Savant Capital LLC cut its position in Navient Corp (NASDAQ:NAVI) by 2.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 108,839 shares of the credit services provider’s stock after selling 2,190 shares during the quarter. Savant Capital LLC’s holdings in Navient were worth $1,259,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Icon Advisers Inc. Co. acquired a new stake in shares of Navient in the first quarter valued at about $2,144,000. Janney Montgomery Scott LLC boosted its position in shares of Navient by 34.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 107,747 shares of the credit services provider’s stock valued at $1,247,000 after purchasing an additional 27,813 shares in the last quarter. Quantamental Technologies LLC bought a new stake in shares of Navient during the 1st quarter valued at about $218,000. World Asset Management Inc boosted its position in shares of Navient by 50.8% during the 1st quarter. World Asset Management Inc now owns 26,823 shares of the credit services provider’s stock valued at $310,000 after purchasing an additional 9,033 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Navient during the 1st quarter valued at about $791,000. Institutional investors and hedge funds own 94.14% of the company’s stock.
Shares of NAVI traded up $0.02 on Wednesday, reaching $13.23. 1,042,842 shares of the company’s stock traded hands, compared to its average volume of 1,801,360. The company has a current ratio of 12.43, a quick ratio of 12.43 and a debt-to-equity ratio of 25.60. The company has a market capitalization of $3.15 billion, a price-to-earnings ratio of 6.33, a PEG ratio of 2.10 and a beta of 2.34. Navient Corp has a 52-week low of $8.23 and a 52-week high of $15.02.
Navient (NASDAQ:NAVI) last issued its quarterly earnings results on Tuesday, April 23rd. The credit services provider reported $0.58 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.12. Navient had a return on equity of 15.10% and a net margin of 6.99%. The company had revenue of $285.00 million during the quarter, compared to the consensus estimate of $304.67 million. During the same period last year, the business posted $0.43 earnings per share. As a group, equities research analysts predict that Navient Corp will post 2.1 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 4.84%. The ex-dividend date is Thursday, June 6th. Navient’s dividend payout ratio is currently 30.62%.
In other Navient news, EVP Stephen M. Hauber sold 9,000 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $13.63, for a total value of $122,670.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.85% of the company’s stock.
Several equities research analysts recently commented on the company. BidaskClub upgraded Navient from a “hold” rating to a “buy” rating in a research report on Saturday, May 4th. ValuEngine upgraded Navient from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. BMO Capital Markets increased their price objective on Navient from $14.00 to $16.00 and gave the stock a “market perform” rating in a research note on Thursday, April 25th. JPMorgan Chase & Co. raised Navient from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $12.50 to $14.50 in a research note on Thursday, April 25th. Finally, Oppenheimer reissued a “hold” rating on shares of Navient in a research note on Friday, April 5th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Navient has a consensus rating of “Buy” and a consensus target price of $15.21.
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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