Daiwa Securities Group Inc. lowered its stake in shares of Navient Corporation (NASDAQ:NAVI) by 83.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,600 shares of the credit services provider’s stock after selling 41,900 shares during the period. Daiwa Securities Group Inc.’s holdings in Navient Corporation were worth $127,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Thrivent Financial for Lutherans increased its position in shares of Navient Corporation by 0.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 10,420 shares of the credit services provider’s stock valued at $171,000 after buying an additional 90 shares during the period. Allianz Asset Management AG increased its position in shares of Navient Corporation by 2.8% in the fourth quarter. Allianz Asset Management AG now owns 653,265 shares of the credit services provider’s stock valued at $10,733,000 after buying an additional 17,859 shares during the period. Russell Investments Group Ltd. bought a new position in shares of Navient Corporation during the fourth quarter valued at approximately $6,301,000. Janus Capital Management LLC increased its position in shares of Navient Corporation by 91.4% in the fourth quarter. Janus Capital Management LLC now owns 2,955,550 shares of the credit services provider’s stock valued at $48,560,000 after buying an additional 1,411,450 shares during the period. Finally, Raymond James Financial Services Advisors Inc. bought a new position in shares of Navient Corporation during the fourth quarter valued at approximately $294,000. Institutional investors own 93.00% of the company’s stock.
Shares of Navient Corporation (NASDAQ NAVI) traded down 2.050% on Friday, hitting $15.525. The company’s stock had a trading volume of 7,499,649 shares. The stock’s 50-day moving average price is $14.72 and its 200-day moving average price is $15.39. Navient Corporation has a 52 week low of $11.01 and a 52 week high of $17.95. The firm has a market cap of $4.42 billion, a price-to-earnings ratio of 8.167 and a beta of 2.50.
Navient Corporation (NASDAQ:NAVI) last released its earnings results on Tuesday, April 18th. The credit services provider reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by $0.06. The company had revenue of $334 million for the quarter, compared to the consensus estimate of $345.60 million. Navient Corporation had a net margin of 11.95% and a return on equity of 14.75%. The business’s revenue was down 19.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 earnings per share. Equities analysts expect that Navient Corporation will post $1.80 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 16th. Investors of record on Friday, June 2nd will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, May 31st. This represents a $0.64 annualized dividend and a dividend yield of 4.12%. Navient Corporation’s dividend payout ratio is currently 33.86%.
NAVI has been the topic of several analyst reports. Stifel Nicolaus increased their price target on Navient Corporation from $24.00 to $26.00 and gave the company a “hold” rating in a report on Monday. BidaskClub raised Navient Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. Keefe, Bruyette & Woods set a $20.00 target price on Navient Corporation and gave the stock a “buy” rating in a research report on Thursday, April 6th. Zacks Investment Research raised Navient Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, March 28th. Finally, Wedbush reissued a “neutral” rating and set a $16.50 price objective on shares of Navient Corporation in a report on Tuesday, April 18th. Seven equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $18.50.
In related news, Director Gilleland Diane Suitt sold 5,467 shares of the company’s stock in a transaction on Monday, April 24th. The stock was sold at an average price of $15.89, for a total transaction of $86,870.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.68% of the stock is owned by corporate insiders.
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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