Navient Corp. (NAVI) Hits New 52-Week High at $14.67
Navient Corp. (NASDAQ:NAVI) reached a new 52-week high during trading on Wednesday . The company traded as high as $14.67 and last traded at $14.47, with a volume of 905,662 shares. The stock had previously closed at $14.51.
A number of equities research analysts have recently commented on NAVI shares. Credit Suisse Group AG reiterated a “buy” rating on shares of Navient Corp. in a research note on Wednesday, June 8th. 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 price objective on Navient Corp. and gave the stock a “hold” rating in a report on Thursday, July 21st. Finally, Goldman Sachs Group Inc. lowered Navient Corp. from a “buy” rating to a “neutral” rating and set a $15.00 price objective for the company. in a report on Wednesday, July 20th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $17.00.
The company has a market capitalization of $4.55 billion and a price-to-earnings ratio of 6.09. The firm’s 50-day moving average price is $13.95 and its 200-day moving average price is $12.54.
Navient Corp. (NASDAQ:NAVI) last released its earnings results on Tuesday, July 19th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.03. On average, equities research analysts expect that Navient Corp. will post $1.87 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 16th. Stockholders of record on Friday, September 2nd will be paid a $0.16 dividend. The ex-dividend date is Wednesday, August 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.46%.
In other news, Director William M. Diefenderfer III sold 16,300 shares of the company’s stock in a transaction on Friday, August 19th. The stock was sold at an average price of $14.20, for a total transaction of $231,460.00. Following the transaction, the director now directly owns 88,737 shares of the company’s stock, valued at $1,260,065.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Bates Ann Torre sold 9,000 shares of the company’s stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $14.23, for a total value of $128,070.00. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have made changes to their positions in NAVI. Morgan Stanley increased its position in shares of Navient Corp. by 11.2% in the fourth quarter. Morgan Stanley now owns 1,167,474 shares of the company’s stock worth $13,367,000 after buying an additional 117,313 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased 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 worth $2,284,000 after buying an additional 168,700 shares during the last quarter. US Bancorp DE increased 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 worth $1,509,000 after buying an additional 15,649 shares during the last quarter. Finally, Victory Capital Management Inc. increased 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 worth $1,443,000 after buying an additional 25,046 shares during 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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