Navient Corp. (NAVI) Shares Down 2.5%
Navient Corp. (NASDAQ:NAVI) shares were down 2.5% during trading on Wednesday . The stock traded as low as $13.26 and last traded at $13.45, with a volume of 3,618,688 shares traded. The stock had previously closed at $13.79.
Several research analysts 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 upgraded shares of Navient Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday. BMO Capital Markets set a $17.00 price target on shares of Navient Corp. and gave the company a “hold” rating in a research note on Thursday, July 21st. Finally, Goldman Sachs Group Inc. lowered shares of Navient Corp. from a “buy” rating to a “neutral” rating and set a $15.00 price target on the stock. in a research note on Wednesday, July 20th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $15.57.
The company’s 50 day moving average is $14.14 and its 200-day moving average is $13.09. The firm has a market cap of $4.21 billion, a price-to-earnings ratio of 5.64 and a beta of 2.32.
Navient Corp. (NASDAQ:NAVI) last announced its 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. Navient Corp. had a net margin of 16.75% and a return on equity of 16.77%. On average, analysts predict that Navient Corp. will post $1.87 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, September 2nd were issued a $0.16 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.82%. Navient Corp.’s payout ratio is 27.47%.
In related news, Director William M. Diefenderfer III sold 16,300 shares of Navient Corp. stock in a transaction on Friday, August 19th. The shares were sold at an average price of $14.20, for a total value of $231,460.00. Following the transaction, the director now directly owns 88,737 shares in the company, valued at approximately $1,260,065.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Bates Ann Torre sold 9,000 shares of Navient Corp. stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $14.23, for a total transaction of $128,070.00. The disclosure for this sale can be found here. 1.05% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of the stock. Thrivent Financial for Lutherans purchased a new position in Navient Corp. during the second quarter worth $121,000. Balasa Dinverno & Foltz LLC purchased a new position in Navient Corp. during the second quarter worth $122,000. BB&T Securities LLC purchased a new position in Navient Corp. during the first quarter worth $124,000. IFP Advisors Inc raised its position in Navient Corp. by 25.9% in the second quarter. IFP Advisors Inc now owns 10,844 shares of the company’s stock worth $130,000 after buying an additional 2,232 shares during the period. Finally, Private Advisor Group LLC purchased a new position in Navient Corp. during the second quarter worth $133,000. Hedge funds and other institutional investors own 95.21% of the company’s stock.
About Navient Corp.
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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