PNC Financial Services Group Inc. lessened its stake in Navient Corp (NASDAQ:NAVI) by 24.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,565 shares of the credit services provider’s stock after selling 7,066 shares during the period. PNC Financial Services Group Inc.’s holdings in Navient were worth $283,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Stone Ridge Asset Management LLC bought a new position in Navient in the 4th quarter valued at about $141,000. First Allied Advisory Services Inc. bought a new position in Navient in the 4th quarter valued at about $148,000. Gotham Asset Management LLC bought a new position in Navient in the 4th quarter valued at about $154,000. Amundi Pioneer Asset Management Inc. bought a new position in Navient in the 4th quarter valued at about $155,000. Finally, Landscape Capital Management L.L.C. bought a new position in Navient in the 4th quarter valued at about $203,000. Hedge funds and other institutional investors own 98.14% of the company’s stock.
Shares of Navient opened at $13.22 on Wednesday, according to MarketBeat Ratings. Navient Corp has a twelve month low of $11.48 and a twelve month high of $16.97. The company has a debt-to-equity ratio of 28.03, a current ratio of 21.07 and a quick ratio of 21.07. The stock has a market capitalization of $3.51 billion, a price-to-earnings ratio of 7.33, a price-to-earnings-growth ratio of 1.18 and a beta of 2.20.
Navient (NASDAQ:NAVI) last posted its quarterly earnings data on Tuesday, April 24th. The credit services provider reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. Navient had a net margin of 6.43% and a return on equity of 13.91%. The company had revenue of $329.00 million during the quarter, compared to analyst estimates of $313.00 million. During the same period in the prior year, the firm earned $0.37 earnings per share. equities research analysts forecast that Navient Corp will post 1.88 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 15th. Shareholders of record on Friday, June 1st were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 4.84%. The ex-dividend date of this dividend was Thursday, May 31st. Navient’s dividend payout ratio is presently 35.75%.
A number of equities research analysts have weighed in on NAVI shares. Zacks Investment Research raised shares of Navient from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a report on Tuesday. Wedbush raised shares of Navient from a “neutral” rating to an “outperform” rating and upped their price target for the company from $14.50 to $15.75 in a report on Friday, June 1st. BidaskClub raised shares of Navient from a “strong sell” rating to a “sell” rating in a report on Friday, March 9th. ValuEngine downgraded shares of Navient from a “hold” rating to a “sell” rating in a report on Tuesday, June 12th. Finally, Compass Point raised shares of Navient from a “neutral” rating to a “buy” rating and set a $16.00 price target for the company in a report on Wednesday, April 4th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. Navient currently has a consensus rating of “Hold” and a consensus price target of $16.53.
Navient Corporation provides asset management and business processing services to education, health care, and government clients at the federal, state, and local levels in the United States. The company operates in three segments: Federal Family Education Loan Program (FFELP) Loans, Private Education Loans, and Business Services.
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