HighTower Advisors LLC boosted its stake in shares of Navient Corporation (NASDAQ:NAVI) by 24.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,297 shares of the credit services provider’s stock after buying an additional 2,618 shares during the period. HighTower Advisors LLC’s holdings in Navient Corporation were worth $196,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the stock. Thrivent Financial for Lutherans boosted its position in Navient Corporation by 0.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 10,420 shares of the credit services provider’s stock worth $171,000 after buying an additional 90 shares in the last quarter. Ledyard National Bank acquired a new position in shares of Navient Corporation during the first quarter valued at about $202,000. Oxford Asset Management acquired a new position in shares of Navient Corporation during the first quarter valued at about $1,527,000. BB&T Securities LLC boosted its position in shares of Navient Corporation by 83.1% in the first quarter. BB&T Securities LLC now owns 76,851 shares of the credit services provider’s stock valued at $1,134,000 after buying an additional 34,874 shares during the period. Finally, Pacer Advisors Inc. boosted its position in shares of Navient Corporation by 11.0% in the first quarter. Pacer Advisors Inc. now owns 35,582 shares of the credit services provider’s stock valued at $525,000 after buying an additional 3,522 shares during the period. Institutional investors own 96.37% of the company’s stock.
Shares of Navient Corporation (NASDAQ:NAVI) traded down 0.29% during mid-day trading on Friday, hitting $13.60. 1,601,157 shares of the stock traded hands. Navient Corporation has a 12-month low of $12.66 and a 12-month high of $17.95. The firm has a market cap of $3.73 billion, a price-to-earnings ratio of 7.05 and a beta of 2.43. The firm’s 50 day moving average price is $15.10 and its 200 day moving average price is $15.04.
Navient Corporation (NASDAQ:NAVI) last announced its quarterly earnings results on Tuesday, July 18th. The credit services provider reported $0.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.02. The business had revenue of $343 million during the quarter, compared to analysts’ expectations of $331.67 million. Navient Corporation had a return on equity of 14.05% and a net margin of 11.50%. The firm’s quarterly revenue was down 15.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.47 EPS. On average, equities research analysts predict that Navient Corporation will post $1.76 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.64 dividend on an annualized basis and a yield of 4.71%. Navient Corporation’s payout ratio is currently 33.68%.
Several brokerages recently issued reports on NAVI. Keefe, Bruyette & Woods reissued a “buy” rating and set a $20.00 target price on shares of Navient Corporation in a report on Friday, July 14th. BidaskClub cut shares of Navient Corporation from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. BMO Capital Markets restated a “hold” rating and set a $16.00 price target (down previously from $17.00) on shares of Navient Corporation in a research report on Thursday, July 20th. Stifel Nicolaus raised their price target on shares of Navient Corporation from $24.00 to $26.00 and gave the company a “hold” rating in a research report on Monday, June 12th. Finally, ValuEngine upgraded shares of Navient Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 16th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $18.55.
Navient Corporation 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).
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