Hsbc Holdings PLC Buys Shares of 127,615 Navient Corporation $NAVI

Hsbc Holdings PLC purchased a new stake in shares of Navient Corporation (NASDAQ:NAVI) in the second quarter, HoldingsChannel.com reports. The fund purchased 127,615 shares of the credit services provider’s stock, valued at approximately $1,093,000.

Several other institutional investors have also modified their holdings of NAVI. Kestra Advisory Services LLC acquired a new stake in shares of Navient in the 4th quarter worth approximately $44,000. PNC Financial Services Group Inc. boosted its position in Navient by 39.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,228 shares of the credit services provider’s stock worth $55,000 after purchasing an additional 1,191 shares in the last quarter. Versant Capital Management Inc boosted its position in Navient by 552.6% during the second quarter. Versant Capital Management Inc now owns 4,855 shares of the credit services provider’s stock worth $41,000 after purchasing an additional 4,111 shares in the last quarter. Parallel Advisors LLC grew its holdings in Navient by 325.6% in the first quarter. Parallel Advisors LLC now owns 5,005 shares of the credit services provider’s stock valued at $41,000 after purchasing an additional 3,829 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Navient by 3,045.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 5,127 shares of the credit services provider’s stock valued at $67,000 after purchasing an additional 4,964 shares during the last quarter. Hedge funds and other institutional investors own 97.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Navient in a research note on Wednesday, June 24th. JPMorgan Chase & Co. lowered their price objective on shares of Navient from $9.50 to $8.00 and set a “neutral” rating on the stock in a research note on Monday, July 13th. Finally, TD Cowen restated a “sell” rating on shares of Navient in a report on Friday, August 7th. Five equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, Navient has an average rating of “Reduce” and a consensus price target of $9.14.

Navient Price Performance

NAVI stock opened at $9.51 on Tuesday. Navient Corporation has a 1 year low of $7.33 and a 1 year high of $13.87. The company has a debt-to-equity ratio of 16.73, a quick ratio of 10.53 and a current ratio of 10.53. The stock’s 50 day moving average price is $8.77 and its 200 day moving average price is $8.57. The firm has a market cap of $891.85 million, a P/E ratio of -19.02 and a beta of 1.18.

Navient (NASDAQ:NAVI) last announced its earnings results on Thursday, August 6th. The credit services provider reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.09. The firm had revenue of $150.00 million for the quarter, compared to analysts’ expectations of $142.87 million. Navient had a positive return on equity of 4.68% and a negative net margin of 1.64%.During the same quarter in the prior year, the firm earned $0.20 EPS. On average, sell-side analysts expect that Navient Corporation will post 0.76 earnings per share for the current fiscal year.

Navient Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 6.7%. The ex-dividend date is Friday, September 4th. Navient’s dividend payout ratio (DPR) is currently -128.00%.

Navient Profile

Navient Corporation (NASDAQ: NAVI) is a specialized provider of asset management and business processing solutions, with a primary focus on student loan servicing. Established in 2014 through the separation from Sallie Mae, Navient assumed responsibility for servicing federal and private education loans, positioning itself as one of the largest servicers of higher education debt in the United States.

The company’s core activities center on federal student loan servicing under contracts with the U.S.