Navient Corporation $NAVI Shares Acquired by American Century Companies Inc.

American Century Companies Inc. boosted its position in Navient Corporation (NASDAQ:NAVI) by 6.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,159,730 shares of the credit services provider’s stock after purchasing an additional 138,020 shares during the period. American Century Companies Inc. owned about 2.21% of Navient worth $28,400,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NAVI. Royal Bank of Canada grew its holdings in Navient by 11.7% in the first quarter. Royal Bank of Canada now owns 98,366 shares of the credit services provider’s stock valued at $1,243,000 after purchasing an additional 10,296 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Navient by 9.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 210,350 shares of the credit services provider’s stock valued at $2,657,000 after buying an additional 17,483 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Navient by 142.5% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 24,710 shares of the credit services provider’s stock worth $348,000 after buying an additional 14,519 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Navient in the 2nd quarter worth about $288,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Navient by 5.4% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,698 shares of the credit services provider’s stock worth $264,000 after buying an additional 951 shares in the last quarter. 97.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on NAVI shares. Morgan Stanley set a $12.00 target price on shares of Navient in a report on Wednesday, January 28th. Barclays set a $9.00 price target on shares of Navient in a report on Thursday, January 29th. Zacks Research lowered shares of Navient from a “hold” rating to a “strong sell” rating in a research report on Monday, February 2nd. Wall Street Zen raised shares of Navient from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Navient in a research report on Monday, December 29th. Five research analysts have rated the stock with a Hold rating and six have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Navient currently has a consensus rating of “Strong Sell” and an average price target of $11.63.

Navient Trading Down 3.0%

Navient stock opened at $8.30 on Monday. The stock has a 50-day moving average price of $10.78 and a 200 day moving average price of $12.03. Navient Corporation has a 52 week low of $8.00 and a 52 week high of $16.07. The stock has a market cap of $789.25 million, a PE ratio of -10.12 and a beta of 1.33. The company has a current ratio of 9.01, a quick ratio of 9.01 and a debt-to-equity ratio of 16.94.

Navient (NASDAQ:NAVI) last released its earnings results on Tuesday, January 27th. The credit services provider reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.29). The firm had revenue of $137.00 million during the quarter, compared to analysts’ expectations of $144.25 million. Navient had a negative net margin of 2.47% and a positive return on equity of 4.70%. During the same quarter last year, the company posted ($0.24) earnings per share. Equities research analysts predict that Navient Corporation will post 1.04 earnings per share for the current fiscal year.

Navient Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, March 6th. This represents a $0.64 annualized dividend and a dividend yield of 7.7%. Navient’s dividend payout ratio is presently -78.05%.

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.