Navient Corporation (NAVI) Stock Price Down 0.6%
Navient Corporation (NASDAQ:NAVI) was down 0.6% during mid-day trading on Friday . The stock traded as low as $12.55 and last traded at $12.67. Approximately 2,463,045 shares changed hands during trading, a decline of 4% from the average daily volume of 2,555,740 shares. The stock had previously closed at $12.60.
Several equities research analysts have recently issued reports on NAVI shares. Credit Suisse Group AG upgraded shares of Navient Corporation from a “neutral” rating to an “outperform” rating and set a $16.50 price objective on the stock in a research report on Friday, September 8th. Zacks Investment Research upgraded shares of Navient Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, September 19th. Stifel Nicolaus lifted their price objective on shares of Navient Corporation from $24.00 to $26.00 and gave the company a “hold” rating in a research report on Monday, June 12th. BidaskClub upgraded shares of Navient Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. Finally, ValuEngine upgraded shares of Navient Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 16th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $18.30.
The firm’s 50-day moving average price is $14.03 and its 200-day moving average price is $14.78. The firm has a market capitalization of $3.45 billion, a PE ratio of 6.53 and a beta of 2.48.
Navient Corporation (NASDAQ:NAVI) last issued its earnings results on Tuesday, July 18th. The credit services provider reported $0.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.02. The company had revenue of $343.00 million during the quarter, compared to analysts’ expectations of $331.67 million. Navient Corporation had a return on equity of 14.05% and a net margin of 11.50%. The firm’s quarterly revenue was down 15.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.47 EPS. On average, equities research analysts predict that Navient Corporation will post $1.75 EPS for the current 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 5.08%. The ex-dividend date of this dividend was Wednesday, August 30th. Navient Corporation’s payout ratio is currently 33.68%.
Navient Corporation declared that its board has authorized a share repurchase program on Wednesday, October 4th that allows the company to buyback shares. This buyback authorization allows the credit services provider to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its stock is undervalued.
In other news, EVP John M. Kane sold 28,886 shares of the stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $15.00, for a total transaction of $433,290.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.68% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Creative Planning boosted its holdings in Navient Corporation by 7.2% during the 2nd quarter. Creative Planning now owns 7,066 shares of the credit services provider’s stock valued at $118,000 after acquiring an additional 472 shares during the period. Ffcm LLC boosted its holdings in Navient Corporation by 144.5% during the 2nd quarter. Ffcm LLC now owns 7,071 shares of the credit services provider’s stock valued at $119,000 after acquiring an additional 4,179 shares during the period. Bronfman E.L. Rothschild L.P. boosted its holdings in Navient Corporation by 8.8% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 7,564 shares of the credit services provider’s stock valued at $126,000 after acquiring an additional 612 shares during the period. Ameritas Investment Partners Inc. purchased a new position in Navient Corporation during the 1st quarter valued at about $112,000. Finally, Grove Bank & Trust boosted its holdings in Navient Corporation by 33.3% during the 2nd quarter. Grove Bank & Trust now owns 9,280 shares of the credit services provider’s stock valued at $154,000 after acquiring an additional 2,320 shares during the period. Institutional investors own 93.02% of the company’s stock.
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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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