. Three equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat.com, Navient has an average rating of “Hold” and a consensus target price of $15.56.

Navient Price Performance

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

Navient (NASDAQ:NAVI) last posted its earnings results on Wednesday, July 24th. The credit services provider reported $0.29 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.14). Navient had a return on equity of 11.06% and a net margin of 3.41%. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $157.27 million. During the same quarter in the prior year, the business earned $0.70 earnings per share. Analysts expect that Navient Co. will post 1.43 EPS for the current year.

Navient Announces Dividend

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

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.