Navient Corp. (NAVI) Trading 1.8% Higher
Shares of Navient Corp. (NASDAQ:NAVI) traded up 1.8% during trading on Wednesday . The stock traded as high as $14.17 and last traded at $14.16, with a volume of 1,629,099 shares traded. The stock had previously closed at $13.91.
A number of analysts have issued reports on the stock. Compass Point lifted their target price on shares of Navient Corp. from $11.00 to $13.00 and gave the company a “neutral” rating in a research note on Wednesday, April 20th. Zacks Investment Research cut shares of Navient Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, June 21st. Goldman Sachs Group Inc. cut shares of Navient Corp. from a “buy” rating to a “neutral” rating and set a $15.00 target price for the company. in a research note on Wednesday, July 20th. BMO Capital Markets set a $17.00 target price on shares of Navient Corp. and gave the company a “hold” rating in a research note on Thursday, July 21st. Finally, Credit Suisse Group AG reiterated a “buy” rating on shares of Navient Corp. in a research note on Wednesday, June 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $17.00.
The company’s 50-day moving average price is $13.50 and its 200-day moving average price is $12.33. The stock has a market cap of $4.61 billion and a P/E ratio of 6.17.
Navient Corp. (NASDAQ:NAVI) last announced its quarterly earnings results on Tuesday, July 19th. The company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.03. On average, equities research analysts forecast that Navient Corp. will post $1.87 EPS 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 paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $0.64 dividend on an annualized basis and a yield of 4.40%.
In related news, Director Bates Ann Torre sold 9,000 shares of the stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $14.23, for a total transaction of $128,070.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Other hedge funds have bought and sold shares of the company. Mitsubishi UFJ Kokusai Asset Management CO. LTD. boosted its stake in 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 during the last quarter. Victory Capital Management Inc. increased its position in 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 during the period. US Bancorp DE increased its position in 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 during the period. Systematic Financial Management LP purchased a new position in Navient Corp. during the fourth quarter worth $1,681,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in Navient Corp. by 547.7% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 199,500 shares of the company’s stock worth $2,284,000 after buying an additional 168,700 shares during the period.
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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