Oakbrook Investments LLC raised its position in shares of Navient Corp. (NASDAQ:NAVI) by 12.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,500 shares of the company’s stock after buying an additional 2,550 shares during the period. Oakbrook Investments LLC’s holdings in Navient Corp. were worth $281,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Exxonmobil Investment Management Inc. TX raised its stake in shares of 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 period. Visionary Asset Management Inc. raised its stake in shares of 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 period. Denali Advisors LLC raised its stake in shares of 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 period. Nisa Investment Advisors L.L.C. raised its stake in shares of 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 period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in shares of Navient Corp. by 10.6% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 87,135 shares of the company’s stock valued at $1,043,000 after buying an additional 8,365 shares during the last quarter. Hedge funds and other institutional investors own 95.21% of the company’s stock.
Shares of Navient Corp. (NASDAQ:NAVI) traded up 1.17% during mid-day trading on Friday, hitting $13.88. The company had a trading volume of 3,407,947 shares. The firm’s 50 day moving average is $14.12 and its 200-day moving average is $13.11. The firm has a market cap of $4.40 billion, a PE ratio of 5.89 and a beta of 2.32. Navient Corp. has a 12-month low of $8.20 and a 12-month high of $14.82.
Navient Corp. (NASDAQ:NAVI) last announced its quarterly earnings results on Tuesday, July 19th. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.03. Navient Corp. had a return on equity of 16.77% and a net margin of 16.75%. On average, equities analysts expect that Navient Corp. will post $1.87 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, September 2nd were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $0.64 annualized dividend and a dividend yield of 4.61%. Navient Corp.’s dividend payout ratio is presently 27.47%.
Several research analysts have recently commented on the company. Zacks Investment Research lowered Navient Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, June 21st. Goldman Sachs Group Inc. lowered Navient Corp. from a “buy” rating to a “neutral” rating and set a $15.00 target price for the company. in a research report on Wednesday, July 20th. BMO Capital Markets set a $17.00 target price on Navient Corp. and gave the stock a “hold” rating in a research report on Thursday, July 21st. Finally, Credit Suisse Group AG reiterated a “buy” rating on shares of Navient Corp. in a research report on Wednesday, June 8th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $15.57.
In related news, Director Bates Ann Torre sold 9,000 shares of the business’s stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $14.23, for a total transaction of $128,070.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William M. Diefenderfer III sold 16,300 shares of the business’s stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $14.20, for a total value of $231,460.00. Following the transaction, 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. 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.
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 Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Navient Corp. and related companies with MarketBeat.com's FREE daily email newsletter.