Eaton Vance Management raised its position in Navient Corp. (NASDAQ:NAVI) by 0.3% during the second quarter, Holdings Channel reports. The institutional investor owned 61,029 shares of the company’s stock after buying an additional 212 shares during the period. Eaton Vance Management’s holdings in Navient Corp. were worth $729,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of NAVI. Boston Partners raised its stake in shares of Navient Corp. by 1.2% in the second quarter. Boston Partners now owns 25,288,321 shares of the company’s stock worth $302,195,000 after buying an additional 307,317 shares in the last quarter. Norges Bank acquired a new stake in shares of Navient Corp. during the fourth quarter worth about $48,417,000. Kingstown Capital Management L.P. raised its stake in shares of Navient Corp. by 14.3% in the first quarter. Kingstown Capital Management L.P. now owns 4,000,000 shares of the company’s stock worth $47,880,000 after buying an additional 500,000 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Navient Corp. by 30.9% in the first quarter. JPMorgan Chase & Co. now owns 3,982,867 shares of the company’s stock worth $47,675,000 after buying an additional 939,208 shares in the last quarter. Finally, LSV Asset Management raised its stake in shares of Navient Corp. by 29.5% in the second quarter. LSV Asset Management now owns 3,365,167 shares of the company’s stock worth $40,213,000 after buying an additional 765,749 shares in the last quarter. 95.21% of the stock is owned by hedge funds and other institutional investors.
Navient Corp. (NASDAQ:NAVI) traded down 0.172% on Thursday, hitting $14.535. The stock had a trading volume of 1,498,250 shares. The company has a market cap of $4.61 billion, a P/E ratio of 6.172 and a beta of 2.32. The firm’s 50-day moving average is $14.11 and its 200-day moving average is $13.18. Navient Corp. has a 52-week low of $8.20 and a 52-week high of $14.82.
Navient Corp. (NASDAQ:NAVI) last posted its quarterly earnings results on Tuesday, July 19th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.03. Navient Corp. had a return on equity of 16.77% and a net margin of 16.75%. Equities research analysts anticipate that Navient Corp. will post $1.88 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, September 2nd were given a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $0.64 annualized dividend and a yield of 4.40%. Navient Corp.’s payout ratio is 27.47%.
A number of equities research analysts recently issued reports on NAVI shares. Credit Suisse Group AG reissued a “buy” rating on shares of Navient Corp. in a research note on Wednesday, June 8th. Zacks Investment Research lowered Navient Corp. from a “hold” rating to a “sell” rating in a research note on Friday, July 22nd. BMO Capital Markets set a $17.00 price target on Navient Corp. and gave the stock a “hold” rating in a research note on Thursday, July 21st. Finally, Goldman Sachs Group Inc. lowered Navient Corp. from a “buy” rating to a “neutral” rating and set a $15.00 price target for the company. in a research note on Wednesday, July 20th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Navient Corp. presently has an average rating of “Buy” and a consensus price target of $15.57.
In related news, Director Bates Ann Torre sold 9,000 shares of the stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $14.23, for a total value of $128,070.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William M. Diefenderfer III sold 16,300 shares of the stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $14.20, for a total value of $231,460.00. Following the completion of the transaction, the director now owns 88,737 shares of the company’s stock, valued at $1,260,065.40. The disclosure for this sale can be found here. 1.05% of the stock is owned by corporate insiders.
Navient Corp. Company Profile
Navient Corporation is a loan management, servicing and asset recovery company. The Company holds the portfolio of education loans insured or guaranteed under the Federal Family Education Loan Program (FFELP), as well as the portfolio of Private Education Loans. FFELP Loans are insured or guaranteed by state based on guaranty agreements among the United States Department of Education (ED) and these agencies.
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