Riverhead Capital Management LLC Sells 3,161 Shares of Navient Corporation (NAVI)
Riverhead Capital Management LLC lessened its position in shares of Navient Corporation (NASDAQ:NAVI) by 3.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 85,239 shares of the credit services provider’s stock after selling 3,161 shares during the quarter. Riverhead Capital Management LLC’s holdings in Navient Corporation were worth $1,419,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in NAVI. Canada Pension Plan Investment Board grew its holdings in shares of 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 grew its holdings in shares of 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 grew its holdings in shares of 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. grew its holdings in shares of 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, LS Investment Advisors LLC grew its holdings in shares of Navient Corporation by 12.4% during the 1st quarter. LS Investment Advisors LLC now owns 19,154 shares of the credit services provider’s stock worth $283,000 after purchasing an additional 2,115 shares in the last quarter. 92.65% of the stock is currently owned by institutional investors.
Several analysts have recently weighed in on the company. BidaskClub lowered Navient Corporation from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Credit Suisse Group raised Navient Corporation from a “neutral” rating to an “outperform” rating and set a $16.50 price objective on the stock in a report on Friday, September 8th. Stifel Nicolaus lifted their price objective on Navient Corporation from $24.00 to $26.00 and gave the stock a “hold” rating in a report on Monday, June 12th. ValuEngine raised Navient Corporation from a “buy” rating to a “strong-buy” rating in a report on Friday, June 16th. Finally, BMO Capital Markets reissued a “hold” rating and set a $16.00 price objective (down previously from $17.00) on shares of Navient Corporation in a report on Thursday, July 20th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $18.23.
Shares of Navient Corporation (NASDAQ:NAVI) opened at 13.94 on Friday. Navient Corporation has a 52 week low of $12.66 and a 52 week high of $17.95. The company has a 50-day moving average price of $13.92 and a 200 day moving average price of $14.80. The firm has a market cap of $3.82 billion, a price-to-earnings ratio of 7.23 and a beta of 2.44.
Navient Corporation (NASDAQ:NAVI) last issued its quarterly earnings results on Tuesday, July 18th. The credit services provider reported $0.43 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.02. The business had revenue of $343.00 million for the quarter, compared to the consensus estimate of $331.67 million. Navient Corporation had a return on equity of 14.05% and a net margin of 11.50%. The firm’s quarterly revenue was down 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.47 earnings per share. Analysts expect that Navient Corporation will post $1.76 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date was Wednesday, August 30th. Navient Corporation’s dividend 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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