Stone Ridge Asset Management LLC Buys New Holdings in Navient Corp (NAVI)

Stone Ridge Asset Management LLC bought a new position in Navient Corp (NASDAQ:NAVI) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 10,622 shares of the credit services provider’s stock, valued at approximately $141,000.

A number of other institutional investors have also recently modified their holdings of the business. Prudential Financial Inc. raised its holdings in Navient by 3.4% in the third quarter. Prudential Financial Inc. now owns 5,888,964 shares of the credit services provider’s stock worth $88,452,000 after buying an additional 192,614 shares during the last quarter. Guggenheim Capital LLC raised its holdings in Navient by 36.0% in the fourth quarter. Guggenheim Capital LLC now owns 4,210,295 shares of the credit services provider’s stock worth $56,081,000 after buying an additional 1,114,823 shares during the last quarter. Alps Advisors Inc. raised its holdings in Navient by 13.8% in the fourth quarter. Alps Advisors Inc. now owns 3,816,609 shares of the credit services provider’s stock worth $50,837,000 after buying an additional 463,382 shares during the last quarter. Eaton Vance Management raised its holdings in Navient by 5,718.6% in the fourth quarter. Eaton Vance Management now owns 3,551,030 shares of the credit services provider’s stock worth $47,300,000 after buying an additional 3,490,001 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Navient in the fourth quarter worth about $46,993,000. 97.87% of the stock is owned by institutional investors and hedge funds.

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Shares of NAVI stock opened at $13.44 on Friday. Navient Corp has a 52 week low of $11.48 and a 52 week high of $16.97. The company has a market capitalization of $3,597.89, a PE ratio of 7.51, a P/E/G ratio of 1.19 and a beta of 2.20. The company has a debt-to-equity ratio of 30.13, a current ratio of 22.35 and a quick ratio of 22.35.

Navient (NASDAQ:NAVI) last announced its quarterly earnings results on Tuesday, January 23rd. The credit services provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. Navient had a net margin of 5.94% and a return on equity of 13.90%. The firm had revenue of $366.00 million during the quarter, compared to analyst estimates of $362.33 million. During the same period in the previous year, the business posted $0.43 earnings per share. equities research analysts anticipate that Navient Corp will post 1.91 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Friday, June 1st will be paid a $0.16 dividend. The ex-dividend date of this dividend is Thursday, May 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.76%. Navient’s dividend payout ratio is presently 35.75%.

NAVI has been the subject of several recent analyst reports. ValuEngine cut shares of Navient from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. BidaskClub cut shares of Navient from a “sell” rating to a “strong sell” rating in a report on Thursday, March 1st. UBS initiated coverage on shares of Navient in a report on Monday, January 8th. They issued a “market perform” rating for the company. Zacks Investment Research cut shares of Navient from a “buy” rating to a “hold” rating in a report on Tuesday, March 13th. Finally, JPMorgan Chase cut shares of Navient from a “neutral” rating to an “underweight” rating in a report on Friday, January 12th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $17.55.

In other news, SVP Stephen M. Hauber sold 17,423 shares of Navient stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $14.40, for a total value of $250,891.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.68% of the company’s stock.

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About Navient

Navient Corporation provides asset management and business processing services to education, health care, and government clients at the federal, state, and local levels in the United States. The company operates in three segments: Federal Family Education Loan Program (FFELP) Loans, Private Education Loans, and Business Services.

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Institutional Ownership by Quarter for Navient (NASDAQ:NAVI)

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