ExodusPoint Capital Management LP Takes Position in Navient Co. (NASDAQ:NAVI)

ExodusPoint Capital Management LP purchased a new position in Navient Co. (NASDAQ:NAVI) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 168,960 shares of the credit services provider’s stock, valued at approximately $2,245,000. ExodusPoint Capital Management LP owned approximately 0.16% of Navient at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Quantinno Capital Management LP boosted its holdings in shares of Navient by 12.6% in the 3rd quarter. Quantinno Capital Management LP now owns 14,173 shares of the credit services provider’s stock worth $221,000 after purchasing an additional 1,587 shares during the period. Wedge Capital Management L L P NC increased its position in Navient by 4.8% during the fourth quarter. Wedge Capital Management L L P NC now owns 47,774 shares of the credit services provider’s stock valued at $635,000 after acquiring an additional 2,190 shares during the last quarter. Xponance Inc. raised its stake in shares of Navient by 12.9% in the fourth quarter. Xponance Inc. now owns 23,460 shares of the credit services provider’s stock valued at $312,000 after acquiring an additional 2,687 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Navient by 0.9% in the 4th quarter. Principal Financial Group Inc. now owns 374,879 shares of the credit services provider’s stock worth $4,982,000 after acquiring an additional 3,445 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its holdings in Navient by 4.6% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 79,760 shares of the credit services provider’s stock valued at $1,060,000 after purchasing an additional 3,541 shares during the last quarter. 97.14% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on NAVI. StockNews.com downgraded shares of Navient from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Seaport Res Ptn raised Navient from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 21st. Bank of America cut their price objective on Navient from $17.00 to $16.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 24th. TD Cowen upgraded Navient from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods cut their price target 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. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $13.50.

Navient Trading Down 0.9 %

Shares of NASDAQ NAVI opened at $11.04 on Tuesday. Navient Co. has a twelve month low of $10.53 and a twelve month high of $17.28. The firm has a market cap of $1.13 billion, a PE ratio of 9.52 and a beta of 1.24. The business has a fifty day simple moving average of $13.48 and a two-hundred day simple moving average of $14.28. The company has a quick ratio of 9.49, a current ratio of 9.48 and a debt-to-equity ratio of 16.35.

Navient (NASDAQ:NAVI) last released 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 net margin of 2.96% and a return on equity of 6.69%. Analysts expect that Navient Co. will post 1.04 earnings per share for the current fiscal year.

Navient Announces Dividend

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 dividend of $0.16 per share. The ex-dividend date was Friday, March 7th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 5.80%. Navient’s dividend payout ratio is presently 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.