LSV Asset Management Cuts Stock Holdings in Navient Corporation $NAVI

LSV Asset Management lowered its position in shares of Navient Corporation (NASDAQ:NAVI) by 53.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,564,401 shares of the credit services provider’s stock after selling 1,809,210 shares during the period. LSV Asset Management’s holdings in Navient were worth $20,337,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in Navient by 70.5% in the 4th quarter. GAMMA Investing LLC now owns 1,978 shares of the credit services provider’s stock valued at $26,000 after acquiring an additional 818 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Navient by 39.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,228 shares of the credit services provider’s stock worth $55,000 after purchasing an additional 1,191 shares in the last quarter. Covestor Ltd raised its stake in shares of Navient by 88.0% in the fourth quarter. Covestor Ltd now owns 5,754 shares of the credit services provider’s stock worth $75,000 after purchasing an additional 2,693 shares during the last quarter. Danske Bank A S bought a new position in shares of Navient during the fourth quarter valued at $86,000. Finally, Russell Investments Group Ltd. boosted its position in shares of Navient by 77.0% during the second quarter. Russell Investments Group Ltd. now owns 7,766 shares of the credit services provider’s stock valued at $109,000 after buying an additional 3,378 shares during the last quarter. 97.14% of the stock is currently owned by hedge funds and other institutional investors.

Navient Price Performance

NAVI stock opened at $8.44 on Tuesday. Navient Corporation has a fifty-two week low of $7.80 and a fifty-two week high of $16.07. The business’s 50-day moving average is $8.44 and its two-hundred day moving average is $10.31. The company has a debt-to-equity ratio of 16.49, a quick ratio of 7.67 and a current ratio of 7.67. The company has a market cap of $793.28 million, a price-to-earnings ratio of -13.40 and a beta of 1.24.

Navient (NASDAQ:NAVI) last released its quarterly earnings results on Wednesday, April 29th. The credit services provider reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. Navient had a positive return on equity of 4.39% and a negative net margin of 1.94%.The business had revenue of $152.00 million during the quarter, compared to the consensus estimate of $141.47 million. During the same period in the previous year, the company posted $0.25 EPS. As a group, analysts forecast that Navient Corporation will post 0.71 earnings per share for the current year.

Navient Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 19th. Investors of record on Friday, June 5th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 7.6%. Navient’s dividend payout ratio (DPR) is presently -101.59%.

Analyst Ratings Changes

NAVI has been the subject of a number of recent analyst reports. Morgan Stanley decreased their target price on Navient from $12.00 to $9.00 and set an “equal weight” rating for the company in a research report on Thursday, April 16th. Wall Street Zen raised shares of Navient from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Navient from $15.00 to $9.00 and set a “hold” rating for the company in a research note on Thursday, January 29th. Barclays boosted their price objective on shares of Navient from $7.00 to $8.00 and gave the company an “underweight” rating in a report on Thursday, April 30th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Navient from $10.50 to $8.50 and set a “neutral” rating on the stock in a report on Thursday, April 9th. Five equities research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $9.29.

About Navient

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.