AJO LP increased its stake in shares of Navient Corporation (NASDAQ:NAVI) by 7,682.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,250,081 shares of the credit services provider’s stock after purchasing an additional 1,234,019 shares during the quarter. AJO LP owned approximately 0.46% of Navient Corporation worth $20,814,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Bronfman E.L. Rothschild L.P. raised its stake in Navient Corporation by 1.7% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 6,952 shares of the credit services provider’s stock valued at $103,000 after buying an additional 118 shares during the last quarter. Creative Planning raised its stake in Navient Corporation by 7.2% in the second quarter. Creative Planning now owns 7,066 shares of the credit services provider’s stock valued at $118,000 after buying an additional 472 shares during the last quarter. Ffcm LLC raised its stake in Navient Corporation by 144.5% in 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 last quarter. Ameritas Investment Partners Inc. purchased a new stake in Navient Corporation in the first quarter valued at about $112,000. Finally, Grove Bank & Trust raised its stake in Navient Corporation by 33.3% in 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 last quarter. Hedge funds and other institutional investors own 93.02% of the company’s stock.
A number of equities research analysts have commented on NAVI shares. Compass Point upgraded 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, September 5th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $20.00 price objective on shares of Navient Corporation in a research note on Friday, July 14th. BidaskClub upgraded Navient Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. Jefferies Group LLC restated a “buy” rating on shares of Navient Corporation in a research note on Monday, June 12th. Finally, BMO Capital Markets restated a “hold” rating and issued a $16.00 price objective (down from $17.00) on shares of Navient Corporation in a research note on Thursday, July 20th. One equities 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 issued a strong buy rating to the stock. Navient Corporation currently has a consensus rating of “Hold” and an average price target of $18.23.
Navient Corporation (NASDAQ NAVI) traded down 1.28% during trading on Thursday, hitting $13.88. The stock had a trading volume of 306,439 shares. The firm has a market cap of $3.80 billion, a P/E ratio of 7.20 and a beta of 2.44. Navient Corporation has a 12-month low of $12.66 and a 12-month high of $17.95. The stock’s 50 day moving average price is $13.88 and its 200 day moving average price is $14.78.
Navient Corporation (NASDAQ:NAVI) last announced its 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. Navient Corporation had a return on equity of 14.05% and a net margin of 11.50%. The firm had revenue of $343.00 million for the quarter, compared to analysts’ expectations of $331.67 million. During the same quarter in the previous year, the company earned $0.47 earnings per share. The firm’s quarterly revenue was down 15.9% compared to the same quarter last year. On average, analysts anticipate that Navient Corporation will post $1.76 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were issued a dividend of $0.16 per share. The ex-dividend date was Wednesday, August 30th. This represents a $0.64 annualized dividend and a yield of 4.55%. Navient Corporation’s payout ratio is 33.68%.
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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