Point72 Asset Management L.P. Acquires 154,010 Shares of Navient Corp (NASDAQ:NAVI)

Point72 Asset Management L.P. lifted its holdings in shares of Navient Corp (NASDAQ:NAVI) by 2,406.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 160,410 shares of the credit services provider’s stock after buying an additional 154,010 shares during the quarter. Point72 Asset Management L.P.’s holdings in Navient were worth $2,053,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in NAVI. CIBC Private Wealth Group LLC raised its stake in shares of Navient by 3.7% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 33,950 shares of the credit services provider’s stock valued at $434,000 after purchasing an additional 1,218 shares during the period. Strs Ohio lifted its holdings in Navient by 6.0% during the 3rd quarter. Strs Ohio now owns 27,630 shares of the credit services provider’s stock worth $353,000 after purchasing an additional 1,573 shares in the last quarter. Dupont Capital Management Corp lifted its holdings in Navient by 10.2% during the 3rd quarter. Dupont Capital Management Corp now owns 17,725 shares of the credit services provider’s stock worth $227,000 after purchasing an additional 1,645 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Navient by 2.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 63,800 shares of the credit services provider’s stock worth $817,000 after purchasing an additional 1,707 shares during the period. Finally, Advisors Preferred LLC bought a new position in Navient in the 2nd quarter worth about $25,000. Institutional investors own 98.39% of the company’s stock.

Several brokerages have issued reports on NAVI. TheStreet lowered shares of Navient from a “b-” rating to a “c+” rating in a research report on Monday, October 7th. BMO Capital Markets raised their price objective on shares of Navient from $17.00 to $18.00 and gave the company a “market perform” rating in a research report on Thursday, October 24th. ValuEngine lowered shares of Navient from a “sell” rating to a “strong sell” rating in a research report on Friday, October 25th. BidaskClub upgraded Navient from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, Zacks Investment Research upgraded Navient from a “hold” rating to a “strong-buy” rating and set a $14.00 price objective for the company in a research report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $15.60.

Shares of Navient stock opened at $13.90 on Wednesday. The company’s fifty day simple moving average is $13.71 and its two-hundred day simple moving average is $13.31. Navient Corp has a 12-month low of $8.23 and a 12-month high of $15.67. The firm has a market cap of $3.17 billion, a PE ratio of 6.65, a price-to-earnings-growth ratio of 0.23 and a beta of 2.14. The company has a quick ratio of 13.16, a current ratio of 13.16 and a debt-to-equity ratio of 26.07.

Navient (NASDAQ:NAVI) last issued its quarterly earnings data on Tuesday, October 22nd. The credit services provider reported $0.62 EPS for the quarter, beating the consensus estimate of $0.57 by $0.05. The firm had revenue of $312.00 million during the quarter, compared to the consensus estimate of $295.33 million. Navient had a net margin of 8.80% and a return on equity of 17.50%. During the same period in the prior year, the firm posted $0.53 earnings per share. As a group, sell-side analysts expect that Navient Corp will post 2.52 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.64 dividend on an annualized basis and a yield of 4.60%. Navient’s dividend payout ratio is presently 30.62%.

Navient Company Profile

Navient Corporation provides education loan management and business processing solutions for education, healthcare, and government clients at the federal, state, and local levels in the United States. It operates in three segments: Federal Education Loans, Consumer Lending, and Business Processing. The company holds and acquires Federal Family Education Loan Program loans that are insured or guaranteed by state or not-for-profit agencies; and performs servicing and asset recovery services on its own loan portfolio, and federal education loans owned by the United States Department of Education and other institutions.

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Institutional Ownership by Quarter for Navient (NASDAQ:NAVI)

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