Navient Corp. Plans Quarterly Dividend of $0.16 (NAVI)
Navient Corp. (NASDAQ:NAVI) declared a quarterly dividend on Friday, October 7th. Investors of record on Friday, December 2nd will be paid a dividend of 0.16 per share on Friday, December 16th. This represents a $0.64 dividend on an annualized basis and a yield of 4.40%. The ex-dividend date of this dividend is Wednesday, November 30th.
Shares of Navient Corp. (NASDAQ:NAVI) traded down 1.02% during trading on Friday, reaching $14.56. The company had a trading volume of 2,299,549 shares. The stock’s 50-day moving average price is $14.23 and its 200-day moving average price is $13.29. Navient Corp. has a 52 week low of $8.20 and a 52 week high of $14.92. The company has a market capitalization of $4.62 billion, a PE ratio of 6.18 and a beta of 2.31.
Navient Corp. (NASDAQ:NAVI) last released its quarterly earnings data on Tuesday, July 19th. The company reported $0.47 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.03. Navient Corp. had a return on equity of 16.77% and a net margin of 16.75%. On average, equities analysts expect that Navient Corp. will post $1.88 EPS for the current fiscal year.
A number of equities analysts have weighed in on the company. Zacks Investment Research lowered Navient Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, June 21st. Goldman Sachs Group Inc. lowered Navient Corp. from a “buy” rating to a “neutral” rating and set a $15.00 price objective for the company. in a research note on Wednesday, July 20th. Finally, BMO Capital Markets set a $17.00 price objective on Navient Corp. and gave the company a “hold” rating in a research note on Thursday, July 21st. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Navient Corp. presently has an average rating of “Buy” and an average price target of $15.57.
In other Navient Corp. news, Director Bates Ann Torre sold 9,000 shares of the business’s 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William M. Diefenderfer III sold 16,300 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 88,737 shares of the company’s stock, valued at $1,260,065.40. The disclosure for this sale can be found here. Company insiders own 1.05% of the company’s stock.
A number of large investors have recently bought and sold shares of the company. Thrivent Financial for Lutherans bought a new position in shares of Navient Corp. during the second quarter valued at $121,000. Highbridge Capital Management LLC bought a new position in shares of Navient Corp. during the second quarter valued at $178,000. Stevens Capital Management LP bought a new position in shares of Navient Corp. during the second quarter valued at $187,000. Pacer Advisors Inc. boosted its position in shares of Navient Corp. by 460.7% in the second quarter. Pacer Advisors Inc. now owns 28,368 shares of the company’s stock valued at $339,000 after buying an additional 23,309 shares in the last quarter. Finally, Advisor Group Inc. bought a new position in shares of Navient Corp. during the second quarter valued at $370,000. Institutional investors own 95.21% of the company’s stock.
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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