US Bancorp DE trimmed its stake in Navient Corp (NASDAQ:NAVI) by 21.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,566 shares of the credit services provider’s stock after selling 5,488 shares during the period. US Bancorp DE’s holdings in Navient were worth $268,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in NAVI. Nomura Asset Management Co. Ltd. bought a new position in shares of Navient in the 1st quarter worth $138,000. Shufro Rose & Co. LLC bought a new position in shares of Navient in the 2nd quarter worth $139,000. Cerebellum GP LLC bought a new position in shares of Navient in the 2nd quarter worth $174,000. Assetmark Inc. raised its position in shares of Navient by 89.8% in the 2nd quarter. Assetmark Inc. now owns 13,519 shares of the credit services provider’s stock worth $176,000 after acquiring an additional 6,396 shares in the last quarter. Finally, Private Advisor Group LLC bought a new position in shares of Navient in the 1st quarter worth $211,000. 91.91% of the stock is owned by hedge funds and other institutional investors.
Shares of NAVI stock opened at $13.88 on Monday. Navient Corp has a 1-year low of $11.48 and a 1-year high of $15.61. The company has a current ratio of 21.92, a quick ratio of 21.92 and a debt-to-equity ratio of 26.35. The firm has a market cap of $3.54 billion, a P/E ratio of 7.75 and a beta of 2.15.
Navient (NASDAQ:NAVI) last announced its earnings results on Tuesday, July 24th. The credit services provider reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.05. Navient had a return on equity of 13.95% and a net margin of 5.72%. The firm had revenue of $330.00 million for the quarter, compared to the consensus estimate of $314.00 million. During the same period in the previous year, the business earned $0.43 EPS. The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. equities research analysts forecast that Navient Corp will post 1.92 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 21st. Investors of record on Friday, September 7th will be paid a dividend of $0.16 per share. The ex-dividend date is Thursday, September 6th. This represents a $0.64 annualized dividend and a yield of 4.61%. Navient’s dividend payout ratio (DPR) is 35.75%.
Several research firms have recently commented on NAVI. Zacks Investment Research lowered Navient from a “buy” rating to a “hold” rating in a research report on Friday, August 3rd. BidaskClub raised Navient from a “hold” rating to a “buy” rating in a research report on Friday, May 25th. ValuEngine lowered Navient from a “hold” rating to a “sell” rating in a research report on Tuesday, June 12th. Finally, Wedbush raised Navient from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $14.50 to $15.75 in a research report on Friday, June 1st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. Navient currently has an average rating of “Hold” and an average price target of $16.09.
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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