Dimensional Fund Advisors LP Has $136.50 Million Position in Navient Corporation (NAVI)
Dimensional Fund Advisors LP trimmed its stake in shares of Navient Corporation (NASDAQ:NAVI) by 0.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,087,655 shares of the credit services provider’s stock after selling 42,410 shares during the quarter. Dimensional Fund Advisors LP owned 3.46% of Navient worth $136,495,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in NAVI. Prudential Financial Inc. raised its stake in shares of Navient by 446.1% during 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 purchasing an additional 4,653,171 shares during the period. AJO LP raised its stake in shares of Navient by 7,682.8% during the 2nd quarter. AJO LP now owns 1,250,081 shares of the credit services provider’s stock valued at $20,814,000 after purchasing an additional 1,234,019 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Navient by 75.9% during 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 purchasing an additional 1,054,580 shares during the period. W. E. Donoghue & Co. LLC bought a new stake in shares of Navient during the 2nd quarter valued at $17,303,000. Finally, Parametric Portfolio Associates LLC raised its stake in shares of Navient by 56.4% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 2,304,386 shares of the credit services provider’s stock valued at $38,368,000 after purchasing an additional 831,209 shares during the period. Institutional investors own 92.91% of the company’s stock.
NAVI has been the subject of several recent analyst reports. Compass Point upgraded Navient 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. Credit Suisse Group upgraded Navient from a “neutral” rating to an “outperform” rating and set a $16.50 target price for the company in a research report on Friday, September 8th. Zacks Investment Research upgraded Navient from a “sell” rating to a “hold” rating in a research report on Wednesday, September 13th. Citigroup initiated coverage on Navient in a research report on Monday, October 16th. They set a “buy” rating and a $20.00 target price for the company. Finally, Jefferies Group restated a “hold” rating and set a $16.00 target price on shares of Navient in a research report on Monday, October 16th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $18.00.
Navient Corporation (NASDAQ NAVI) opened at $13.20 on Friday. Navient Corporation has a fifty-two week low of $11.48 and a fifty-two week high of $17.05. The company has a quick ratio of 33.10, a current ratio of 33.10 and a debt-to-equity ratio of 30.58. The stock has a market capitalization of $3,319.21, a PE ratio of 7.13 and a beta of 2.37.
Navient (NASDAQ:NAVI) last posted its quarterly earnings data on Tuesday, October 17th. The credit services provider reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.05. Navient had a return on equity of 14.09% and a net margin of 10.88%. The firm had revenue of $343.00 million during the quarter, compared to analysts’ expectations of $361.33 million. During the same period in the prior year, the business earned $0.50 EPS. The company’s revenue for the quarter was down 15.3% compared to the same quarter last year. research analysts anticipate that Navient Corporation will post 1.76 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.85%. The ex-dividend date was Thursday, November 30th. Navient’s payout ratio is currently 35.36%.
Navient announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, October 4th that authorizes the company to buyback shares. This buyback authorization authorizes the credit services provider to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
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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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