Navient Corporation (NAVI) Position Boosted by LSV Asset Management
LSV Asset Management raised its holdings in shares of Navient Corporation (NASDAQ:NAVI) by 6.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,429,642 shares of the credit services provider’s stock after buying an additional 319,939 shares during the quarter. LSV Asset Management owned about 1.98% of Navient Corporation worth $90,403,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also bought and sold shares of the stock. BlackRock Inc. lifted its stake in Navient Corporation by 2,615.0% during the first quarter. BlackRock Inc. now owns 21,395,479 shares of the credit services provider’s stock worth $315,797,000 after purchasing an additional 20,607,439 shares during the last quarter. Prudential Financial Inc. lifted its stake in Navient Corporation by 446.1% during the second quarter. Prudential Financial Inc. now owns 5,696,350 shares of the credit services provider’s stock worth $94,845,000 after purchasing an additional 4,653,171 shares during the last quarter. Vanguard Group Inc. lifted its stake in Navient Corporation by 4.3% during the first quarter. Vanguard Group Inc. now owns 39,295,006 shares of the credit services provider’s stock worth $579,995,000 after purchasing an additional 1,606,973 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Navient Corporation by 75.9% during the second quarter. JPMorgan Chase & Co. now owns 2,443,684 shares of the credit services provider’s stock worth $40,687,000 after purchasing an additional 1,054,580 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Navient Corporation by 12.8% during the first quarter. Dimensional Fund Advisors LP now owns 9,016,645 shares of the credit services provider’s stock worth $133,086,000 after purchasing an additional 1,022,191 shares during the last quarter. Institutional investors and hedge funds own 92.65% of the company’s stock.
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Several brokerages have issued reports on NAVI. Credit Suisse Group raised Navient Corporation from a “neutral” rating to an “outperform” rating in a research note on Friday. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $20.00 price target on shares of Navient Corporation in a research note on Friday, July 14th. Compass Point raised Navient Corporation from a “neutral” rating to a “buy” rating and set a $16.50 price target for the company in a research note on Tuesday. BidaskClub lowered Navient Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $16.00 price target (down previously from $17.00) on shares of Navient Corporation in a research note on Thursday, July 20th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $18.36.
Shares of Navient Corporation (NAVI) opened at 13.14 on Friday. The company has a market cap of $3.60 billion, a price-to-earnings ratio of 6.81 and a beta of 2.44. The stock has a 50 day moving average price of $14.05 and a 200-day moving average price of $14.86. Navient Corporation has a 1-year low of $12.66 and a 1-year high of $17.95.
Navient Corporation (NASDAQ:NAVI) last released its quarterly earnings results on Tuesday, July 18th. The credit services provider reported $0.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.02. The company had revenue of $343 million during the quarter, compared to analyst estimates of $331.67 million. Navient Corporation had a return on equity of 14.05% and a net margin of 11.50%. The firm’s revenue was down 15.9% on a year-over-year basis. During the same quarter last year, the business posted $0.47 earnings per share. Equities research analysts forecast that Navient Corporation will post $1.76 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 4.87%. The ex-dividend date is Wednesday, August 30th. Navient Corporation’s payout ratio is currently 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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