Renaissance Technologies LLC Has $266,000 Stake in Navient Co. (NASDAQ:NAVI)

Renaissance Technologies LLC lowered its stake in shares of Navient Co. (NASDAQ:NAVI) by 87.7% in the second quarter, Holdings Channel reports. The institutional investor owned 18,300 shares of the credit services provider’s stock after selling 130,006 shares during the period. Renaissance Technologies LLC’s holdings in Navient were worth $266,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Wellington Management Group LLP grew its holdings in shares of Navient by 15.5% during the 4th quarter. Wellington Management Group LLP now owns 343,761 shares of the credit services provider’s stock worth $6,401,000 after purchasing an additional 46,230 shares in the last quarter. Nomura Holdings Inc. bought a new stake in Navient in the 4th quarter valued at $783,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Navient in the 1st quarter valued at $36,000. Denali Advisors LLC lifted its holdings in shares of Navient by 115.9% during the 1st quarter. Denali Advisors LLC now owns 283,000 shares of the credit services provider’s stock worth $4,924,000 after acquiring an additional 151,900 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in shares of Navient by 265.4% during 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 acquiring an additional 93,469 shares in the last quarter. Institutional investors own 97.14% of the company’s stock.

Navient Stock Performance

Navient stock opened at $15.71 on Friday. Navient Co. has a 12-month low of $13.95 and a 12-month high of $19.68. The stock has a 50-day simple moving average of $15.52 and a 200 day simple moving average of $15.46. The company has a quick ratio of 9.99, a current ratio of 9.99 and a debt-to-equity ratio of 17.30. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of 11.55 and a beta of 1.39.

Navient (NASDAQ:NAVI) last announced its earnings results 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). The company 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 quarter in the previous year, the company posted $0.70 earnings per share. On average, research analysts anticipate that Navient Co. will post 1.36 earnings per share for the current fiscal year.

Navient Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were paid a $0.16 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.64 annualized dividend and a dividend yield of 4.07%. Navient’s dividend payout ratio (DPR) is currently 47.06%.

Wall Street Analysts Forecast Growth

NAVI has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised their price target on shares of Navient from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, October 7th. 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. Barclays increased their price objective on Navient from $10.00 to $11.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 8th. Finally, Bank of America initiated coverage on shares of Navient in a research note on Monday, September 30th. They issued a “neutral” rating and a $17.00 target price on the stock. Three analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $15.78.

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.