Northwestern Mutual Investment Management Company LLC Decreases Stake in Navient Co. (NASDAQ:NAVI)

Northwestern Mutual Investment Management Company LLC lowered its position in Navient Co. (NASDAQ:NAVIGet Rating) by 4.3% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 25,577 shares of the credit services provider’s stock after selling 1,140 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Navient were worth $436,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NAVI. New York State Common Retirement Fund increased its stake in shares of Navient by 22.6% in the 1st quarter. New York State Common Retirement Fund now owns 142,812 shares of the credit services provider’s stock worth $2,434,000 after acquiring an additional 26,342 shares during the last quarter. Brookstone Capital Management increased its stake in shares of Navient by 25.1% in the 1st quarter. Brookstone Capital Management now owns 35,897 shares of the credit services provider’s stock worth $574,000 after acquiring an additional 7,211 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Navient by 2.2% in the 1st quarter. Empowered Funds LLC now owns 93,420 shares of the credit services provider’s stock worth $1,592,000 after acquiring an additional 1,978 shares during the last quarter. Kahn Brothers Group Inc. increased its stake in shares of Navient by 19.3% in the 1st quarter. Kahn Brothers Group Inc. now owns 27,786 shares of the credit services provider’s stock worth $473,000 after acquiring an additional 4,500 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its stake in shares of Navient by 27.7% in the 4th quarter. Allianz Asset Management GmbH now owns 2,150,314 shares of the credit services provider’s stock worth $45,630,000 after acquiring an additional 467,052 shares during the last quarter. Hedge funds and other institutional investors own 80.27% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NAVI. Keefe, Bruyette & Woods cut their price objective on Navient from $18.00 to $17.00 in a research report on Monday, July 11th. Compass Point cut their price objective on Navient to $15.00 in a research report on Monday, July 25th. Barclays dropped their target price on Navient from $25.00 to $18.00 and set an “overweight” rating for the company in a research report on Monday, July 11th. Finally, Citigroup lifted their target price on Navient from $16.00 to $18.00 in a research report on Thursday, July 28th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $17.86.

Navient Price Performance

NAVI stock opened at $16.87 on Monday. The business has a 50 day moving average price of $14.97 and a 200 day moving average price of $16.18. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of 4.37 and a beta of 1.67. Navient Co. has a fifty-two week low of $12.45 and a fifty-two week high of $23.80. The company has a quick ratio of 15.69, a current ratio of 15.69 and a debt-to-equity ratio of 23.14.

Navient (NASDAQ:NAVIGet Rating) last released its quarterly earnings results on Tuesday, July 26th. The credit services provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.82 by $0.09. Navient had a return on equity of 12.79% and a net margin of 18.11%. During the same quarter last year, the business earned $0.94 EPS. Equities research analysts anticipate that Navient Co. will post 3.39 earnings per share for the current fiscal year.

Navient Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 16th. Stockholders of record on Friday, September 2nd will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date is Thursday, September 1st. Navient’s payout ratio is currently 16.58%.

Navient Company Profile

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Navient Corporation provides education loan management and business processing solutions for education, healthcare, and government clients at the federal, state, and local levels in the United States. It operates through three segments: Federal Education Loans, Consumer Lending, and Business Processing.

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