Northwestern Mutual Investment Management Company LLC lowered its stake in shares of Navient Corp. (NASDAQ:NAVI) by 3.7% during the second quarter, according to its most recent filing with the SEC. The fund owned 12,611 shares of the company’s stock after selling 480 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Navient Corp. were worth $151,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in NAVI. Legal & General Group Plc boosted its position in Navient Corp. by 11.2% in the first quarter. Legal & General Group Plc now owns 1,817,596 shares of the company’s stock valued at $21,757,000 after buying an additional 182,611 shares during the period. UBS Asset Management Americas Inc. boosted its position in Navient Corp. by 13.3% in the first quarter. UBS Asset Management Americas Inc. now owns 1,016,737 shares of the company’s stock valued at $12,170,000 after buying an additional 119,151 shares during the period. Meeder Asset Management Inc. boosted its position in Navient Corp. by 333.4% in the first quarter. Meeder Asset Management Inc. now owns 136,893 shares of the company’s stock valued at $1,640,000 after buying an additional 105,306 shares during the period. BB&T Securities LLC acquired a new position in Navient Corp. during the first quarter valued at $124,000. Finally, OMERS ADMINISTRATION Corp acquired a new position in Navient Corp. during the first quarter valued at $1,855,000. Institutional investors and hedge funds own 95.21% of the company’s stock.
Navient Corp. (NASDAQ:NAVI) opened at 14.47 on Monday. Navient Corp. has a 52-week low of $8.20 and a 52-week high of $14.82. The firm has a market cap of $4.59 billion, a price-to-earnings ratio of 6.14 and a beta of 2.31. The firm’s 50 day moving average price is $14.16 and its 200 day moving average price is $13.21.
Navient Corp. (NASDAQ:NAVI) last released its earnings results on Tuesday, July 19th. The company reported $0.47 EPS for the quarter, topping the consensus estimate 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 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, September 2nd were paid a dividend of $0.16 per share. The ex-dividend date was Wednesday, August 31st. This represents a $0.64 annualized dividend and a yield of 4.42%. Navient Corp.’s dividend payout ratio is currently 27.47%.
Several equities research analysts have commented on the company. BMO Capital Markets set a $17.00 target price on Navient Corp. and gave the company a “hold” rating in a research note on Thursday, July 21st. Goldman Sachs Group Inc. cut Navient Corp. from a “buy” rating to a “neutral” rating and set a $15.00 target price on the stock. in a research note on Wednesday, July 20th. Zacks Investment Research cut Navient Corp. from a “hold” rating to a “sell” rating in a research note on Friday, July 22nd. Finally, Credit Suisse Group AG restated a “buy” rating on shares of Navient Corp. in a research note on Wednesday, June 8th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $15.57.
In other Navient Corp. news, 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 transaction, the director now owns 88,737 shares in the company, valued at $1,260,065.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 disclosure for this sale can be found here. Corporate insiders own 1.05% of the company’s stock.
About Navient Corp.
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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