Navient Corp. (NAVI) Reaches New 52-Week High at $14.67
Navient Corp. (NASDAQ:NAVI) reached a new 52-week high on Wednesday . The stock traded as high as $14.67 and last traded at $14.47, with a volume of 905,662 shares traded. The stock had previously closed at $14.51.
Several equities research analysts recently weighed in on the company. Goldman Sachs Group Inc. lowered Navient Corp. from a “buy” rating to a “neutral” rating and set a $15.00 target price for the company. in a report on Wednesday, July 20th. Zacks Investment Research lowered Navient Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, June 21st. BMO Capital Markets set a $17.00 target price on Navient Corp. and gave the stock a “hold” rating in a report on Thursday, July 21st. Finally, Credit Suisse Group AG restated a “buy” rating on shares of Navient Corp. in a report on Wednesday, June 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $17.00.
The firm has a market capitalization of $4.58 billion and a P/E ratio of 6.13. The company has a 50-day moving average price of $13.81 and a 200 day moving average price of $12.52.
Navient Corp. (NASDAQ:NAVI) last posted its quarterly earnings data on Tuesday, July 19th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.03. Equities research analysts anticipate that Navient Corp. will post $1.87 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 16th. Investors of record on Friday, September 2nd will be issued 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 dividend yield of 4.41%.
In other news, Director Bates Ann Torre sold 9,000 shares of Navient Corp. 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director William M. Diefenderfer III sold 16,300 shares of Navient Corp. stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $14.20, for a total value of $231,460.00. Following the transaction, the director now owns 88,737 shares of the company’s stock, valued at $1,260,065.40. The disclosure for this sale can be found here.
A number of institutional investors recently made changes to their positions in NAVI. Victory Capital Management Inc. boosted its position 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 valued at $1,443,000 after buying an additional 25,046 shares in the last quarter. US Bancorp DE boosted its position 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 valued at $1,509,000 after buying an additional 15,649 shares in the last quarter. Systematic Financial Management LP bought a new position in shares of Navient Corp. during the fourth quarter valued at $1,681,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of 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 valued at $2,284,000 after buying an additional 168,700 shares in the last quarter. Finally, Marshall Wace LLP boosted its position 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 valued at $2,759,000 after buying an additional 229,908 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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