Sumitomo Mitsui Asset Management Company LTD continued to hold its stake in shares of Navient Corporation (NASDAQ:NAVI) during the second quarter, Holdings Channel reports. The firm owned 24,716 shares of the credit services provider’s stock at the end of the second quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in Navient Corporation were worth $411,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Navient Corporation by 2,615.0% in the first quarter. BlackRock Inc. now owns 21,395,479 shares of the credit services provider’s stock valued at $315,797,000 after buying an additional 20,607,439 shares during the period. Vanguard Group Inc. increased its stake in shares of Navient Corporation by 4.3% in the first quarter. Vanguard Group Inc. now owns 39,295,006 shares of the credit services provider’s stock valued at $579,995,000 after buying an additional 1,606,973 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Navient Corporation by 12.8% in the first quarter. Dimensional Fund Advisors LP now owns 9,016,645 shares of the credit services provider’s stock valued at $133,086,000 after buying an additional 1,022,191 shares during the period. LSV Asset Management increased its stake in shares of Navient Corporation by 10.5% in the first quarter. LSV Asset Management now owns 5,109,703 shares of the credit services provider’s stock valued at $75,419,000 after buying an additional 484,526 shares during the period. Finally, OppenheimerFunds Inc. increased its stake in shares of Navient Corporation by 275.1% in the first quarter. OppenheimerFunds Inc. now owns 562,679 shares of the credit services provider’s stock valued at $8,305,000 after buying an additional 412,669 shares during the period. Institutional investors and hedge funds own 95.45% of the company’s stock.

Shares of Navient Corporation (NAVI) opened at 13.68 on Friday. The stock has a market cap of $3.75 billion, a PE ratio of 7.09 and a beta of 2.43. Navient Corporation has a one year low of $12.66 and a one year high of $17.95. The company’s 50-day moving average price is $15.48 and its 200-day moving average price is $15.10.

Navient Corporation (NASDAQ:NAVI) last released its quarterly 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. Navient Corporation had a return on equity of 14.05% and a net margin of 11.50%. The business had revenue of $343 million during the quarter, compared to analyst estimates of $331.67 million. During the same quarter in the previous year, the company posted $0.47 earnings per share. Navient Corporation’s revenue for the quarter was down 15.9% on a year-over-year basis. Equities research analysts anticipate that Navient Corporation will post $1.76 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date of this dividend is Wednesday, August 30th. Navient Corporation’s dividend payout ratio (DPR) is 33.68%.

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Several equities research analysts recently issued reports on NAVI shares. Zacks Investment Research downgraded Navient Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 17th. BidaskClub upgraded Navient Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. Wedbush restated a “neutral” rating and issued a $16.50 price objective on shares of Navient Corporation in a research note on Tuesday, April 18th. Jefferies Group LLC restated a “buy” rating on shares of Navient Corporation in a research note on Monday, June 12th. Finally, ValuEngine upgraded Navient Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 16th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $18.55.

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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Institutional Ownership by Quarter for Navient Corporation (NASDAQ:NAVI)

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