Macquarie Group Ltd. Continues to Hold Position in Navient Corp. (NAVI)
Macquarie Group Ltd. maintained its stake in Navient Corp. (NASDAQ:NAVI) during the second quarter, Holdings Channel reports. The firm owned 10,500 shares of the company’s stock at the end of the second quarter. Macquarie Group Ltd.’s holdings in Navient Corp. were worth $125,000 as of its most recent filing with the SEC.
Other large investors have also bought and sold shares of the company. A.R.T. Advisors LLC acquired a new stake in Navient Corp. during the first quarter valued at approximately $1,674,000. Envestnet Asset Management Inc. increased its stake in Navient Corp. by 36.9% in the first quarter. Envestnet Asset Management Inc. now owns 156,871 shares of the company’s stock valued at $1,878,000 after buying an additional 42,295 shares in the last quarter. Legal & General Group Plc increased its stake in Navient Corp. by 11.2% in the first quarter. Legal & General Group Plc now owns 1,817,596 shares of the company’s stock valued at $21,757,000 after buying an additional 182,611 shares in the last quarter. UBS Asset Management Americas Inc. increased its stake in Navient Corp. by 13.3% in the first quarter. UBS Asset Management Americas Inc. now owns 1,016,737 shares of the company’s stock valued at $12,170,000 after buying an additional 119,151 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its stake in Navient Corp. by 333.4% in the first quarter. Meeder Asset Management Inc. now owns 136,893 shares of the company’s stock valued at $1,640,000 after buying an additional 105,306 shares in the last quarter. Institutional investors and hedge funds own 95.21% of the company’s stock.
Navient Corp. (NASDAQ:NAVI) opened at 14.78 on Thursday. Navient Corp. has a 52-week low of $8.20 and a 52-week high of $14.92. The firm has a market cap of $4.69 billion, a P/E ratio of 6.28 and a beta of 2.31. The company’s 50 day moving average is $14.23 and its 200-day moving average is $13.28.
Navient Corp. (NASDAQ:NAVI) last issued 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. Navient Corp. had a net margin of 16.75% and a return on equity of 16.77%. On average, equities analysts predict that Navient Corp. will post $1.88 EPS for the current fiscal year.
The company 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. This represents a $0.64 annualized dividend and a dividend yield of 4.33%. The ex-dividend date of this dividend was Wednesday, August 31st. Navient Corp.’s dividend payout ratio is 27.47%.
Several equities research analysts recently commented on the stock. BMO Capital Markets set a $17.00 target price on shares of Navient Corp. and gave the stock a “hold” rating in a research report on Thursday, July 21st. Goldman Sachs Group Inc. downgraded 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 report on Wednesday, July 20th. Zacks Investment Research downgraded shares of Navient Corp. from a “hold” rating to a “sell” rating in a research report on Friday, July 22nd. Finally, Credit Suisse Group AG restated a “buy” rating on shares of Navient Corp. in a research report on Wednesday, June 8th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. Navient Corp. presently has an average rating of “Buy” and a consensus target price of $15.57.
In other news, Director Bates Ann Torre sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $14.23, for a total value of $128,070.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William M. Diefenderfer III sold 16,300 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 88,737 shares in the company, valued at approximately $1,260,065.40. The disclosure for this sale can be found here. 1.05% of the stock is currently owned by insiders.
Navient Corp. Company Profile
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.
Want to see what other hedge funds are holding NAVI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Navient Corp. (NASDAQ:NAVI).
Receive News & Ratings for Navient Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Navient Corp. and related companies with MarketBeat.com's FREE daily email newsletter.