Vanguard Group Inc. raised its position in shares of Navient Corp. (NASDAQ:NAVI) by 1.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 40,028,642 shares of the company’s stock after buying an additional 764,136 shares during the period. Vanguard Group Inc. owned about 12.63% of Navient Corp. worth $478,342,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the stock. Private Advisor Group LLC purchased a new stake in Navient Corp. during the second quarter valued at $133,000. AJO LP purchased a new stake in Navient Corp. during the second quarter valued at $9,334,000. Dimensional Fund Advisors LP boosted its stake in Navient Corp. by 47.2% in the second quarter. Dimensional Fund Advisors LP now owns 6,147,505 shares of the company’s stock valued at $73,455,000 after buying an additional 1,971,640 shares in the last quarter. Eaton Vance Management boosted its stake in Navient Corp. by 0.3% in the second quarter. Eaton Vance Management now owns 61,029 shares of the company’s stock valued at $729,000 after buying an additional 212 shares in the last quarter. Finally, Advance Capital I Inc. boosted its stake in Navient Corp. by 59.7% in the second quarter. Advance Capital I Inc. now owns 23,800 shares of the company’s stock valued at $284,000 after buying an additional 8,900 shares in the last quarter. 95.21% of the stock is owned by institutional investors.
Navient Corp. (NASDAQ:NAVI) traded down 0.62% on Monday, hitting $14.38. The stock had a trading volume of 286,044 shares. The company has a 50-day moving average price of $14.16 and a 200-day moving average price of $13.21. The stock has a market capitalization of $4.56 billion, a price-to-earnings ratio of 6.11 and a beta of 2.31. Navient Corp. has a 1-year low of $8.20 and a 1-year high of $14.82.
Navient Corp. (NASDAQ:NAVI) last announced its quarterly earnings data on Tuesday, July 19th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.03. Navient Corp. had a return on equity of 16.77% and a net margin of 16.75%. Equities analysts predict that Navient Corp. will post $1.88 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, September 2nd were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 4.42%. The ex-dividend date of this dividend was Wednesday, August 31st. Navient Corp.’s dividend payout ratio (DPR) is currently 27.47%.
NAVI has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Navient Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, September 14th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Navient Corp. in a research report on Wednesday, June 8th. BMO Capital Markets set a $17.00 price objective on shares of Navient Corp. and gave the stock a “hold” rating in a research 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 objective for the company. in a research report on Wednesday, July 20th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock 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 firm’s stock in a transaction dated Tuesday, July 26th. The stock was 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 available at this link. Also, Director William M. Diefenderfer III sold 16,300 shares of the firm’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 completion of the transaction, the director now 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 owned by corporate insiders.
About Navient Corp.
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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