Navient Corp. (NAVI) Position Boosted by BlackRock Advisors LLC
BlackRock Advisors LLC boosted its position in shares of Navient Corp. (NASDAQ:NAVI) by 0.6% during the second quarter, Holdings Channel reports. The institutional investor owned 375,891 shares of the company’s stock after buying an additional 2,117 shares during the period. BlackRock Advisors LLC owned 0.12% of Navient Corp. worth $4,492,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Balasa Dinverno & Foltz LLC purchased a new stake in Navient Corp. during the second quarter worth $122,000. BB&T Securities LLC purchased a new stake in Navient Corp. during the first quarter worth $124,000. Private Advisor Group LLC purchased a new stake in Navient Corp. during the second quarter worth $133,000. ING Groep NV purchased a new stake in Navient Corp. during the second quarter worth $140,000. Finally, Fox Run Management L.L.C. purchased a new stake in Navient Corp. during the second quarter worth $172,000. Institutional investors and hedge funds own 95.19% of the company’s stock.
Navient Corp. (NASDAQ:NAVI) opened at 13.61 on Wednesday. The firm’s 50-day moving average is $14.16 and its 200-day moving average is $13.41. The stock has a market capitalization of $4.31 billion, a price-to-earnings ratio of 5.78 and a beta of 2.31. Navient Corp. has a 52-week low of $8.20 and a 52-week high of $14.92.
Navient Corp. (NASDAQ:NAVI) last announced its quarterly earnings results on Tuesday, October 18th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Navient Corp. had a return on equity of 16.77% and a net margin of 16.75%. The business earned $405 million during the quarter, compared to analysts’ expectations of $391.75 million. During the same quarter last year, the business posted $0.47 earnings per share. The business’s revenue for the quarter was down 12.0% on a year-over-year basis. Analysts predict that Navient Corp. will post $1.88 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Friday, December 2nd will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.70%. The ex-dividend date of this dividend is Wednesday, November 30th. Navient Corp.’s dividend payout ratio is currently 27.47%.
A number of analysts have recently weighed in on NAVI shares. Zacks Investment Research cut shares of 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 target on shares of Navient Corp. and gave the company a “hold” rating in a report on Thursday, July 21st. Finally, Goldman Sachs Group Inc. cut shares of Navient Corp. from a “buy” rating to a “neutral” rating and set a $15.00 price target on the stock. in a report on Wednesday, July 20th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Navient Corp. has a consensus rating of “Buy” and a consensus price target of $15.57.
In other news, Director William M. Diefenderfer III sold 16,300 shares of the firm’s stock in a transaction 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 owns 88,737 shares in the company, valued at $1,260,065.40. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Bates Ann Torre sold 9,000 shares of the firm’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. 1.05% of the stock is 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.
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