Oppenheimer Asset Management Inc. reduced its position in Navient Corporation (NASDAQ:NAVI) by 10.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,789 shares of the credit services provider’s stock after selling 2,739 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Navient Corporation were worth $379,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Bronfman E.L. Rothschild L.P. lifted its holdings in shares of Navient Corporation by 8.8% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 7,564 shares of the credit services provider’s stock worth $126,000 after purchasing an additional 612 shares in the last quarter. Chicago Equity Partners LLC lifted its holdings in shares of Navient Corporation by 109.8% in the 2nd quarter. Chicago Equity Partners LLC now owns 150,025 shares of the credit services provider’s stock worth $2,498,000 after purchasing an additional 78,520 shares in the last quarter. ARGI Investment Services LLC lifted its holdings in shares of Navient Corporation by 12.2% in the 2nd quarter. ARGI Investment Services LLC now owns 95,127 shares of the credit services provider’s stock worth $1,584,000 after purchasing an additional 10,363 shares in the last quarter. Keybank National Association OH bought a new position in shares of Navient Corporation in the 2nd quarter worth $199,000. Finally, OMERS ADMINISTRATION Corp bought a new position in shares of Navient Corporation in the 2nd quarter worth $496,000. Institutional investors own 92.65% of the company’s stock.
Navient Corporation (NASDAQ NAVI) opened at 13.94 on Friday. Navient Corporation has a 52 week low of $12.66 and a 52 week high of $17.95. The company has a market capitalization of $3.82 billion, a PE ratio of 7.23 and a beta of 2.44. The firm’s 50-day moving average price is $13.92 and its 200 day moving average price is $14.80.
Navient Corporation (NASDAQ:NAVI) last released its earnings results on Tuesday, July 18th. The credit services provider reported $0.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.02. Navient Corporation had a return on equity of 14.05% and a net margin of 11.50%. The business had revenue of $343.00 million for the quarter, compared to the consensus estimate of $331.67 million. During the same period in the previous year, the company posted $0.47 earnings per share. The company’s revenue for the quarter was down 15.9% compared to the same quarter last year. Equities research analysts expect 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. Shareholders of record on Friday, September 1st were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 4.59%. The ex-dividend date of this dividend was Wednesday, August 30th. Navient Corporation’s dividend payout ratio (DPR) is 33.68%.
A number of brokerages recently issued reports on NAVI. BidaskClub cut Navient Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Jefferies Group LLC reiterated a “hold” rating and issued a $16.00 target price on shares of Navient Corporation in a report on Friday, July 21st. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $20.00 target price on shares of Navient Corporation in a report on Friday, July 14th. Zacks Investment Research upgraded Navient Corporation from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $16.00 target price (down from $17.00) on shares of Navient Corporation in a 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 issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $18.23.
WARNING: This story was published by Chaffey Breeze and is owned by of Chaffey Breeze. If you are reading this story on another publication, it was stolen and republished in violation of US and international copyright & trademark legislation. The correct version of this story can be read at https://www.chaffeybreeze.com/2017/09/17/oppenheimer-asset-management-inc-sells-2739-shares-of-navient-corporation-navi.html.
About Navient Corporation
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).
Want to see what other hedge funds are holding NAVI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Navient Corporation (NASDAQ:NAVI).
Receive News & Ratings for Navient Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Navient Corporation and related companies with MarketBeat.com's FREE daily email newsletter.