Navient Corporation $NAVI Shares Sold by Invesco Ltd.

Invesco Ltd. reduced its stake in shares of Navient Corporation (NASDAQ:NAVI) by 12.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 683,704 shares of the credit services provider’s stock after selling 93,885 shares during the period. Invesco Ltd. owned 0.68% of Navient worth $8,635,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Covestor Ltd boosted its holdings in shares of Navient by 15.7% during the 1st quarter. Covestor Ltd now owns 7,303 shares of the credit services provider’s stock worth $92,000 after purchasing an additional 993 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Navient during the 1st quarter worth approximately $129,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Navient by 32.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,439,903 shares of the credit services provider’s stock worth $18,186,000 after purchasing an additional 353,898 shares during the last quarter. New Age Alpha Advisors LLC acquired a new position in shares of Navient during the 1st quarter worth approximately $71,000. Finally, XTX Topco Ltd acquired a new position in shares of Navient during the 1st quarter worth approximately $565,000. 97.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on NAVI shares. TD Cowen cut Navient from a “hold” rating to a “strong sell” rating in a report on Thursday, May 1st. TD Securities upped their price objective on Navient from $11.00 to $12.00 and gave the company a “sell” rating in a report on Thursday, May 1st. Morgan Stanley decreased their price objective on Navient from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Thursday, July 31st. JPMorgan Chase & Co. upped their price objective on Navient from $12.50 to $15.50 and gave the company a “neutral” rating in a report on Friday, July 11th. Finally, Keefe, Bruyette & Woods decreased their price objective on Navient from $16.50 to $15.00 and set a “market perform” rating on the stock in a report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $13.56.

Navient Stock Down 0.1%

Shares of NASDAQ NAVI opened at $13.54 on Tuesday. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 43.68 and a beta of 1.37. The company has a quick ratio of 9.94, a current ratio of 9.94 and a debt-to-equity ratio of 16.52. Navient Corporation has a 52-week low of $10.53 and a 52-week high of $16.97. The business’s 50 day moving average is $13.78 and its two-hundred day moving average is $13.28.

Navient (NASDAQ:NAVI) last announced its earnings results on Wednesday, July 30th. The credit services provider reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.06). The firm had revenue of $156.00 million during the quarter, compared to analysts’ expectations of $156.20 million. Navient had a net margin of 0.89% and a return on equity of 4.08%. During the same period in the previous year, the firm earned $0.29 EPS. Navient has set its FY 2025 guidance at 0.950-1.050 EPS. Research analysts predict that Navient Corporation will post 1.04 EPS for the current year.

Navient Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be given a $0.16 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.64 dividend on an annualized basis and a yield of 4.7%. Navient’s payout ratio is presently 206.45%.

Navient Profile

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.