Zurcher Kantonalbank Zurich Cantonalbank decreased its position in Navient Corporation (NASDAQ:NAVI) by 16.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,644 shares of the credit services provider’s stock after selling 10,336 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Navient Corporation were worth $893,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of NAVI. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Navient Corporation by 1.7% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 6,952 shares of the credit services provider’s stock valued at $103,000 after buying an additional 118 shares during the period. Ameritas Investment Partners Inc. bought a new stake in shares of Navient Corporation in the first quarter valued at approximately $112,000. Creative Planning boosted its stake in shares of Navient Corporation by 7.2% in the second quarter. Creative Planning now owns 7,066 shares of the credit services provider’s stock valued at $118,000 after buying an additional 472 shares during the period. Jane Street Group LLC bought a new stake in shares of Navient Corporation in the first quarter valued at approximately $153,000. Finally, Grove Bank & Trust boosted its stake in shares of Navient Corporation by 33.3% in the second quarter. Grove Bank & Trust now owns 9,280 shares of the credit services provider’s stock valued at $154,000 after buying an additional 2,320 shares during the period. 92.65% of the stock is currently owned by institutional investors.
Shares of Navient Corporation (NASDAQ:NAVI) opened at 14.13 on Tuesday. The firm’s 50-day moving average price is $13.98 and its 200 day moving average price is $14.84. The company has a market capitalization of $3.87 billion, a PE ratio of 7.33 and a beta of 2.44. Navient Corporation has a 1-year low of $12.66 and a 1-year high of $17.95.
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. Equities analysts predict that Navient Corporation will post $1.76 EPS 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 4.53%. Navient Corporation’s dividend payout ratio (DPR) is currently 33.68%.
Several equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $20.00 price target on shares of Navient Corporation in a research note on Friday, July 14th. Compass Point upgraded Navient Corporation from a “neutral” rating to a “buy” rating and set a $16.50 price target for the company in a research note on Tuesday, September 5th. BidaskClub cut Navient Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. BMO Capital Markets reiterated a “hold” rating and issued a $16.00 price target (down from $17.00) on shares of Navient Corporation in a research note on Thursday, July 20th. Finally, Stifel Nicolaus boosted their price target on Navient Corporation from $24.00 to $26.00 and gave the company a “hold” rating in a research note on Monday, June 12th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $18.23.
Navient Corporation Profile
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).
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