Navient Corp. (NAVI) Stock Price Down 2.4%
Navient Corp. (NASDAQ:NAVI)’s share price traded down 2.4% on Friday . The company traded as low as $14.17 and last traded at $14.21, with a volume of 1,224,538 shares changing hands. The stock had previously closed at $14.56.
NAVI has been the topic of several research analyst reports. BMO Capital Markets set a $17.00 price objective 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 target price for the company. in a research note on Wednesday, July 20th. Zacks Investment Research raised shares of Navient Corp. from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Monday, April 25th. Finally, Credit Suisse Group AG reissued a “buy” rating on shares of Navient Corp. in a research note on Wednesday, June 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $17.00.
The company’s 50-day moving average is $13.73 and its 200-day moving average is $12.39. The firm has a market capitalization of $4.49 billion and a P/E ratio of 6.01.
Navient Corp. (NASDAQ:NAVI) last posted its quarterly earnings data on Tuesday, July 19th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.03. On average, equities analysts anticipate that Navient Corp. will post $1.87 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 16th. Investors of record on Friday, September 2nd will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $0.64 annualized dividend and a yield of 4.52%.
In other news, Director Bates Ann Torre sold 9,000 shares of the stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $14.23, for a total transaction of $128,070.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
A number of large investors recently modified their holdings of the company. Mitsubishi UFJ Kokusai Asset Management CO. LTD. increased its stake in shares of Navient Corp. by 10.7% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 109,651 shares of the company’s stock worth $1,256,000 after buying an additional 10,566 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake 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 in the last quarter. Morgan Stanley increased its stake 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 in the last quarter. US Bancorp DE increased its stake 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 in the last quarter. Finally, Systematic Financial Management LP acquired a new stake in shares of Navient Corp. during the fourth quarter worth $1,681,000.
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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