Ameriprise Financial Inc. lowered its position in shares of Navient Corporation (NASDAQ:NAVI) by 18.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 2,279,902 shares of the credit services provider’s stock after selling 517,999 shares during the period. Ameriprise Financial Inc. owned 0.83% of Navient Corporation worth $37,960,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in NAVI. BlackRock Inc. grew its position in shares of Navient Corporation by 2,615.0% during the first quarter. BlackRock Inc. now owns 21,395,479 shares of the credit services provider’s stock worth $315,797,000 after acquiring an additional 20,607,439 shares during the last quarter. Prudential Financial Inc. grew its position in Navient Corporation by 446.1% in the 2nd quarter. Prudential Financial Inc. now owns 5,696,350 shares of the credit services provider’s stock valued at $94,845,000 after buying an additional 4,653,171 shares in the last quarter. Vanguard Group Inc. grew its position in Navient Corporation by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 39,295,006 shares of the credit services provider’s stock valued at $579,995,000 after buying an additional 1,606,973 shares in the last quarter. AJO LP grew its position in Navient Corporation by 7,682.8% in the 2nd quarter. AJO LP now owns 1,250,081 shares of the credit services provider’s stock valued at $20,814,000 after buying an additional 1,234,019 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Navient Corporation by 75.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,443,684 shares of the credit services provider’s stock valued at $40,687,000 after buying an additional 1,054,580 shares in the last quarter. Institutional investors and hedge funds own 93.02% of the company’s stock.
Shares of Navient Corporation (NASDAQ:NAVI) opened at 14.78 on Friday. The stock has a market capitalization of $4.05 billion, a price-to-earnings ratio of 7.66 and a beta of 2.44. Navient Corporation has a 1-year low of $12.66 and a 1-year high of $17.95. The firm’s 50-day moving average is $13.88 and its 200-day moving average is $14.78.
Navient Corporation (NASDAQ:NAVI) last posted its earnings results on Tuesday, July 18th. The credit services provider reported $0.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.02. The company had revenue of $343.00 million during the quarter, compared to analyst estimates of $331.67 million. Navient Corporation had a return on equity of 14.05% and a net margin of 11.50%. The company’s revenue for the quarter was down 15.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.47 EPS. On average, analysts predict that Navient Corporation will post $1.76 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were given a dividend of $0.16 per share. The ex-dividend date was Wednesday, August 30th. This represents a $0.64 annualized dividend and a dividend yield of 4.33%. Navient Corporation’s payout ratio is currently 33.68%.
NAVI has been the subject of a number of recent analyst reports. Compass Point upgraded shares of Navient Corporation from a “neutral” rating to a “buy” rating and set a $16.50 target price for the company in a research report on Tuesday, September 5th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $20.00 target price on shares of Navient Corporation in a research report on Friday, July 14th. BidaskClub upgraded shares of Navient Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Jefferies Group LLC reiterated a “buy” rating on shares of Navient Corporation in a research report on Monday, June 12th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $16.00 target price (down previously from $17.00) on shares of Navient Corporation in a research report on Thursday, July 20th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $18.23.
Navient Corporation Company 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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