Navient Corp. (NAVI) Shares Down 3.6%
Navient Corp. (NASDAQ:NAVI) was down 3.6% on Wednesday . The company traded as low as $13.66 and last traded at $13.70, with a volume of 1,591,122 shares. The stock had previously closed at $14.21.
A number of equities research analysts have recently weighed in on NAVI shares. Zacks Investment Research upgraded shares of Navient Corp. from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a report on Monday, April 25th. Credit Suisse Group AG reiterated a “buy” rating on shares of Navient Corp. in a report on Wednesday, June 8th. BMO Capital Markets set a $17.00 price target on shares of Navient Corp. and gave the company a “hold” rating in a report on Thursday, July 21st. Goldman Sachs Group Inc. lowered shares of Navient Corp. from a “buy” rating to a “neutral” rating and set a $15.00 price target for the company. in a report on Wednesday, July 20th. Finally, Compass Point upped their price target on shares of Navient Corp. from $11.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, April 20th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $17.00.
The stock’s 50-day moving average price is $13.24 and its 200 day moving average price is $12.17. The company has a market cap of $4.31 billion and a price-to-earnings ratio of 5.78.
Navient Corp. (NASDAQ:NAVI) last posted its earnings results on Tuesday, July 19th. The company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.03. On average, analysts predict that Navient Corp. will post $1.87 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 16th. Investors 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 4.70%. The ex-dividend date of this dividend is Wednesday, August 31st.
In related news, Director Bates Ann Torre sold 9,000 shares of the firm’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $14.23, for a total value of $128,070.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Other hedge funds recently modified their holdings of the company. Systematic Financial Management LP bought a new stake in shares of Navient Corp. during the fourth quarter worth about $1,681,000. US Bancorp DE increased its stake in shares of Navient Corp. by 13.5% in the fourth quarter. US Bancorp DE now owns 131,870 shares of the company’s stock worth $1,509,000 after buying an additional 15,649 shares in the last quarter. Marshall Wace LLP increased its stake in shares of Navient Corp. by 2,085.9% in the fourth quarter. Marshall Wace LLP now owns 240,930 shares of the company’s stock worth $2,759,000 after buying an additional 229,908 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Navient Corp. by 24.8% in the fourth quarter. Victory Capital Management Inc. now owns 126,065 shares of the company’s stock worth $1,443,000 after buying an additional 25,046 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management CO. LTD. increased its stake in shares of Navient Corp. by 10.7% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 109,651 shares of the company’s stock worth $1,256,000 after buying an additional 10,566 shares in the last quarter.
Navient Corporation is a loan management, servicing and asset recovery company. The Company holds the portfolio of education loans insured or guaranteed under the Federal Family Education Loan Program (FFELP), as well as the portfolio of Private Education Loans. FFELP Loans are insured or guaranteed by state based on guaranty agreements among the United States Department of Education (ED) and these agencies.
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