Sanctuary Advisors LLC Acquires New Shares in Navient Corporation $NAVI

Sanctuary Advisors LLC bought a new stake in shares of Navient Corporation (NASDAQ:NAVI) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 54,852 shares of the credit services provider’s stock, valued at approximately $467,000. Sanctuary Advisors LLC owned about 0.06% of Navient at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Parallel Advisors LLC lifted its holdings in shares of Navient by 325.6% during the first quarter. Parallel Advisors LLC now owns 5,005 shares of the credit services provider’s stock valued at $41,000 after purchasing an additional 3,829 shares in the last quarter. Versant Capital Management Inc increased its holdings in Navient by 552.6% in the 2nd quarter. Versant Capital Management Inc now owns 4,855 shares of the credit services provider’s stock worth $41,000 after buying an additional 4,111 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in Navient in the 4th quarter worth about $44,000. PNC Financial Services Group Inc. raised its position in Navient by 39.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,228 shares of the credit services provider’s stock worth $55,000 after buying an additional 1,191 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position in Navient by 3,045.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 5,127 shares of the credit services provider’s stock worth $67,000 after buying an additional 4,964 shares during the last quarter. Institutional investors own 97.14% of the company’s stock.

Navient Stock Up 1.6%

NAVI stock opened at $9.46 on Friday. Navient Corporation has a fifty-two week low of $7.33 and a fifty-two week high of $13.87. The business’s 50-day moving average is $8.74 and its two-hundred day moving average is $8.58. The company has a debt-to-equity ratio of 16.73, a quick ratio of 10.53 and a current ratio of 10.53. The company has a market cap of $887.20 million, a price-to-earnings ratio of -18.92 and a beta of 1.18.

Navient (NASDAQ:NAVI) last released its quarterly earnings results on Thursday, August 6th. The credit services provider reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.09. Navient had a positive return on equity of 4.68% and a negative net margin of 1.64%.The business had revenue of $150.00 million during the quarter, compared to the consensus estimate of $142.87 million. During the same period in the previous year, the company posted $0.20 EPS. As a group, analysts forecast that Navient Corporation will post 0.76 earnings per share for the current year.

Navient Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 6.8%. The ex-dividend date is Friday, September 4th. Navient’s payout ratio is -128.00%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Navient in a report on Wednesday, June 24th. JPMorgan Chase & Co. lowered their price objective on shares of Navient from $9.50 to $8.00 and set a “neutral” rating on the stock in a research report on Monday, July 13th. Finally, TD Cowen restated a “sell” rating on shares of Navient in a research report on Friday, August 7th. Five research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $9.14.

About Navient

Navient Corporation (NASDAQ: NAVI) is a specialized provider of asset management and business processing solutions, with a primary focus on student loan servicing. Established in 2014 through the separation from Sallie Mae, Navient assumed responsibility for servicing federal and private education loans, positioning itself as one of the largest servicers of higher education debt in the United States.

The company’s core activities center on federal student loan servicing under contracts with the U.S.