Tillar Wenstrup Advisors LLC reduced its position in shares of Navient Corp. (NASDAQ:NAVI) by 34.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 141,770 shares of the company’s stock after selling 73,644 shares during the period. Tillar Wenstrup Advisors LLC’s holdings in Navient Corp. were worth $1,694,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of NAVI. Legal & General Group Plc increased 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 worth $21,757,000 after buying an additional 182,611 shares during the period. UBS Asset Management Americas Inc. increased 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 worth $12,170,000 after buying an additional 119,151 shares during the period. Meeder Asset Management Inc. increased 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 worth $1,640,000 after buying an additional 105,306 shares during the period. BB&T Securities LLC bought a new position in Navient Corp. during the first quarter worth $124,000. Finally, OMERS ADMINISTRATION Corp bought a new position in Navient Corp. during the first quarter worth $1,855,000. 95.21% of the stock is currently owned by institutional investors.
Navient Corp. (NASDAQ:NAVI) traded down 0.97% during trading on Monday, reaching $14.33. The company’s stock had a trading volume of 3,433,945 shares. The company has a market cap of $4.54 billion, a P/E ratio of 6.08 and a beta of 2.31. Navient Corp. has a 12 month low of $8.20 and a 12 month high of $14.82. The stock’s 50-day moving average is $14.16 and its 200 day moving average is $13.21.
Navient Corp. (NASDAQ:NAVI) last posted its earnings results on Tuesday, July 19th. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.03. Navient Corp. had a net margin of 16.75% and a return on equity of 16.77%. On average, equities analysts forecast that Navient Corp. will post $1.88 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 16th. Shareholders 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 dividend on an annualized basis and a dividend yield of 4.47%. Navient Corp.’s payout ratio is presently 27.47%.
A number of research firms have recently weighed in on NAVI. BMO Capital Markets set a $17.00 price target on Navient Corp. and gave the company a “hold” rating in a research note on Thursday, July 21st. Goldman Sachs Group Inc. downgraded Navient Corp. from a “buy” rating to a “neutral” rating and set a $15.00 price target on the stock. in a research note on Wednesday, July 20th. Zacks Investment Research downgraded Navient Corp. from a “hold” rating to a “sell” rating in a research note on Friday, July 22nd. Finally, Credit Suisse Group AG reaffirmed a “buy” rating on shares of Navient Corp. in a research note on Wednesday, June 8th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $15.57.
In related news, Director Bates Ann Torre sold 9,000 shares of the business’s stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $14.23, for a total value of $128,070.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William M. Diefenderfer III sold 16,300 shares of the business’s stock in a transaction on Friday, August 19th. The stock was sold at an average price of $14.20, for a total transaction of $231,460.00. Following the completion of the sale, the director now directly owns 88,737 shares in the company, valued at approximately $1,260,065.40. The disclosure for this sale can be found here. Company insiders own 1.05% of the company’s stock.
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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