First Midwest Bank Trust Division bought a new position in Navient Corp. (NASDAQ:NAVI) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 163,352 shares of the company’s stock, valued at approximately $1,952,000.
Other institutional investors have also recently made changes to their positions in the company. Exxonmobil Investment Management Inc. TX boosted its stake in Navient Corp. by 2.5% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 85,554 shares of the company’s stock worth $1,022,000 after buying an additional 2,086 shares during the last quarter. Oakbrook Investments LLC boosted its stake in Navient Corp. by 12.2% in the second quarter. Oakbrook Investments LLC now owns 23,500 shares of the company’s stock worth $281,000 after buying an additional 2,550 shares during the last quarter. Visionary Asset Management Inc. boosted its stake in Navient Corp. by 2.2% in the second quarter. Visionary Asset Management Inc. now owns 220,437 shares of the company’s stock worth $2,630,000 after buying an additional 4,655 shares during the last quarter. Denali Advisors LLC boosted its stake in Navient Corp. by 1.2% in the second quarter. Denali Advisors LLC now owns 431,600 shares of the company’s stock worth $5,158,000 after buying an additional 5,100 shares during the last quarter. Finally, Nisa Investment Advisors L.L.C. boosted its stake in Navient Corp. by 7.0% in the first quarter. Nisa Investment Advisors L.L.C. now owns 81,063 shares of the company’s stock worth $970,000 after buying an additional 5,300 shares during the last quarter. 95.21% of the stock is owned by institutional investors and hedge funds.
Shares of Navient Corp. (NASDAQ:NAVI) traded up 0.48% on Wednesday, hitting $14.56. 2,323,470 shares of the stock were exchanged. Navient Corp. has a 12 month low of $8.20 and a 12 month high of $14.82. The company has a 50-day moving average price of $14.10 and a 200 day moving average price of $13.17. The company has a market cap of $4.62 billion, a PE ratio of 6.18 and a beta of 2.32.
Navient Corp. (NASDAQ:NAVI) last posted its quarterly earnings results on Tuesday, July 19th. The company reported $0.47 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.03. Navient Corp. had a net margin of 16.75% and a return on equity of 16.77%. Equities analysts forecast that Navient Corp. will post $1.87 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, September 2nd were issued 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 yield of 4.40%. Navient Corp.’s dividend payout ratio is currently 27.47%.
NAVI has been the subject of a number of research reports. Credit Suisse Group AG restated a “buy” rating on shares of Navient Corp. in a report on Wednesday, June 8th. Zacks Investment Research upgraded shares of Navient Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, September 20th. BMO Capital Markets set a $17.00 price target on shares of Navient Corp. and gave the stock a “hold” rating in a report on Thursday, July 21st. Finally, Goldman Sachs Group Inc. cut shares of Navient Corp. from a “buy” rating to a “neutral” rating and set a $15.00 price target for the company. in a report on Wednesday, July 20th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Navient Corp. has an average rating of “Buy” and an average target price of $15.57.
In other Navient Corp. news, Director Bates Ann Torre sold 9,000 shares of the company’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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William M. Diefenderfer III sold 16,300 shares of the company’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 transaction, the director now owns 88,737 shares of the company’s stock, valued at $1,260,065.40. The disclosure for this sale can be found here. Corporate 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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