Point72 Hong Kong Ltd Acquires Shares of 8,286 Navient Co. (NASDAQ:NAVI)

Point72 Hong Kong Ltd bought a new position in shares of Navient Co. (NASDAQ:NAVI) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 8,286 shares of the credit services provider’s stock, valued at approximately $121,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Jupiter Asset Management Ltd. acquired a new stake in Navient during the first quarter worth approximately $4,813,000. State Board of Administration of Florida Retirement System lifted its holdings 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 purchasing an additional 47,189 shares during the last quarter. Bridgeway Capital Management LLC boosted its stake in Navient by 8.8% in the 4th quarter. Bridgeway Capital Management LLC now owns 811,826 shares of the credit services provider’s stock valued at $15,116,000 after purchasing an additional 65,576 shares during the period. BNP Paribas Financial Markets grew its holdings in 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 in the last quarter. Finally, Quest Partners LLC increased its position in Navient by 102,163.1% during the 2nd quarter. Quest Partners LLC now owns 85,901 shares of the credit services provider’s stock worth $1,251,000 after buying an additional 85,817 shares during the period. Institutional investors own 97.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on NAVI shares. 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. Keefe, Bruyette & Woods increased their target price on shares of Navient from $15.00 to $16.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. Finally, JPMorgan Chase & Co. dropped their price target 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. Three research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $15.56.

Navient Stock Performance

Shares of NASDAQ:NAVI opened at $15.42 on Friday. The company’s 50 day simple moving average is $15.59 and its 200 day simple moving average is $15.55. The company has a debt-to-equity ratio of 17.30, a current ratio of 9.99 and a quick ratio of 9.99. Navient Co. has a 1 year low of $13.95 and a 1 year high of $19.68. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of 9.88 and a beta of 1.39.

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

Navient Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders 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 dividend yield of 4.15%. 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.