Strs Ohio Purchases Shares of 22,664 Navient Corp (NAVI)
Strs Ohio purchased a new stake in Navient Corp (NASDAQ:NAVI) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 22,664 shares of the credit services provider’s stock, valued at approximately $295,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of NAVI. Wells Fargo & Company MN increased its position in shares of Navient by 5.9% during the first quarter. Wells Fargo & Company MN now owns 495,160 shares of the credit services provider’s stock worth $6,497,000 after acquiring an additional 27,420 shares in the last quarter. Mackay Shields LLC bought a new stake in shares of Navient during the first quarter worth about $581,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Navient by 64.0% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,330 shares of the credit services provider’s stock worth $293,000 after acquiring an additional 8,717 shares in the last quarter. D.A. Davidson & CO. increased its position in shares of Navient by 13.4% during the first quarter. D.A. Davidson & CO. now owns 38,065 shares of the credit services provider’s stock worth $499,000 after acquiring an additional 4,485 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of Navient by 21,134.2% during the first quarter. Robeco Institutional Asset Management B.V. now owns 1,208,651 shares of the credit services provider’s stock worth $15,858,000 after acquiring an additional 1,202,959 shares in the last quarter. 91.91% of the stock is owned by hedge funds and other institutional investors.
NAVI has been the subject of several recent research reports. BidaskClub raised shares of Navient from a “hold” rating to a “buy” rating in a research report on Friday, May 25th. Zacks Investment Research upgraded shares of Navient from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a report on Tuesday, June 26th. Wedbush upgraded shares of Navient from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $14.50 to $15.75 in a report on Friday, June 1st. Finally, ValuEngine cut shares of Navient from a “hold” rating to a “sell” rating in a report on Tuesday, June 12th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $16.09.
Navient (NASDAQ:NAVI) last released its quarterly earnings results on Tuesday, July 24th. The credit services provider reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.05. Navient had a net margin of 5.72% and a return on equity of 13.95%. The business had revenue of $330.00 million for the quarter, compared to analysts’ expectations of $314.00 million. During the same period in the previous year, the company earned $0.43 earnings per share. The firm’s revenue for the quarter was down 3.8% compared to the same quarter last year. research analysts anticipate that Navient Corp will post 1.92 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 21st. Investors of record on Friday, September 7th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 4.79%. The ex-dividend date is Thursday, September 6th. Navient’s dividend payout ratio (DPR) is presently 35.75%.
Navient Corporation provides asset management and business processing services to education, health care, and government clients at the federal, state, and local levels in the United States. The company operates in three segments: Federal Family Education Loan Program (FFELP) Loans, Private Education Loans, and Business Services.
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