OppenheimerFunds Inc. grew its holdings in shares of Navient Corp (NASDAQ:NAVI) by 270.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,410,798 shares of the credit services provider’s stock after purchasing an additional 2,489,417 shares during the quarter. OppenheimerFunds Inc.’s holdings in Navient were worth $45,432,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the company. Schaper Benz & Wise Investment Counsel Inc. WI increased its position in shares of Navient by 31.3% during the 4th quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 17,989 shares of the credit services provider’s stock valued at $240,000 after purchasing an additional 4,289 shares during the last quarter. Allianz Asset Management GmbH grew its stake in shares of Navient by 0.7% during the 3rd quarter. Allianz Asset Management GmbH now owns 592,542 shares of the credit services provider’s stock worth $8,900,000 after acquiring an additional 4,290 shares during the period. Mutual of America Capital Management LLC grew its stake in shares of Navient by 12.8% during the 3rd quarter. Mutual of America Capital Management LLC now owns 38,362 shares of the credit services provider’s stock worth $576,000 after acquiring an additional 4,340 shares during the period. Nordea Investment Management AB grew its stake in shares of Navient by 6.8% during the 3rd quarter. Nordea Investment Management AB now owns 70,598 shares of the credit services provider’s stock worth $1,060,000 after acquiring an additional 4,476 shares during the period. Finally, Advisors Asset Management Inc. grew its stake in shares of Navient by 84.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 10,168 shares of the credit services provider’s stock worth $153,000 after acquiring an additional 4,642 shares during the period. 89.50% of the stock is owned by hedge funds and other institutional investors.
In other Navient news, SVP Stephen M. Hauber sold 17,423 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $14.40, for a total value of $250,891.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.68% of the stock is owned by company insiders.
Navient (NASDAQ:NAVI) last issued its earnings results on Tuesday, January 23rd. The credit services provider reported $0.43 EPS for the quarter, topping the consensus estimate of $0.42 by $0.01. Navient had a return on equity of 13.90% and a net margin of 5.94%. The business had revenue of $366.00 million during the quarter, compared to the consensus estimate of $362.33 million. During the same quarter last year, the company earned $0.43 EPS. equities analysts expect that Navient Corp will post 1.91 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 16th. Shareholders of record on Friday, March 2nd will be paid a $0.16 dividend. The ex-dividend date of this dividend is Thursday, March 1st. This represents a $0.64 annualized dividend and a yield of 4.83%. Navient’s dividend payout ratio is currently 63.37%.
NAVI has been the subject of several research reports. Barclays reiterated an “overweight” rating and set a $17.00 price target on shares of Navient in a research note on Tuesday, November 14th. UBS Group initiated coverage on Navient in a research note on Monday, January 8th. They set a “market perform” rating for the company. BidaskClub downgraded Navient from a “hold” rating to a “sell” rating in a research note on Saturday, January 20th. JPMorgan Chase & Co. downgraded Navient from a “neutral” rating to an “underweight” rating in a research note on Friday, January 12th. Finally, Oppenheimer initiated coverage on Navient in a research note on Monday, January 8th. They set a “hold” rating for the company. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $17.45.
WARNING: This report was published by Ticker Report and is owned by of Ticker Report. If you are reading this report on another domain, it was illegally copied and reposted in violation of U.S. and international copyright and trademark law. The legal version of this report can be read at https://www.tickerreport.com/banking-finance/3225791/navient-corp-navi-shares-bought-by-oppenheimerfunds-inc.html.
Navient Company Profile
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).
Want to see what other hedge funds are holding NAVI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Navient Corp (NASDAQ:NAVI).
Receive News & Ratings for Navient Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Navient and related companies with MarketBeat.com's FREE daily email newsletter.