Navient Corp. Plans Quarterly Dividend of $0.16 (NAVI)
Navient Corp. (NASDAQ:NAVI) declared a quarterly dividend on Friday, October 7th. Stockholders of record on Friday, December 2nd will be paid a dividend of 0.16 per share on Friday, December 16th. This represents a $0.64 annualized dividend and a dividend yield of 4.40%. The ex-dividend date of this dividend is Wednesday, November 30th.
Shares of Navient Corp. (NASDAQ:NAVI) traded down 1.02% on Friday, hitting $14.56. The stock had a trading volume of 2,299,549 shares. The company’s 50 day moving average is $14.23 and its 200 day moving average is $13.29. The stock has a market cap of $4.62 billion, a PE ratio of 6.18 and a beta of 2.31. Navient Corp. has a one year low of $8.20 and a one year high of $14.92.
Navient Corp. (NASDAQ:NAVI) last announced its earnings results on Tuesday, July 19th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.03. Navient Corp. had a net margin of 16.75% and a return on equity of 16.77%. Equities research analysts predict that Navient Corp. will post $1.88 EPS for the current fiscal year.
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In other news, Director Bates Ann Torre sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $14.23, for a total transaction of $128,070.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William M. Diefenderfer III sold 16,300 shares of the firm’s stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $14.20, for a total transaction of $231,460.00. Following the transaction, the director now directly owns 88,737 shares of the company’s stock, valued at $1,260,065.40. The disclosure for this sale can be found here. 1.05% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Stevens Capital Management LP acquired a new position in shares of Navient Corp. during the second quarter worth $187,000. Raymond James & Associates boosted its position in shares of Navient Corp. by 0.6% in the second quarter. Raymond James & Associates now owns 439,958 shares of the company’s stock worth $5,257,000 after buying an additional 2,555 shares during the period. Teachers Advisors Inc. boosted its position in shares of Navient Corp. by 25.5% in the second quarter. Teachers Advisors Inc. now owns 536,024 shares of the company’s stock worth $6,405,000 after buying an additional 109,014 shares during the period. TIAA CREF Investment Management LLC boosted its position in shares of Navient Corp. by 86.0% in the second quarter. TIAA CREF Investment Management LLC now owns 1,796,787 shares of the company’s stock worth $21,472,000 after buying an additional 830,604 shares during the period. Finally, Pacad Investment Ltd. boosted its position in shares of Navient Corp. by 42.9% in the second quarter. Pacad Investment Ltd. now owns 37,421 shares of the company’s stock worth $447,000 after buying an additional 11,237 shares during the period. 95.21% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently commented on the stock. BMO Capital Markets set a $17.00 price objective on shares of Navient Corp. and gave the company a “hold” rating in a research report on Thursday, July 21st. Goldman Sachs Group Inc. downgraded shares of Navient Corp. from a “buy” rating to a “neutral” rating and set a $15.00 price objective for the company. in a research report on Wednesday, July 20th. Finally, Zacks Investment Research downgraded shares of Navient Corp. from a “hold” rating to a “sell” rating in a research report on Friday, July 22nd. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $15.57.
Navient Corp. Company Profile
Navient Corporation is a loan management, servicing and asset recovery company. The Company holds the portfolio of education loans insured or guaranteed under the Federal Family Education Loan Program (FFELP), as well as the portfolio of Private Education Loans. FFELP Loans are insured or guaranteed by state based on guaranty agreements among the United States Department of Education (ED) and these agencies.
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