ING Groep NV Sells 273 Shares of Navient Corporation (NAVI)

ING Groep NV reduced its stake in shares of Navient Corporation (NASDAQ:NAVI) by 1.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,580 shares of the credit services provider’s stock after selling 273 shares during the period. ING Groep NV’s holdings in Navient Corporation were worth $243,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Contravisory Investment Management Inc. boosted its stake in Navient Corporation by 1.3% in the second quarter. Contravisory Investment Management Inc. now owns 15,150 shares of the credit services provider’s stock valued at $252,000 after buying an additional 200 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Navient Corporation by 9.9% in the second quarter. Russell Investments Group Ltd. now owns 154,716 shares of the credit services provider’s stock valued at $2,577,000 after buying an additional 13,995 shares during the last quarter. Oakbrook Investments LLC boosted its stake in Navient Corporation by 87.2% in the second quarter. Oakbrook Investments LLC now owns 26,210 shares of the credit services provider’s stock valued at $436,000 after buying an additional 12,210 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in Navient Corporation by 3.4% in the second quarter. Nisa Investment Advisors LLC now owns 106,298 shares of the credit services provider’s stock valued at $1,715,000 after buying an additional 3,500 shares during the last quarter. Finally, LS Investment Advisors LLC boosted its stake in Navient Corporation by 6.3% in the second quarter. LS Investment Advisors LLC now owns 20,364 shares of the credit services provider’s stock valued at $339,000 after buying an additional 1,210 shares during the last quarter. Institutional investors and hedge funds own 95.45% of the company’s stock.

Shares of Navient Corporation (NASDAQ NAVI) traded down 0.15% on Friday, hitting $13.68. The stock had a trading volume of 1,485,345 shares. Navient Corporation has a 1-year low of $12.66 and a 1-year high of $17.95. The company has a market capitalization of $3.75 billion, a PE ratio of 7.09 and a beta of 2.43. The firm has a 50-day moving average of $15.48 and a 200 day moving average of $15.10.

Navient Corporation (NASDAQ:NAVI) last released its quarterly earnings results on Tuesday, July 18th. The credit services provider reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. The firm had revenue of $343 million during the quarter, compared to analyst estimates of $331.67 million. Navient Corporation had a net margin of 11.50% and a return on equity of 14.05%. The business’s revenue for the quarter was down 15.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.47 EPS. On average, equities analysts anticipate that Navient Corporation will post $1.76 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.68%. Navient Corporation’s dividend payout ratio (DPR) is currently 33.68%.

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Several equities research analysts have weighed in on the company. BidaskClub cut Navient Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Jefferies Group LLC restated a “hold” rating and set a $16.00 target price on shares of Navient Corporation in a research note on Friday, July 21st. BMO Capital Markets restated a “hold” rating and set a $16.00 target price (down from $17.00) on shares of Navient Corporation in a research note on Thursday, July 20th. Zacks Investment Research cut Navient Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $20.00 target price on shares of Navient Corporation in a research note on Friday, July 14th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $18.55.

About Navient Corporation

Navient Corporation provides asset management and business processing services to education, healthcare and government clients at the federal, state and local levels. The Company holds the portfolio of education loans insured or federally guaranteed under the Federal Family Education Loan Program (FFELP).

Institutional Ownership by Quarter for Navient Corporation (NASDAQ:NAVI)

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