LMR Partners LLP Purchases 5,360 Shares of Navient Corp. (NAVI)
LMR Partners LLP raised its position in shares of Navient Corp. (NASDAQ:NAVI) by 15.3% during the second quarter, Holdings Channel reports. The institutional investor owned 40,458 shares of the company’s stock after buying an additional 5,360 shares during the period. LMR Partners LLP’s holdings in Navient Corp. were worth $483,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of NAVI. Mount Lucas Management LP acquired a new stake in Navient Corp. during the first quarter worth approximately $11,937,000. JPMorgan Chase & Co. increased its stake in Navient Corp. by 30.9% in the first quarter. JPMorgan Chase & Co. now owns 3,982,867 shares of the company’s stock valued at $47,675,000 after buying an additional 939,208 shares in the last quarter. Barclays PLC increased its stake in Navient Corp. by 397.7% in the first quarter. Barclays PLC now owns 661,364 shares of the company’s stock valued at $7,276,000 after buying an additional 528,476 shares in the last quarter. Kingstown Capital Management L.P. increased its stake in Navient Corp. by 14.3% in the first quarter. Kingstown Capital Management L.P. now owns 4,000,000 shares of the company’s stock valued at $47,880,000 after buying an additional 500,000 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. increased its stake in Navient Corp. by 136.3% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 734,863 shares of the company’s stock valued at $8,781,000 after buying an additional 423,903 shares in the last quarter. Institutional investors own 95.21% of the company’s stock.
Navient Corp. (NASDAQ:NAVI) traded up 0.21% on Wednesday, reaching $14.14. The company had a trading volume of 1,677,533 shares. Navient Corp. has a 12 month low of $8.20 and a 12 month high of $14.92. The firm has a 50-day moving average of $14.23 and a 200-day moving average of $13.34. The stock has a market capitalization of $4.48 billion, a P/E ratio of 6.00 and a beta of 2.31.
Navient Corp. (NASDAQ:NAVI) last posted its quarterly earnings results on Tuesday, July 19th. The company reported $0.47 EPS for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.03. Navient Corp. had a return on equity of 16.77% and a net margin of 16.75%. On average, equities research analysts expect that Navient Corp. will post $1.88 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Friday, December 2nd will be paid a $0.16 dividend. The ex-dividend date is Wednesday, November 30th. This represents a $0.64 dividend on an annualized basis and a yield of 4.54%. Navient Corp.’s payout ratio is currently 27.47%.
Several research firms recently issued reports on NAVI. Zacks Investment Research upgraded Navient Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, September 20th. BMO Capital Markets set a $17.00 price objective on Navient Corp. and gave the company a “hold” rating in a report on Thursday, July 21st. Finally, Goldman Sachs Group Inc. downgraded Navient Corp. from a “buy” rating to a “neutral” rating and set a $15.00 price objective on the stock. in a report on Wednesday, July 20th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $15.57.
In other Navient Corp. news, 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 completion of the transaction, the director now directly owns 88,737 shares in the company, valued at $1,260,065.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Bates Ann Torre sold 9,000 shares of Navient Corp. 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 disclosure for this sale can be found here. 1.05% of the stock is owned by company insiders.
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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