Y Intercept Hong Kong Ltd Makes New $342,000 Investment in Navient Corporation (NASDAQ:NAVI)

Y Intercept Hong Kong Ltd purchased a new position in shares of Navient Corporation (NASDAQ:NAVI) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 27,070 shares of the credit services provider’s stock, valued at approximately $342,000.

Other large investors also recently modified their holdings of the company. Allianz Asset Management GmbH grew its position in Navient by 47.1% during the 1st quarter. Allianz Asset Management GmbH now owns 381,040 shares of the credit services provider’s stock worth $4,813,000 after acquiring an additional 122,061 shares during the last quarter. Denali Advisors LLC boosted its stake in shares of Navient by 2.8% during the first quarter. Denali Advisors LLC now owns 158,987 shares of the credit services provider’s stock valued at $2,008,000 after purchasing an additional 4,287 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Navient during the first quarter worth about $149,000. Harbor Capital Advisors Inc. increased its stake in shares of Navient by 55.9% in the first quarter. Harbor Capital Advisors Inc. now owns 10,608 shares of the credit services provider’s stock valued at $134,000 after buying an additional 3,802 shares during the period. Finally, Wedge Capital Management L L P NC raised its holdings in Navient by 18.5% in the 1st quarter. Wedge Capital Management L L P NC now owns 56,612 shares of the credit services provider’s stock valued at $715,000 after buying an additional 8,838 shares during the last quarter. 97.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NAVI has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their target price on shares of Navient from $12.50 to $15.50 and gave the stock a “neutral” rating in a report on Friday, July 11th. TD Cowen cut shares of Navient from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 1st. TD Securities raised their target price on Navient from $11.00 to $12.00 and gave the stock a “sell” rating in a research report on Thursday, May 1st. Jefferies Financial Group cut their target price on Navient from $14.00 to $12.00 and set a “hold” rating on the stock in a report on Monday, April 21st. Finally, Keefe, Bruyette & Woods upped their price target on Navient from $14.00 to $16.50 and gave the company a “market perform” rating in a research report on Wednesday, July 9th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a strong buy rating to the stock. According to MarketBeat, Navient currently has an average rating of “Hold” and an average target price of $13.71.

Navient Price Performance

NAVI stock opened at $13.79 on Wednesday. The company has a quick ratio of 9.88, a current ratio of 9.88 and a debt-to-equity ratio of 16.56. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of 27.58 and a beta of 1.40. The company’s fifty day simple moving average is $14.01 and its 200 day simple moving average is $13.43. Navient Corporation has a 12-month low of $10.53 and a 12-month high of $16.97.

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

Navient Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 4.64%. The ex-dividend date was Friday, June 6th. Navient’s dividend payout ratio (DPR) is presently 128.00%.

Navient Company 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.