Ajo LP Grows Holdings in Navient Corporation (NAVI)
Ajo LP boosted its position in shares of Navient Corporation (NASDAQ:NAVI) by 7,682.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,250,081 shares of the credit services provider’s stock after purchasing an additional 1,234,019 shares during the period. Ajo LP owned about 0.46% of Navient Corporation worth $20,814,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in NAVI. Canada Pension Plan Investment Board increased its holdings in Navient Corporation by 107.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 59,000 shares of the credit services provider’s stock worth $871,000 after purchasing an additional 30,500 shares in the last quarter. First Trust Advisors LP increased its holdings in Navient Corporation by 4.4% during the 1st quarter. First Trust Advisors LP now owns 653,697 shares of the credit services provider’s stock worth $9,649,000 after purchasing an additional 27,544 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings in Navient Corporation by 45.9% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 27,717 shares of the credit services provider’s stock worth $424,000 after purchasing an additional 8,716 shares in the last quarter. Suntrust Banks Inc. increased its holdings in Navient Corporation by 18.1% during the 1st quarter. Suntrust Banks Inc. now owns 12,134 shares of the credit services provider’s stock worth $178,000 after purchasing an additional 1,864 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its holdings in Navient Corporation by 164.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 242,217 shares of the credit services provider’s stock worth $3,575,000 after purchasing an additional 150,788 shares in the last quarter. Hedge funds and other institutional investors own 92.65% of the company’s stock.
A number of equities analysts have issued reports on the company. Zacks Investment Research upgraded Navient Corporation from a “sell” rating to a “hold” rating in a report on Wednesday. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $20.00 target price on shares of Navient Corporation in a report on Friday, July 14th. BidaskClub cut Navient Corporation from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Compass Point upgraded Navient Corporation from a “neutral” rating to a “buy” rating and set a $16.50 target price for the company in a report on Tuesday, September 5th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $16.00 target price (down previously from $17.00) on shares of Navient Corporation in a report on Thursday, July 20th. One analyst has rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $18.23.
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Navient Corporation (NASDAQ NAVI) opened at 14.44 on Thursday. Navient Corporation has a one year low of $12.66 and a one year high of $17.95. The stock has a 50 day moving average price of $13.97 and a 200 day moving average price of $14.83. The company has a market cap of $3.96 billion, a PE ratio of 7.49 and a beta of 2.44.
Navient Corporation (NASDAQ:NAVI) last posted its earnings results on Tuesday, July 18th. The credit services provider reported $0.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.02. Navient Corporation had a net margin of 11.50% and a return on equity of 14.05%. The company had revenue of $343.00 million for the quarter, compared to analyst estimates of $331.67 million. During the same quarter in the prior year, the business posted $0.47 EPS. The firm’s revenue was down 15.9% compared to the same quarter last year. On average, equities analysts anticipate that Navient Corporation will post $1.76 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a $0.16 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.43%. Navient Corporation’s dividend payout ratio is presently 33.68%.
Navient Corporation Profile
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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