Navient Corporation $NAVI Shares Acquired by Sei Investments Co.

Sei Investments Co. lifted its stake in shares of Navient Corporation (NASDAQ:NAVI) by 60.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 170,441 shares of the credit services provider’s stock after acquiring an additional 64,273 shares during the quarter. Sei Investments Co. owned 0.18% of Navient worth $1,394,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Parallel Advisors LLC boosted its holdings in Navient by 325.6% in the first quarter. Parallel Advisors LLC now owns 5,005 shares of the credit services provider’s stock valued at $41,000 after purchasing an additional 3,829 shares during the period. Kestra Advisory Services LLC acquired a new position in Navient during the 4th quarter worth $44,000. PNC Financial Services Group Inc. increased its holdings in Navient by 39.2% during 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 during the period. Northwestern Mutual Wealth Management Co. increased its holdings in Navient by 3,045.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 5,127 shares of the credit services provider’s stock worth $67,000 after purchasing an additional 4,964 shares during the period. Finally, Covestor Ltd raised its position in Navient by 88.0% in the 4th quarter. Covestor Ltd now owns 5,754 shares of the credit services provider’s stock valued at $75,000 after purchasing an additional 2,693 shares in the last quarter. Hedge funds and other institutional investors own 97.14% of the company’s stock.

Navient Trading Up 0.8%

NAVI opened at $8.54 on Wednesday. Navient Corporation has a one year low of $7.33 and a one year high of $13.87. The company has a market cap of $802.67 million, a P/E ratio of -17.08 and a beta of 1.18. The company has a debt-to-equity ratio of 16.73, a quick ratio of 7.67 and a current ratio of 10.53. The business’s 50-day simple moving average is $8.39 and its 200-day simple moving average is $8.70.

Navient (NASDAQ:NAVI) last posted its earnings results on Thursday, August 6th. The credit services provider reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.09. The firm had revenue of $150.00 million during the quarter, compared to analysts’ expectations of $142.87 million. Navient had a positive return on equity of 4.68% and a negative net margin of 1.64%.During the same quarter in the previous year, the business earned $0.20 earnings per share. As a group, equities research analysts expect that Navient Corporation will post 0.75 EPS for the current fiscal year.

Navient Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 19th. Stockholders of record on Friday, June 5th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 7.5%. The ex-dividend date was Friday, June 5th. Navient’s payout ratio is currently -128.00%.

Wall Street Analyst Weigh In

NAVI has been the subject of a number of analyst reports. Morgan Stanley lowered their price objective 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. Barclays raised their target price on shares of Navient from $7.00 to $8.00 and gave the company an “underweight” rating in a report on Thursday, April 30th. JPMorgan Chase & Co. decreased their price target on shares of Navient from $9.50 to $8.00 and set a “neutral” rating for the company in a research note on Monday, July 13th. Bank of America initiated coverage on shares of Navient in a report on Monday, April 20th. They set an “underperform” rating and a $7.00 price target for the company. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Navient in a research report on Wednesday, June 24th. Five analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target 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.