Covestor Ltd Sells 1,050 Shares of Navient Co. (NASDAQ:NAVI)

Covestor Ltd lowered its holdings in shares of Navient Co. (NASDAQ:NAVI) by 14.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,310 shares of the credit services provider’s stock after selling 1,050 shares during the period. Covestor Ltd’s holdings in Navient were worth $84,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of NAVI. American Century Companies Inc. raised its stake in Navient by 6.4% during the fourth quarter. American Century Companies Inc. now owns 1,822,583 shares of the credit services provider’s stock worth $24,222,000 after acquiring an additional 109,229 shares in the last quarter. Wellington Management Group LLP increased its position in Navient by 47.4% during the 4th quarter. Wellington Management Group LLP now owns 1,315,841 shares of the credit services provider’s stock worth $17,488,000 after purchasing an additional 423,013 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Navient by 0.9% in the 4th quarter. Bank of New York Mellon Corp now owns 1,149,599 shares of the credit services provider’s stock valued at $15,278,000 after purchasing an additional 10,788 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Navient by 51.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 555,634 shares of the credit services provider’s stock valued at $7,384,000 after buying an additional 188,399 shares in the last quarter. Finally, Empowered Funds LLC grew its stake in shares of Navient by 5.1% during the fourth quarter. Empowered Funds LLC now owns 467,232 shares of the credit services provider’s stock worth $6,210,000 after buying an additional 22,765 shares during the last quarter. 97.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NAVI. Seaport Res Ptn raised Navient from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 21st. JPMorgan Chase & Co. reduced their price target on Navient from $13.50 to $11.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. TD Cowen raised Navient from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods reduced their target price on shares of Navient from $16.00 to $14.00 and set a “market perform” rating on the stock in a report on Monday, March 31st. Finally, Bank of America decreased their price target on shares of Navient from $17.00 to $16.00 and set a “neutral” rating for the company in a research report on Tuesday, December 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $13.00.

Navient Stock Performance

Shares of NAVI stock opened at $11.01 on Monday. The company has a debt-to-equity ratio of 16.35, a current ratio of 9.48 and a quick ratio of 9.49. Navient Co. has a one year low of $10.53 and a one year high of $16.97. The business’s 50 day simple moving average is $13.16 and its 200 day simple moving average is $14.12. The stock has a market capitalization of $1.13 billion, a PE ratio of 9.49 and a beta of 1.24.

Navient (NASDAQ:NAVI) last posted its quarterly earnings data on Wednesday, January 29th. The credit services provider reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.01). Navient had a return on equity of 6.69% and a net margin of 2.96%. As a group, research analysts forecast that Navient Co. will post 1.04 earnings per share for the current year.

Navient Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 5.81%. The ex-dividend date was Friday, March 7th. Navient’s dividend payout ratio is 55.17%.

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.