McIlrath & Eck LLC Cuts Stock Position in Navient Co. (NASDAQ:NAVI)

McIlrath & Eck LLC trimmed its position in Navient Co. (NASDAQ:NAVI) by 18.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,117 shares of the credit services provider’s stock after selling 945 shares during the period. McIlrath & Eck LLC’s holdings in Navient were worth $77,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of NAVI. CWM LLC boosted its position in Navient by 314.6% during the third quarter. CWM LLC now owns 2,193 shares of the credit services provider’s stock worth $38,000 after purchasing an additional 1,664 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of Navient by 367.7% in the third quarter. Exchange Traded Concepts LLC now owns 6,795 shares of the credit services provider’s stock worth $117,000 after acquiring an additional 5,342 shares during the last quarter. Meritage Portfolio Management boosted its stake in shares of Navient by 5.5% during the third quarter. Meritage Portfolio Management now owns 29,612 shares of the credit services provider’s stock valued at $510,000 after acquiring an additional 1,540 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Navient by 156.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 18,480 shares of the credit services provider’s stock worth $318,000 after purchasing an additional 11,267 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in Navient by 24.8% during the third quarter. Assenagon Asset Management S.A. now owns 541,674 shares of the credit services provider’s stock worth $9,328,000 after acquiring an additional 107,543 shares during the last quarter. 97.14% of the stock is owned by institutional investors and hedge funds.

Navient Stock Down 0.1 %

NASDAQ:NAVI traded down $0.02 during trading hours on Thursday, hitting $15.40. The stock had a trading volume of 58,210 shares, compared to its average volume of 924,346. The company has a market cap of $1.72 billion, a PE ratio of 9.88 and a beta of 1.39. The business has a 50 day simple moving average of $16.49 and a two-hundred day simple moving average of $17.04. Navient Co. has a 1-year low of $14.10 and a 1-year high of $19.69. The company has a current ratio of 12.52, a quick ratio of 12.52 and a debt-to-equity ratio of 18.38.

Navient (NASDAQ:NAVI) last issued its quarterly earnings results on Wednesday, April 24th. The credit services provider reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. The firm had revenue of $163.00 million during the quarter, compared to the consensus estimate of $188.04 million. Navient had a return on equity of 12.09% and a net margin of 3.93%. Analysts predict that Navient Co. will post 1.69 EPS for the current year.

Navient Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.16 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.16%. Navient’s dividend payout ratio (DPR) is presently 41.03%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NAVI. JPMorgan Chase & Co. reduced their price target on Navient from $17.00 to $16.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Keefe, Bruyette & Woods reduced their target price on Navient from $19.00 to $17.00 and set a “market perform” rating on the stock in a research report on Thursday, April 25th. StockNews.com cut Navient from a “buy” rating to a “hold” rating in a report on Thursday, February 1st. Barclays decreased their target price on shares of Navient from $13.00 to $11.00 and set an “underweight” rating on the stock in a research report on Thursday, April 25th. Finally, TD Cowen lowered their target price on shares of Navient from $14.00 to $13.00 and set a “sell” rating for the company in a report on Friday, April 26th. Three research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $16.10.

Navient Company Profile

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.