Navient Corporation (NAVI) Shares Bought by ARGI Investment Services LLC

ARGI Investment Services LLC lifted its stake in shares of Navient Corporation (NASDAQ:NAVI) by 6.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 101,157 shares of the credit services provider’s stock after acquiring an additional 6,030 shares during the period. ARGI Investment Services LLC’s holdings in Navient were worth $1,519,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of NAVI. Prudential Financial Inc. lifted its holdings 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 worth $94,845,000 after acquiring an additional 4,653,171 shares during the last quarter. AJO LP lifted its holdings 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 worth $20,814,000 after acquiring an additional 1,234,019 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings 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 worth $40,687,000 after acquiring an additional 1,054,580 shares during the last quarter. W. E. Donoghue & Co. LLC bought a new stake in shares of Navient during the 2nd quarter worth $17,303,000. Finally, Parametric Portfolio Associates LLC lifted its holdings 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 worth $38,368,000 after acquiring an additional 831,209 shares during the last quarter. 92.89% of the stock is owned by institutional investors.

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

A number of equities analysts recently commented on the stock. ValuEngine upgraded shares of Navient from a “hold” rating to a “buy” rating in a research report on Friday. Barclays reiterated an “overweight” rating and issued a $17.00 target price on shares of Navient in a research report on Tuesday, November 14th. Zacks Investment Research upgraded shares of Navient from a “strong sell” rating to a “hold” rating in a research report on Monday, October 23rd. BMO Capital Markets decreased their target price on shares of Navient from $16.00 to $14.00 and set a “market perform” rating on the stock in a research report on Thursday, October 19th. Finally, Jefferies Group reiterated a “hold” rating and issued a $16.00 target price on shares of Navient in a research report on Monday, October 16th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $18.00.

Navient Corporation (NASDAQ:NAVI) opened at $13.01 on Monday. The company has a market cap of $3,421.79, a price-to-earnings ratio of 7.35 and a beta of 2.37. Navient Corporation has a 52-week low of $11.48 and a 52-week high of $17.48. The company has a debt-to-equity ratio of 30.58, a current ratio of 33.10 and a quick ratio of 33.10.

Navient (NASDAQ:NAVI) last issued its earnings results on Tuesday, October 17th. The credit services provider reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.05. Navient had a net margin of 10.88% and a return on equity of 14.09%. The company had revenue of $343.00 million for the quarter, compared to analysts’ expectations of $361.33 million. During the same quarter last year, the company earned $0.50 EPS. The firm’s revenue was down 15.3% compared to the same quarter last year. analysts forecast that Navient Corporation will post 1.76 earnings per share for the current year.

Navient declared that its board has initiated a share repurchase plan on Wednesday, October 4th that permits the company to repurchase outstanding shares. This repurchase authorization permits the credit services provider to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.92%. The ex-dividend date of this dividend is Thursday, November 30th. Navient’s payout ratio is 35.36%.

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About Navient

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).

Institutional Ownership by Quarter for Navient (NASDAQ:NAVI)

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