Thrivent Financial for Lutherans Decreases Holdings in Navient Co. (NASDAQ:NAVI)

Thrivent Financial for Lutherans reduced its holdings in shares of Navient Co. (NASDAQ:NAVI – Get Rating) by 3.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 28,175 shares of the credit services provider’s stock after selling 1,115 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Navient were worth $463,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. Sherborne Investors Management LP purchased a new position in Navient in the fourth quarter valued at approximately $484,452,000. Allianz Asset Management GmbH raised its stake in Navient by 22.9% during the 1st quarter. Allianz Asset Management GmbH now owns 2,641,958 shares of the credit services provider’s stock worth $45,019,000 after acquiring an additional 491,644 shares in the last quarter. Nuveen Asset Management LLC lifted its position in Navient by 112.2% in the third quarter. Nuveen Asset Management LLC now owns 904,972 shares of the credit services provider’s stock valued at $13,294,000 after acquiring an additional 478,474 shares during the last quarter. Prudential Financial Inc. boosted its stake in Navient by 9.5% in the second quarter. Prudential Financial Inc. now owns 459,334 shares of the credit services provider’s stock valued at $6,426,000 after acquiring an additional 39,700 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Navient by 50.7% during the second quarter. Renaissance Technologies LLC now owns 407,700 shares of the credit services provider’s stock worth $5,704,000 after purchasing an additional 137,100 shares during the last quarter. Hedge funds and other institutional investors own 70.48% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NAVI. Stephens upped their target price on Navient from $17.00 to $20.00 in a research report on Thursday, January 26th. Keefe, Bruyette & Woods cut their target price on shares of Navient from $19.00 to $18.00 and set a “market perform” rating on the stock in a report on Tuesday, April 11th. Citigroup reduced their price target on shares of Navient from $19.00 to $17.00 in a research report on Tuesday, April 18th. JPMorgan Chase & Co. lowered their price objective on shares of Navient from $18.00 to $16.00 and set an “underweight” rating on the stock in a research report on Monday, April 17th. Finally, Morgan Stanley reduced their target price on shares of Navient from $19.00 to $17.00 and set an “equal weight” rating for the company in a report on Wednesday, April 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, Navient presently has an average rating of “Hold” and a consensus target price of $17.30.

Navient Price Performance

Shares of NASDAQ:NAVI opened at $15.23 on Friday. Navient Co. has a 52 week low of $12.45 and a 52 week high of $19.34. The company has a 50-day moving average price of $15.66 and a 200 day moving average price of $16.65. The company has a market cap of $1.93 billion, a P/E ratio of 4.22 and a beta of 1.52. The company has a quick ratio of 10.99, a current ratio of 10.99 and a debt-to-equity ratio of 19.40.

Navient (NASDAQ:NAVI – Get Rating) last posted its quarterly earnings results on Wednesday, April 26th. The credit services provider reported $1.06 EPS for the quarter, beating the consensus estimate of $0.88 by $0.18. Navient had a return on equity of 16.24% and a net margin of 12.07%. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $230.68 million. During the same period last year, the firm earned $0.90 EPS. Research analysts predict that Navient Co. will post 3.26 earnings per share for the current year.

About Navient

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Navient Corp. engages in the provision of asset management and business processing solutions for education, healthcare and government clients at the federal, state and local levels. It operates through the following segments: Federal Education Loans, Consumer Lending, Business Processing and Other. The Federal Education Loans segment owns FFELP Loans and performs servicing and asset recovery services on FFELP Loan portfolio.