Arrowstreet Capital Limited Partnership Has $7.38 Million Holdings in Navient Co. (NASDAQ:NAVI)

Arrowstreet Capital Limited Partnership increased its position in Navient Co. (NASDAQ:NAVI) by 51.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 555,634 shares of the credit services provider’s stock after purchasing an additional 188,399 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Navient were worth $7,384,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NAVI. Charles Schwab Investment Management Inc. lifted its holdings in shares of Navient by 1.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,092,270 shares of the credit services provider’s stock valued at $17,028,000 after purchasing an additional 19,606 shares in the last quarter. Cerity Partners LLC lifted its stake in Navient by 82.7% in the 3rd quarter. Cerity Partners LLC now owns 38,323 shares of the credit services provider’s stock worth $597,000 after acquiring an additional 17,349 shares in the last quarter. Verition Fund Management LLC lifted its stake in Navient by 137.2% in the 3rd quarter. Verition Fund Management LLC now owns 33,653 shares of the credit services provider’s stock worth $525,000 after acquiring an additional 19,465 shares in the last quarter. Paloma Partners Management Co acquired a new stake in Navient during the 3rd quarter worth about $174,000. Finally, Quantinno Capital Management LP grew its stake in Navient by 12.6% during the 3rd quarter. Quantinno Capital Management LP now owns 14,173 shares of the credit services provider’s stock valued at $221,000 after acquiring an additional 1,587 shares in the last quarter. 97.14% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NAVI has been the subject of several research reports. Bank of America decreased their price target on shares of Navient from $17.00 to $16.00 and set a “neutral” rating for the company in a report on Tuesday, December 24th. TD Cowen raised shares of Navient from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 2nd. JPMorgan Chase & Co. dropped their price target on shares of Navient from $15.00 to $13.50 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Keefe, Bruyette & Woods reduced their price objective on Navient from $16.00 to $14.00 and set a “market perform” rating for the company in a research report on Monday, March 31st. Finally, Seaport Res Ptn raised Navient from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Navient presently has a consensus rating of “Hold” and a consensus target price of $13.50.

Navient Trading Down 6.1 %

Navient stock opened at $11.14 on Monday. Navient Co. has a one year low of $10.96 and a one year high of $17.28. The company’s fifty day moving average price is $13.55 and its two-hundred day moving average price is $14.32. The company has a debt-to-equity ratio of 16.35, a current ratio of 9.48 and a quick ratio of 9.49. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of 9.60 and a beta of 1.24.

Navient (NASDAQ:NAVI) last issued its quarterly earnings data on Wednesday, January 29th. The credit services provider reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). Navient had a net margin of 2.96% and a return on equity of 6.69%. On average, analysts forecast that Navient Co. will post 1.04 earnings per share for the current fiscal year.

Navient Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 5.75%. The ex-dividend date was Friday, March 7th. Navient’s dividend payout ratio is currently 55.17%.

About Navient

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.