Navient Co. (NASDAQ:NAVI) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA cut its position in Navient Co. (NASDAQ:NAVI) by 2.9% during the fourth quarter, Holdings Channel reports. The firm owned 115,687 shares of the credit services provider’s stock after selling 3,452 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Navient were worth $1,537,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in Navient in the fourth quarter valued at approximately $167,000. AXQ Capital LP acquired a new stake in Navient during the 4th quarter valued at approximately $196,000. Headlands Technologies LLC boosted its holdings in shares of Navient by 757.3% in the 4th quarter. Headlands Technologies LLC now owns 14,737 shares of the credit services provider’s stock valued at $196,000 after acquiring an additional 13,018 shares during the last quarter. Quantinno Capital Management LP increased its stake in shares of Navient by 12.6% in the third quarter. Quantinno Capital Management LP now owns 14,173 shares of the credit services provider’s stock worth $221,000 after acquiring an additional 1,587 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Navient in the third quarter worth $256,000. 97.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on NAVI. Bank of America decreased their target price 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. Keefe, Bruyette & Woods lowered their target price on Navient from $16.00 to $14.00 and set a “market perform” rating on the stock in a research note on Monday, March 31st. JPMorgan Chase & Co. dropped their target price on Navient from $13.50 to $11.00 and set a “neutral” rating on the stock in a report on Tuesday. Seaport Res Ptn raised Navient from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 21st. Finally, TD Cowen raised shares of Navient from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Navient has an average rating of “Hold” and an average target price of $13.00.

Navient Stock Down 2.5 %

Shares of NAVI opened at $10.76 on Wednesday. The company has a current ratio of 9.48, a quick ratio of 9.49 and a debt-to-equity ratio of 16.35. The firm has a market cap of $1.10 billion, a P/E ratio of 9.28 and a beta of 1.24. The stock’s 50 day moving average is $13.33 and its two-hundred day moving average is $14.22. Navient Co. has a 12 month low of $10.53 and a 12 month high of $17.28.

Navient (NASDAQ:NAVI) last issued its quarterly earnings results on Wednesday, January 29th. The credit services provider reported $0.25 EPS 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%. Analysts predict that Navient Co. will post 1.04 earnings per share for the current fiscal year.

Navient Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 5.95%. The ex-dividend date of this dividend was Friday, March 7th. Navient’s 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.