Hsbc Holdings PLC Has $654,000 Position in Navient Corporation $NAVI

Hsbc Holdings PLC lessened its holdings in Navient Corporation (NASDAQ:NAVI) by 58.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 50,556 shares of the credit services provider’s stock after selling 72,563 shares during the period. Hsbc Holdings PLC owned 0.05% of Navient worth $654,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Orbis Allan Gray Ltd increased its holdings in shares of Navient by 23.2% in the second quarter. Orbis Allan Gray Ltd now owns 2,848,718 shares of the credit services provider’s stock valued at $40,167,000 after purchasing an additional 536,933 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Navient by 37.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,543,796 shares of the credit services provider’s stock valued at $20,069,000 after purchasing an additional 423,381 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Navient by 20.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,484,742 shares of the credit services provider’s stock worth $32,302,000 after buying an additional 418,161 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Navient by 70.0% during the 3rd quarter. Millennium Management LLC now owns 888,186 shares of the credit services provider’s stock worth $11,680,000 after buying an additional 365,677 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its holdings in shares of Navient by 206.7% during the 4th quarter. Squarepoint Ops LLC now owns 398,152 shares of the credit services provider’s stock worth $5,176,000 after buying an additional 268,345 shares during the period. Institutional investors and hedge funds own 97.14% of the company’s stock.

Navient Stock Performance

NAVI stock opened at $8.47 on Thursday. 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’s 50-day simple moving average is $8.24 and its 200 day simple moving average is $9.23. Navient Corporation has a 52 week low of $7.33 and a 52 week high of $14.94. The company has a market capitalization of $796.10 million, a PE ratio of -13.44 and a beta of 1.19.

Navient (NASDAQ:NAVI) last released its quarterly earnings results on Tuesday, April 28th. The credit services provider reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. Navient had a negative net margin of 1.94% and a positive return on equity of 4.39%. The business had revenue of $152.00 million for the quarter, compared to analyst estimates of $141.47 million. During the same period last year, the firm earned $0.25 earnings per share. As a group, sell-side analysts anticipate that Navient Corporation will post 0.69 earnings per share for the current year.

Navient Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 19th. Stockholders of record on Friday, June 5th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $0.64 annualized dividend and a dividend yield of 7.6%. Navient’s dividend payout ratio (DPR) is currently -101.59%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. TD Cowen decreased their price target on shares of Navient from $9.00 to $8.50 and set a “sell” rating on the stock in a research note on Tuesday, July 7th. Morgan Stanley cut their price objective on shares of Navient from $12.00 to $9.00 and set an “equal weight” rating for the company in a research report on Thursday, April 16th. Weiss Ratings restated a “sell (d)” rating on shares of Navient in a report on Wednesday, June 24th. Zacks Research raised Navient from a “strong sell” rating to a “hold” rating in a research report on Monday, March 30th. Finally, Barclays increased their target price on Navient from $7.00 to $8.00 and gave the stock an “underweight” rating in a research note on Thursday, April 30th. Five research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $9.14.

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.