Trading Report: The Shell Asset Management Co. Reduced the position of Navient Corp. (NAVI)

The Shell Asset Management Co. Reduced the position of Navient Corp. (NAVI)

Shell Asset Management Co. lowered its stake in Navient Corp. (NASDAQ:NAVI) by 6.0% during the second quarter, Holdings Channel reports. The firm owned 18,679 shares of the company’s stock after selling 1,190 shares during the period. Shell Asset Management Co.’s holdings in Navient Corp. were worth $223,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of NAVI. Balasa Dinverno & Foltz LLC purchased a new stake in Navient Corp. during the second quarter valued at approximately $122,000. BB&T Securities LLC purchased a new stake in Navient Corp. during the first quarter valued at approximately $124,000. Fox Run Management L.L.C. purchased a new stake in Navient Corp. during the second quarter valued at approximately $172,000. Oakbrook Investments LLC raised its stake in Navient Corp. by 12.2% in the second quarter. Oakbrook Investments LLC now owns 23,500 shares of the company’s stock valued at $281,000 after buying an additional 2,550 shares during the period. Finally, Pacad Investment Ltd. purchased a new stake in Navient Corp. during the first quarter valued at approximately $313,000. Institutional investors own 95.21% of the company’s stock.

Shares of Navient Corp. (NASDAQ:NAVI) traded down 1.49% during midday trading on Thursday, hitting $13.90. 2,496,345 shares of the stock were exchanged. The firm has a market cap of $4.41 billion, a P/E ratio of 5.90 and a beta of 2.31. The stock’s 50 day moving average is $14.22 and its 200 day moving average is $13.35. Navient Corp. has a 12-month low of $8.20 and a 12-month high of $14.92.

Navient Corp. (NASDAQ:NAVI) last released its earnings results on Tuesday, July 19th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.03. Navient Corp. had a net margin of 16.75% and a return on equity of 16.77%. On average, equities research analysts forecast that Navient Corp. will post $1.88 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Friday, December 2nd will be given a $0.16 dividend. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $0.64 dividend on an annualized basis and a yield of 4.60%. Navient Corp.’s payout ratio is 27.47%.

NAVI has been the subject of a number of analyst reports. Zacks Investment Research upgraded Navient Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, September 20th. Goldman Sachs Group Inc. lowered Navient Corp. from a “buy” rating to a “neutral” rating and set a $15.00 price target for the company. in a research report on Wednesday, July 20th. Finally, BMO Capital Markets set a $17.00 price target on Navient Corp. and gave the company a “hold” rating in a research report on Thursday, July 21st. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $15.57.

In other news, Director William M. Diefenderfer III sold 16,300 shares of the stock in a transaction on Friday, August 19th. The shares were sold at an average price of $14.20, for a total transaction of $231,460.00. Following the transaction, the director now owns 88,737 shares in the company, valued at approximately $1,260,065.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Bates Ann Torre sold 9,000 shares of the stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $14.23, for a total transaction of $128,070.00. The disclosure for this sale can be found here. 1.05% of the stock is currently owned by company insiders.

About Navient Corp.

Navient Corporation is a loan management, servicing and asset recovery company. The Company holds the portfolio of education loans insured or guaranteed under the Federal Family Education Loan Program (FFELP), as well as the portfolio of Private Education Loans. FFELP Loans are insured or guaranteed by state based on guaranty agreements among the United States Department of Education (ED) and these agencies.

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