Bank of New York Mellon Corp Trims Stock Holdings in Navient Corporation (NASDAQ:NAVI)

Bank of New York Mellon Corp lessened its stake in shares of Navient Corporation (NASDAQ:NAVI) by 4.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,098,069 shares of the credit services provider’s stock after selling 51,530 shares during the quarter. Bank of New York Mellon Corp owned 1.09% of Navient worth $13,869,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Sterling Capital Management LLC boosted its holdings in Navient by 815.0% in the fourth quarter. Sterling Capital Management LLC now owns 2,443 shares of the credit services provider’s stock valued at $32,000 after purchasing an additional 2,176 shares during the period. GAMMA Investing LLC lifted its position in shares of Navient by 2,663.1% during the 1st quarter. GAMMA Investing LLC now owns 8,096 shares of the credit services provider’s stock worth $102,000 after purchasing an additional 7,803 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Navient by 55.9% during the 1st quarter. Harbor Capital Advisors Inc. now owns 10,608 shares of the credit services provider’s stock worth $134,000 after purchasing an additional 3,802 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in shares of Navient during the first quarter worth $149,000. Finally, Raymond James Financial Inc. purchased a new position in Navient in the fourth quarter valued at $167,000. Institutional investors and hedge funds own 97.14% of the company’s stock.

Navient Trading Down 1.8%

NASDAQ NAVI opened at $14.13 on Friday. The company has a debt-to-equity ratio of 16.56, a current ratio of 9.88 and a quick ratio of 9.88. The company has a market cap of $1.43 billion, a P/E ratio of 28.26 and a beta of 1.40. Navient Corporation has a 12 month low of $10.53 and a 12 month high of $16.97. The company has a 50-day moving average of $13.97 and a 200-day moving average of $13.38.

Navient (NASDAQ:NAVI) last released its quarterly earnings data on Wednesday, April 30th. The credit services provider reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.09. Navient had a net margin of 1.37% and a return on equity of 5.20%. The company had revenue of $156.00 million during the quarter, compared to analyst estimates of $150.40 million. During the same quarter in the prior year, the business earned $0.47 earnings per share. As a group, equities analysts predict that Navient Corporation will post 1.04 earnings per share for the current year.

Navient Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 4.53%. The ex-dividend date was Friday, June 6th. Navient’s dividend payout ratio is currently 128.00%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. TD Securities lifted their price target on shares of Navient from $11.00 to $12.00 and gave the stock a “sell” rating in a research note on Thursday, May 1st. Jefferies Financial Group cut their price target on Navient from $14.00 to $12.00 and set a “hold” rating on the stock in a research report on Monday, April 21st. TD Cowen cut Navient from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 1st. Keefe, Bruyette & Woods increased their target price on shares of Navient from $14.00 to $16.50 and gave the stock a “market perform” rating in a research note on Wednesday, July 9th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Navient from $12.50 to $15.50 and gave the company a “neutral” rating in a research note on Friday, July 11th. Three analysts have 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.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $13.71.

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.