LSV Asset Management Lowers Holdings in Navient Corporation $NAVI

LSV Asset Management decreased its holdings in Navient Corporation (NASDAQ:NAVI) by 5.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,714,138 shares of the credit services provider’s stock after selling 201,100 shares during the period. LSV Asset Management owned 3.74% of Navient worth $52,369,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Intrust Bank NA lifted its holdings in Navient by 8.4% in the 2nd quarter. Intrust Bank NA now owns 11,503 shares of the credit services provider’s stock worth $162,000 after purchasing an additional 895 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Navient by 5.4% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,698 shares of the credit services provider’s stock valued at $264,000 after acquiring an additional 951 shares in the last quarter. Neuberger Berman Group LLC increased its holdings in Navient by 5.6% in the 1st quarter. Neuberger Berman Group LLC now owns 18,100 shares of the credit services provider’s stock valued at $229,000 after acquiring an additional 962 shares during the last quarter. Covestor Ltd lifted its stake in Navient by 15.7% in 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 in the last quarter. Finally, Wedge Capital Management L L P NC lifted its stake in Navient by 1.8% in the 2nd quarter. Wedge Capital Management L L P NC now owns 57,611 shares of the credit services provider’s stock worth $812,000 after purchasing an additional 999 shares in the last quarter. Institutional investors own 97.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. reduced their target price on Navient from $14.00 to $12.50 and set a “neutral” rating on the stock in a report on Thursday, October 30th. Keefe, Bruyette & Woods reduced their price objective on Navient from $15.00 to $14.50 and set a “market perform” rating on the stock in a research note on Wednesday, October 1st. Bank of America downgraded Navient from a “neutral” rating to an “underperform” rating and set a $12.00 target price for the company. in a research report on Thursday, September 4th. Weiss Ratings restated a “sell (d)” rating on shares of Navient in a research report on Thursday. Finally, Wall Street Zen downgraded shares of Navient from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $12.83.

Navient Price Performance

Shares of Navient stock opened at $11.34 on Tuesday. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of -21.00 and a beta of 1.33. The company has a debt-to-equity ratio of 16.98, a quick ratio of 9.41 and a current ratio of 9.41. The stock has a 50 day moving average price of $12.56 and a 200-day moving average price of $13.26. Navient Corporation has a one year low of $10.53 and a one year high of $16.07.

Navient (NASDAQ:NAVI) last issued its quarterly earnings results on Monday, February 28th. The credit services provider reported $0.97 earnings per share (EPS) for the quarter. Navient had a positive return on equity of 4.12% and a negative net margin of 1.48%.The company had revenue of $511.00 million during the quarter. Equities analysts expect that Navient Corporation will post 1.04 EPS for the current year.

Navient Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date of this dividend is Friday, December 5th. Navient’s dividend payout ratio is -118.52%.

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.