Mason Street Advisors LLC bought a new stake in Navient Corp. (NASDAQ:NAVI) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 44,519 shares of the company’s stock, valued at approximately $532,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Thrivent Financial for Lutherans bought a new position in shares of Navient Corp. during the second quarter valued at approximately $121,000. Balasa Dinverno & Foltz LLC bought a new position in shares of Navient Corp. during the second quarter valued at approximately $122,000. BB&T Securities LLC bought a new position in shares of Navient Corp. during the first quarter valued at approximately $124,000. IFP Advisors Inc increased its position in shares of Navient Corp. by 25.9% in the second quarter. IFP Advisors Inc now owns 10,844 shares of the company’s stock worth $130,000 after buying an additional 2,232 shares in the last quarter. Finally, Private Advisor Group LLC acquired a new position in shares of Navient Corp. during the second quarter worth about $133,000. 95.21% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Navient Corp. (NASDAQ:NAVI) opened at 14.33 on Tuesday. The company has a 50-day moving average price of $14.18 and a 200-day moving average price of $13.25. Navient Corp. has a 12 month low of $8.20 and a 12 month high of $14.82. The company has a market capitalization of $4.54 billion, a price-to-earnings ratio of 6.08 and a beta of 2.31.
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 Thomson Reuters’ 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%. On average, equities analysts anticipate that Navient Corp. will post $1.88 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, September 2nd were issued a $0.16 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $0.64 annualized dividend and a yield of 4.47%. Navient Corp.’s payout ratio is 27.47%.
A number of brokerages have recently issued reports on NAVI. Zacks Investment Research raised Navient Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, September 20th. BMO Capital Markets set a $17.00 price objective 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 objective on the stock. in a research note on Wednesday, July 20th. Finally, Credit Suisse Group AG reissued a “buy” rating on shares of Navient Corp. in a research note on Wednesday, June 8th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $15.57.
In other Navient Corp. news, Director Bates Ann Torre sold 9,000 shares of the stock in a transaction that occurred 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William M. Diefenderfer III sold 16,300 shares of the stock in a transaction that occurred on Friday, August 19th. The shares were 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 of the company’s stock, valued at approximately $1,260,065.40. The disclosure for this sale can be found here. 1.05% of the stock is currently owned by corporate insiders.
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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