Wells Fargo & Company MN increased its stake in Navient Corp (NASDAQ:NAVI) by 108.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 338,500 shares of the credit services provider’s stock after purchasing an additional 176,274 shares during the quarter. Wells Fargo & Company MN’s holdings in Navient were worth $4,620,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in NAVI. Victory Capital Management Inc. purchased a new position in shares of Navient in the 1st quarter valued at about $985,000. JPMorgan Chase & Co. increased its holdings in Navient by 293.8% during the 1st quarter. JPMorgan Chase & Co. now owns 863,940 shares of the credit services provider’s stock valued at $9,996,000 after acquiring an additional 644,550 shares in the last quarter. Greenleaf Trust purchased a new position in Navient during the 1st quarter valued at about $344,000. Barings LLC increased its holdings in Navient by 84.7% during the 1st quarter. Barings LLC now owns 43,400 shares of the credit services provider’s stock valued at $502,000 after acquiring an additional 19,900 shares in the last quarter. Finally, Balasa Dinverno & Foltz LLC purchased a new position in Navient during the 1st quarter valued at about $152,000. Institutional investors and hedge funds own 95.51% of the company’s stock.
NAVI has been the subject of several recent research reports. Barclays raised their target price on shares of Navient from $14.00 to $17.00 and gave the company a “positive” rating in a report on Thursday, July 25th. They noted that the move was a valuation call. BidaskClub downgraded shares of Navient from a “buy” rating to a “hold” rating in a report on Friday, August 16th. TheStreet upgraded shares of Navient from a “c” rating to a “b-” rating in a report on Tuesday, August 6th. ValuEngine downgraded shares of Navient from a “sell” rating to a “strong sell” rating in a report on Thursday, August 1st. Finally, BMO Capital Markets set a $17.00 target price on shares of Navient and gave the company a “hold” rating in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $15.67.
NASDAQ:NAVI traded up $0.17 during mid-day trading on Thursday, hitting $13.48. 16,774 shares of the company’s stock traded hands, compared to its average volume of 1,329,643. The company has a debt-to-equity ratio of 26.20, a quick ratio of 13.85 and a current ratio of 13.85. The firm’s 50 day simple moving average is $13.13 and its 200 day simple moving average is $12.99. Navient Corp has a 1 year low of $8.23 and a 1 year high of $15.67. The company has a market cap of $3.07 billion, a PE ratio of 6.44, a price-to-earnings-growth ratio of 1.82 and a beta of 2.15.
Navient (NASDAQ:NAVI) last issued its quarterly earnings results on Tuesday, July 23rd. The credit services provider reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.20. The business had revenue of $296.00 million during the quarter, compared to the consensus estimate of $296.50 million. Navient had a net margin of 8.14% and a return on equity of 16.82%. The company’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.52 earnings per share. On average, research analysts expect that Navient Corp will post 2.45 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.75%. Navient’s dividend payout ratio (DPR) is presently 30.62%.
Navient Corporation provides education loan management and business processing solutions for education, healthcare, and government clients at the federal, state, and local levels in the United States. It operates in three segments: Federal Education Loans, Consumer Lending, and Business Processing. The company holds and acquires Federal Family Education Loan Program loans that are insured or guaranteed by state or not-for-profit agencies; and performs servicing and asset recovery services on its own loan portfolio, and federal education loans owned by the United States Department of Education and other institutions.
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