Navient Corp. (NAVI) Trading 1.8% Higher
Navient Corp. (NASDAQ:NAVI) traded up 1.8% during mid-day trading on Wednesday . The stock traded as high as $14.17 and last traded at $14.16, with a volume of 1,629,099 shares trading hands. The stock had previously closed at $13.91.
Several equities research analysts recently weighed in on NAVI shares. Zacks Investment Research upgraded 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. Goldman Sachs Group Inc. cut shares of Navient Corp. from a “buy” rating to a “neutral” rating and set a $15.00 price target for the company. in a research note on Wednesday, July 20th. BMO Capital Markets set a $17.00 price target on shares of Navient Corp. and gave the stock a “hold” rating in a research note on Thursday, July 21st. Finally, Credit Suisse Group AG restated 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 assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $17.00.
The company has a market capitalization of $4.62 billion and a price-to-earnings ratio of 6.18. The firm’s 50 day moving average price is $13.67 and its 200 day moving average price is $12.36.
Navient Corp. (NASDAQ:NAVI) last announced its quarterly earnings results on Tuesday, July 19th. The company reported $0.47 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.03. On average, equities research analysts expect that Navient Corp. will post $1.87 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 16th. Investors of record on Friday, September 2nd will be paid a $0.16 dividend. The ex-dividend date is Wednesday, August 31st. This represents a $0.64 dividend on an annualized basis and a yield of 4.40%.
In related news, Director Bates Ann Torre sold 9,000 shares of the company’s stock in a transaction dated 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 document filed with the SEC, which is accessible through the SEC website.
A number of hedge funds and institutional investors recently made changes to their positions in NAVI. Marshall Wace LLP raised its position in shares of Navient Corp. by 2,085.9% in the fourth quarter. Marshall Wace LLP now owns 240,930 shares of the company’s stock worth $2,759,000 after buying an additional 229,908 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in 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. Systematic Financial Management LP acquired a new stake in Navient Corp. during the fourth quarter worth about $1,681,000. Morgan Stanley increased its stake in 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. Finally, Victory Capital Management Inc. increased its stake in Navient Corp. by 24.8% in the fourth quarter. Victory Capital Management Inc. now owns 126,065 shares of the company’s stock worth $1,443,000 after buying an additional 25,046 shares in the last quarter.
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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