Janus Henderson Group PLC Acquires 39,919 Shares of Navient Corporation (NAVI)

Janus Henderson Group PLC raised its holdings in shares of Navient Corporation (NASDAQ:NAVI) by 225.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 57,639 shares of the credit services provider’s stock after acquiring an additional 39,919 shares during the period. Janus Henderson Group PLC’s holdings in Navient Corporation were worth $960,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Creative Planning raised its position in shares of 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 last quarter. Ffcm LLC raised its position in shares of 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 last quarter. Bronfman E.L. Rothschild L.P. raised its position in shares of 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 last quarter. Grove Bank & Trust raised its position in shares of 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 last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Navient Corporation by 211.8% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 10,305 shares of the credit services provider’s stock valued at $172,000 after acquiring an additional 7,000 shares during the last quarter. Institutional investors own 92.94% of the company’s stock.

In other Navient Corporation news, EVP John M. Kane sold 28,886 shares of Navient Corporation stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $15.00, for a total value of $433,290.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Christian M. Lown purchased 6,000 shares of the firm’s stock in a transaction on Friday, October 20th. The stock was bought at an average cost of $12.35 per share, with a total value of $74,100.00. The disclosure for this purchase can be found here. 1.68% of the stock is owned by company insiders.

Shares of Navient Corporation (NASDAQ:NAVI) opened at 11.85 on Monday. The company has a market cap of $3.21 billion, a PE ratio of 6.55 and a beta of 2.48. The company has a 50 day moving average of $13.35 and a 200-day moving average of $14.51. Navient Corporation has a 52-week low of $11.48 and a 52-week high of $17.95.

Navient Corporation (NASDAQ:NAVI) last announced its earnings results on Tuesday, October 17th. The credit services provider reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.05. Navient Corporation had a net margin of 10.88% and a return on equity of 14.09%. The business had revenue of $343.00 million during the quarter, compared to the consensus estimate of $361.33 million. During the same quarter last year, the firm earned $0.50 earnings per share. Navient Corporation’s quarterly revenue was down 15.3% on a year-over-year basis. Analysts forecast that Navient Corporation will post $1.75 EPS for the current fiscal year.

Navient Corporation announced that its board has approved a stock repurchase program on Wednesday, October 4th that allows the company to buyback shares. This buyback authorization allows the credit services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

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NAVI has been the subject of several recent research reports. Zacks Investment Research cut shares of Navient Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, October 12th. Jefferies Group LLC reiterated a “hold” rating and set a $16.00 target price on shares of Navient Corporation in a research report on Friday, July 21st. BidaskClub cut shares of Navient Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $20.00 target price on shares of Navient Corporation in a research report on Friday, July 14th. Finally, Compass Point cut shares of Navient Corporation from a “buy” rating to a “neutral” rating and dropped their target price for the company from $16.50 to $15.50 in a research report on Thursday, October 5th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $18.27.

Navient Corporation 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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