OLD National Bancorp IN decreased its position in shares of Navient Corporation (NASDAQ:NAVI) by 7.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 13,735 shares of the credit services provider’s stock after selling 1,050 shares during the period. OLD National Bancorp IN’s holdings in Navient Corporation were worth $228,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in NAVI. BlackRock Inc. boosted its position in shares of Navient Corporation by 2,615.0% in the first quarter. BlackRock Inc. now owns 21,395,479 shares of the credit services provider’s stock worth $315,797,000 after buying an additional 20,607,439 shares during the period. Vanguard Group Inc. boosted its position in shares of Navient Corporation by 4.3% in the first quarter. Vanguard Group Inc. now owns 39,295,006 shares of the credit services provider’s stock worth $579,995,000 after buying an additional 1,606,973 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Navient Corporation by 12.8% in 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 buying an additional 1,022,191 shares during the period. LSV Asset Management boosted its position in shares of Navient Corporation by 10.5% in the first quarter. LSV Asset Management now owns 5,109,703 shares of the credit services provider’s stock worth $75,419,000 after buying an additional 484,526 shares during the period. Finally, OppenheimerFunds Inc. boosted its position in shares of Navient Corporation by 275.1% in the first quarter. OppenheimerFunds Inc. now owns 562,679 shares of the credit services provider’s stock worth $8,305,000 after buying an additional 412,669 shares during the period. 94.27% of the stock is currently owned by hedge funds and other institutional investors.
Navient Corporation (NASDAQ:NAVI) opened at 14.95 on Monday. The stock’s 50 day moving average is $15.86 and its 200-day moving average is $15.31. Navient Corporation has a 52-week low of $12.66 and a 52-week high of $17.95. The firm has a market capitalization of $4.10 billion, a PE ratio of 7.75 and a beta of 2.48.
Navient Corporation (NASDAQ:NAVI) last announced its earnings results on Tuesday, July 18th. The credit services provider reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. The firm had revenue of $343 million during the quarter, compared to analysts’ expectations of $331.67 million. Navient Corporation had a return on equity of 14.05% and a net margin of 11.50%. The company’s revenue was down 15.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.47 earnings per share. Equities analysts expect that Navient Corporation will post $1.79 earnings per share for the current year.
NAVI has been the topic of a number of recent research reports. Zacks Investment Research raised shares of Navient Corporation from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research report on Wednesday, April 5th. Barclays PLC set a $20.00 price target on shares of Navient Corporation and gave the company a “buy” rating in a research report on Wednesday, April 12th. BidaskClub raised shares of Navient Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Keefe, Bruyette & Woods set a $20.00 price target on shares of Navient Corporation and gave the company a “buy” rating in a research report on Thursday, April 6th. Finally, Wedbush reissued a “neutral” rating and set a $16.50 target price on shares of Navient Corporation in a research report on Tuesday, April 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $18.55.
About Navient Corporation
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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