Franklin Resources Inc. Has $934,000 Holdings in Navient Corporation (NAVI)
Franklin Resources Inc. grew its position in shares of Navient Corporation (NASDAQ:NAVI) by 0.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,091 shares of the credit services provider’s stock after purchasing an additional 21 shares during the period. Franklin Resources Inc.’s holdings in Navient Corporation were worth $934,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Creative Planning grew its holdings in shares of Navient Corporation by 7.2% during the second quarter. Creative Planning now owns 7,066 shares of the credit services provider’s stock worth $118,000 after buying an additional 472 shares in the last quarter. Ffcm LLC lifted its stake in shares of Navient Corporation by 144.5% during the second quarter. Ffcm LLC now owns 7,071 shares of the credit services provider’s stock valued at $119,000 after buying an additional 4,179 shares during the period. Bronfman E.L. Rothschild L.P. lifted its stake in shares of Navient Corporation by 8.8% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 7,564 shares of the credit services provider’s stock valued at $126,000 after buying an additional 612 shares during the period. Ameritas Investment Partners Inc. purchased a new position in shares of Navient Corporation during the first quarter valued at approximately $112,000. Finally, Grove Bank & Trust lifted its stake in shares of Navient Corporation by 33.3% during the second quarter. Grove Bank & Trust now owns 9,280 shares of the credit services provider’s stock valued at $154,000 after buying an additional 2,320 shares during the period. 93.02% of the stock is currently owned by institutional investors.
NAVI has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of Navient Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, September 19th. Credit Suisse Group raised shares of Navient Corporation from a “neutral” rating to an “outperform” rating and set a $16.50 target price for the company in a research report on Friday, September 8th. Compass Point upgraded shares of Navient Corporation from a “neutral” rating to a “buy” rating and set a $16.50 price target on the stock in a report on Tuesday, September 5th. BidaskClub lowered shares of Navient Corporation from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $16.00 price target on shares of Navient Corporation in a research report on Friday, July 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Navient Corporation currently has a consensus rating of “Hold” and an average target price of $18.23.
In related news, EVP John M. Kane sold 28,886 shares of the stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $15.00, for a total value of $433,290.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.68% of the stock is currently owned by corporate insiders.
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Navient Corporation (NASDAQ NAVI) opened at 14.90 on Tuesday. The stock has a market capitalization of $4.08 billion, a PE ratio of 7.72 and a beta of 2.48. Navient Corporation has a 1-year low of $12.66 and a 1-year high of $17.95. The stock’s 50 day moving average price is $14.02 and its 200 day moving average price is $14.80.
Navient Corporation (NASDAQ:NAVI) last posted its quarterly earnings results on Tuesday, July 18th. The credit services provider reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.02. The company had revenue of $343.00 million for the quarter, compared to analyst estimates of $331.67 million. Navient Corporation had a net margin of 11.50% and a return on equity of 14.05%. The business’s quarterly revenue was down 15.9% on a year-over-year basis. During the same period last year, the business posted $0.47 EPS. Equities research analysts forecast that Navient Corporation will post $1.76 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders 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 dividend yield of 4.30%. The ex-dividend date was Wednesday, August 30th. Navient Corporation’s dividend payout ratio is currently 33.68%.
Navient Corporation Company 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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