Navient Corporation $NAVI Shares Acquired by Sei Investments Co.

Sei Investments Co. increased its position in Navient Corporation (NASDAQ:NAVI) by 60.5% in the 1st quarter, Holdings Channel reports. The firm owned 170,441 shares of the credit services provider’s stock after buying an additional 64,273 shares during the period. Sei Investments Co.’s holdings in Navient were worth $1,394,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in NAVI. Arbiter Partners Capital Management LLC increased its position in Navient by 230.5% during the first quarter. Arbiter Partners Capital Management LLC now owns 512,548 shares of the credit services provider’s stock worth $4,193,000 after buying an additional 357,454 shares during the period. PNC Financial Services Group Inc. lifted its stake in Navient by 176.3% in the first quarter. PNC Financial Services Group Inc. now owns 11,681 shares of the credit services provider’s stock valued at $96,000 after buying an additional 7,453 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of Navient by 325.6% in the first quarter. Parallel Advisors LLC now owns 5,005 shares of the credit services provider’s stock valued at $41,000 after acquiring an additional 3,829 shares during the period. Greenwood Gearhart LLC acquired a new stake in shares of Navient in the first quarter valued at approximately $84,000. Finally, Illinois Municipal Retirement Fund grew its position in shares of Navient by 4.4% during the first quarter. Illinois Municipal Retirement Fund now owns 38,948 shares of the credit services provider’s stock worth $319,000 after acquiring an additional 1,654 shares during the last quarter. 97.14% of the stock is owned by institutional investors and hedge funds.

Navient Trading Up 0.8%

Shares of Navient stock opened at $8.54 on Wednesday. Navient Corporation has a 52-week low of $7.33 and a 52-week high of $13.87. The company has a quick ratio of 7.67, a current ratio of 10.53 and a debt-to-equity ratio of 16.73. The company’s 50-day simple moving average is $8.39 and its 200-day simple moving average is $8.70. The firm has a market cap of $802.67 million, a price-to-earnings ratio of -17.08 and a beta of 1.18.

Navient (NASDAQ:NAVI) last posted its quarterly earnings results on Thursday, August 6th. The credit services provider reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.09. Navient had a negative net margin of 1.64% and a positive return on equity of 4.68%. The firm had revenue of $150.00 million during the quarter, compared to analysts’ expectations of $142.87 million. During the same period in the prior year, the company posted $0.20 earnings per share. As a group, equities research analysts anticipate that Navient Corporation will post 0.75 earnings per share for the current year.

Navient Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 19th. Stockholders of record on Friday, June 5th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 7.5%. The ex-dividend date of this dividend was Friday, June 5th. Navient’s dividend payout ratio (DPR) is currently -128.00%.

Analyst Upgrades and Downgrades

NAVI has been the topic of a number of recent research reports. TD Cowen reiterated a “sell” rating on shares of Navient in a research report on Friday. Weiss Ratings reissued a “sell (d)” rating on shares of Navient in a research report on Wednesday, June 24th. Morgan Stanley dropped their price objective on shares of Navient from $12.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 16th. JPMorgan Chase & Co. reduced their target price on shares of Navient from $9.50 to $8.00 and set a “neutral” rating for the company in a report on Monday, July 13th. Finally, Bank of America started coverage on Navient in a report on Monday, April 20th. They set an “underperform” rating and a $7.00 price target for the company. Five analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $9.14.

Navient Profile

Navient Corporation (NASDAQ: NAVI) is a specialized provider of asset management and business processing solutions, with a primary focus on student loan servicing. Established in 2014 through the separation from Sallie Mae, Navient assumed responsibility for servicing federal and private education loans, positioning itself as one of the largest servicers of higher education debt in the United States.

The company’s core activities center on federal student loan servicing under contracts with the U.S.