Steward Partners Investment Advisory LLC purchased a new stake in shares of Navient Co. (NASDAQ:NAVI – Get Rating) during the first quarter, Holdings Channel reports. The fund purchased 2,070 shares of the credit services provider’s stock, valued at approximately $35,000.
A number of other hedge funds have also recently made changes to their positions in the company. Covestor Ltd acquired a new position in shares of Navient in the fourth quarter worth approximately $57,000. Meritage Portfolio Management acquired a new position in shares of Navient in the first quarter worth approximately $173,000. LMR Partners LLP acquired a new position in shares of Navient in the fourth quarter worth approximately $201,000. Cornerstone Investment Partners LLC acquired a new position in shares of Navient in the fourth quarter worth approximately $202,000. Finally, Kestra Advisory Services LLC acquired a new position in shares of Navient in the first quarter worth approximately $208,000. 80.27% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities analysts recently commented on the company. Keefe, Bruyette & Woods cut their price objective on Navient from $18.00 to $17.00 in a research note on Monday, July 11th. Citigroup lifted their target price on Navient from $16.00 to $18.00 in a report on Thursday, July 28th. Barclays lowered their target price on Navient from $25.00 to $18.00 and set an “overweight” rating for the company in a report on Monday, July 11th. JPMorgan Chase & Co. downgraded Navient from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $21.00 to $17.00 in a report on Monday, April 11th. Finally, Compass Point lowered their target price on Navient to $15.00 in a report on Monday, July 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $17.86.
Navient Trading Up 0.1 %
Navient (NASDAQ:NAVI – Get Rating) last released its quarterly earnings data on Tuesday, July 26th. The credit services provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.82 by $0.09. Navient had a return on equity of 12.79% and a net margin of 18.11%. During the same quarter in the prior year, the business earned $0.94 earnings per share. As a group, equities analysts expect that Navient Co. will post 3.41 earnings per share for the current fiscal year.
Navient Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 17th. Stockholders of record on Friday, June 3rd were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, June 2nd. This represents a $0.64 annualized dividend and a dividend yield of 3.97%. Navient’s dividend payout ratio is 16.58%.
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 through three segments: Federal Education Loans, Consumer Lending, and Business Processing.
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