Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in shares of Navient Corporation (NASDAQ:NAVI) by 16.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,114 shares of the credit services provider’s stock after acquiring an additional 10,395 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Navient Corporation were worth $1,234,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in NAVI. Macquarie Group Ltd. lifted its stake in Navient Corporation by 141.9% in the fourth quarter. Macquarie Group Ltd. now owns 25,400 shares of the credit services provider’s stock valued at $417,000 after acquiring an additional 14,900 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in Navient Corporation by 107.0% in the first quarter. Canada Pension Plan Investment Board now owns 59,000 shares of the credit services provider’s stock valued at $871,000 after acquiring an additional 30,500 shares during the last quarter. First Trust Advisors LP lifted its stake in Navient Corporation by 4.4% in the first quarter. First Trust Advisors LP now owns 653,697 shares of the credit services provider’s stock valued at $9,649,000 after acquiring an additional 27,544 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its stake in shares of Navient Corporation by 45.9% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 27,717 shares of the credit services provider’s stock worth $424,000 after buying an additional 8,716 shares during the last quarter. Finally, Suntrust Banks Inc. lifted its stake in shares of Navient Corporation by 18.1% during the 1st quarter. Suntrust Banks Inc. now owns 12,134 shares of the credit services provider’s stock worth $178,000 after buying an additional 1,864 shares during the last quarter. Institutional investors and hedge funds own 92.65% of the company’s stock.
Navient Corporation (NAVI) opened at 14.44 on Thursday. The stock has a 50 day moving average of $13.97 and a 200-day moving average of $14.83. 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 $3.96 billion, a P/E ratio of 7.49 and a beta of 2.44.
Navient Corporation (NASDAQ:NAVI) last released its quarterly earnings data on Tuesday, July 18th. The credit services provider reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. Navient Corporation had a return on equity of 14.05% and a net margin of 11.50%. The firm had revenue of $343.00 million during the quarter, compared to analyst estimates of $331.67 million. During the same quarter in the prior year, the firm posted $0.47 earnings per share. The business’s quarterly revenue was down 15.9% compared to the same quarter last year. Equities research analysts predict that Navient Corporation will post $1.76 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date of this dividend is Wednesday, August 30th. Navient Corporation’s payout ratio is 33.68%.
A number of analysts have recently issued reports on NAVI shares. Zacks Investment Research cut shares of Navient Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. BidaskClub raised shares of Navient Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Credit Suisse Group raised shares of Navient Corporation from a “neutral” rating to an “outperform” rating and set a $16.50 price target on the stock in a research report on Friday, September 8th. Jefferies Group LLC reaffirmed a “buy” rating on shares of Navient Corporation in a research report on Monday, June 12th. Finally, ValuEngine raised shares of Navient Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $18.23.
Navient Corporation 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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