Navient Corp. (NAVI) Stake Boosted by Aperio Group LLC
Aperio Group LLC raised its position in Navient Corp. (NASDAQ:NAVI) by 20.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 349,320 shares of the company’s stock after buying an additional 59,169 shares during the period. Aperio Group LLC owned about 0.12% of Navient Corp. worth $5,055,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. CIBC World Markets Inc. acquired a new position in Navient Corp. during the second quarter worth $946,000. Brookstone Capital Management raised its position in Navient Corp. by 18.9% in the second quarter. Brookstone Capital Management now owns 293,947 shares of the company’s stock worth $3,513,000 after buying an additional 46,702 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in Navient Corp. during the second quarter worth $172,000. Nisa Investment Advisors LLC raised its position in Navient Corp. by 25.4% in the second quarter. Nisa Investment Advisors LLC now owns 101,643 shares of the company’s stock worth $1,215,000 after buying an additional 20,580 shares during the last quarter. Finally, Visionary Asset Management Inc. raised its position in Navient Corp. by 2.2% in the second quarter. Visionary Asset Management Inc. now owns 220,437 shares of the company’s stock worth $2,630,000 after buying an additional 4,655 shares during the last quarter. 94.08% of the stock is currently owned by institutional investors and hedge funds.
Shares of Navient Corp. (NASDAQ:NAVI) traded down 1.72% on Tuesday, reaching $17.19. The company’s stock had a trading volume of 2,882,134 shares. The stock has a market cap of $5.21 billion, a P/E ratio of 7.05 and a beta of 2.37. The firm’s 50 day moving average is $14.88 and its 200-day moving average is $13.88. Navient Corp. has a 52-week low of $8.20 and a 52-week high of $17.95.
Navient Corp. (NASDAQ:NAVI) last posted its earnings results on Tuesday, October 18th. The company reported $0.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.02. Navient Corp. had a return on equity of 16.50% and a net margin of 16.31%. The company had revenue of $405 million for the quarter, compared to analyst estimates of $391.75 million. During the same quarter last year, the company earned $0.47 earnings per share. The company’s revenue for the quarter was down 12.0% on a year-over-year basis. On average, equities research analysts forecast that Navient Corp. will post $1.83 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Friday, December 2nd will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $0.64 dividend on an annualized basis and a yield of 3.72%. Navient Corp.’s dividend payout ratio (DPR) is currently 26.34%.
Separately, Zacks Investment Research lowered Navient Corp. from a “hold” rating to a “sell” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $15.57.
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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