Hsbc Holdings PLC Sells 72,563 Shares of Navient Corporation $NAVI

Hsbc Holdings PLC cut its stake in Navient Corporation (NASDAQ:NAVI) by 58.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,556 shares of the credit services provider’s stock after selling 72,563 shares during the period. Hsbc Holdings PLC’s holdings in Navient were worth $654,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. GAMMA Investing LLC grew its holdings in shares of Navient by 70.5% during the 4th quarter. GAMMA Investing LLC now owns 1,978 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 818 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in Navient in the fourth quarter valued at about $44,000. PNC Financial Services Group Inc. raised its stake in Navient by 39.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,228 shares of the credit services provider’s stock valued at $55,000 after purchasing an additional 1,191 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Navient by 3,045.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 5,127 shares of the credit services provider’s stock worth $67,000 after purchasing an additional 4,964 shares during the period. Finally, Covestor Ltd lifted its position in Navient by 88.0% during the fourth quarter. Covestor Ltd now owns 5,754 shares of the credit services provider’s stock worth $75,000 after purchasing an additional 2,693 shares during the period. 97.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Bank of America assumed coverage on shares of Navient in a research note on Monday, April 20th. They set an “underperform” rating and a $7.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Navient in a report on Wednesday, June 24th. Zacks Research raised shares of Navient from a “strong sell” rating to a “hold” rating in a report on Monday, March 30th. Barclays increased their price target on shares of Navient from $7.00 to $8.00 and gave the stock an “underweight” rating in a research report on Thursday, April 30th. Finally, Morgan Stanley decreased their price objective on shares of Navient from $12.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 16th. Five investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, Navient has a consensus rating of “Reduce” and an average target price of $9.14.

Navient Price Performance

Shares of NAVI stock opened at $8.47 on Thursday. The business has a fifty day simple moving average of $8.24 and a 200 day simple moving average of $9.23. The company has a market cap of $796.10 million, a P/E ratio of -13.44 and a beta of 1.19. The company has a quick ratio of 7.67, a current ratio of 7.67 and a debt-to-equity ratio of 16.49. Navient Corporation has a twelve month low of $7.33 and a twelve month high of $14.94.

Navient (NASDAQ:NAVI) last released its earnings results on Tuesday, April 28th. The credit services provider reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. The firm had revenue of $152.00 million for the quarter, compared to analysts’ expectations of $141.47 million. Navient had a positive return on equity of 4.39% and a negative net margin of 1.94%.During the same quarter in the previous year, the business posted $0.25 earnings per share. On average, sell-side analysts forecast that Navient Corporation will post 0.69 EPS for the current fiscal year.

Navient Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 19th. Investors of record on Friday, June 5th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $0.64 annualized dividend and a dividend yield of 7.6%. Navient’s payout ratio is -101.59%.

About Navient

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.