Denver Investment Advisors LLC Invests $1.60 Million in Navient Corporation (NAVI)
Denver Investment Advisors LLC bought a new stake in shares of Navient Corporation (NASDAQ:NAVI) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 96,122 shares of the credit services provider’s stock, valued at approximately $1,600,000.
Other hedge funds have also recently modified their holdings of the company. Bronfman E.L. Rothschild L.P. raised its stake in shares of Navient Corporation by 1.7% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 6,952 shares of the credit services provider’s stock valued at $103,000 after buying an additional 118 shares during the last quarter. Coconut Grove Bank raised its stake in shares of Navient Corporation by 107.1% in the first quarter. Coconut Grove Bank now owns 6,960 shares of the credit services provider’s stock valued at $103,000 after buying an additional 3,600 shares during the last quarter. Creative Planning raised its stake in shares of Navient Corporation by 7.2% in the second quarter. Creative Planning now owns 7,066 shares of the credit services provider’s stock valued at $118,000 after buying an additional 472 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new stake in shares of Navient Corporation during the first quarter valued at about $112,000. Finally, Grove Bank & Trust raised its stake in shares of Navient Corporation by 33.3% in the second quarter. Grove Bank & Trust now owns 9,280 shares of the credit services provider’s stock valued at $154,000 after buying an additional 2,320 shares during the last quarter. Hedge funds and other institutional investors own 96.37% of the company’s stock.
Navient Corporation (NASDAQ NAVI) opened at 13.64 on Friday. The stock has a market capitalization of $3.74 billion, a PE ratio of 7.07 and a beta of 2.43. Navient Corporation has a 52-week low of $12.66 and a 52-week high of $17.95. The company’s 50-day moving average price is $15.19 and its 200 day moving average price is $15.05.
Navient Corporation (NASDAQ:NAVI) last posted its quarterly earnings results on Tuesday, July 18th. The credit services provider reported $0.43 EPS for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.02. The business had revenue of $343 million for the quarter, compared to analysts’ expectations of $331.67 million. Navient Corporation had a return on equity of 14.05% and a net margin of 11.50%. The business’s quarterly revenue was down 15.9% on a year-over-year basis. During the same period last year, the firm earned $0.47 earnings per share. Equities analysts forecast that Navient Corporation will post $1.76 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be issued a dividend of $0.16 per share. The ex-dividend date is Wednesday, August 30th. This represents a $0.64 dividend on an annualized basis and a yield of 4.69%. Navient Corporation’s dividend payout ratio is presently 33.68%.
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Several equities analysts have recently weighed in on NAVI shares. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $20.00 price target on shares of Navient Corporation in a research report on Friday, July 14th. BidaskClub cut Navient Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. BMO Capital Markets reiterated a “hold” rating and issued a $16.00 price target (down from $17.00) on shares of Navient Corporation in a research report on Thursday, July 20th. Stifel Nicolaus lifted their price target on Navient Corporation from $24.00 to $26.00 and gave the company a “hold” rating in a research report on Monday, June 12th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $16.00 price target on shares of Navient Corporation in a research report on Friday, July 21st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $18.55.
About Navient Corporation
Navient Corporation provides asset management and business processing services to education, healthcare and government clients at the federal, state and local levels. The Company holds the portfolio of education loans insured or federally guaranteed under the Federal Family Education Loan Program (FFELP).
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