North Star Asset Management Inc. increased its stake in Navient Corp. (NASDAQ:NAVI) by 7.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 429,713 shares of the company’s stock after buying an additional 30,271 shares during the period. North Star Asset Management Inc.’s holdings in Navient Corp. were worth $5,135,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Chicago Equity Partners LLC raised its position in Navient Corp. by 1,854.3% in the second quarter. Chicago Equity Partners LLC now owns 1,310,850 shares of the company’s stock valued at $15,665,000 after buying an additional 1,243,775 shares in the last quarter. Mount Lucas Management LP bought a new position in Navient Corp. during the first quarter valued at approximately $11,937,000. JPMorgan Chase & Co. raised its position in Navient Corp. by 30.9% in the first quarter. JPMorgan Chase & Co. now owns 3,982,867 shares of the company’s stock valued at $47,675,000 after buying an additional 939,208 shares in the last quarter. Barclays PLC raised its position in Navient Corp. by 397.7% in the first quarter. Barclays PLC now owns 661,364 shares of the company’s stock valued at $7,276,000 after buying an additional 528,476 shares in the last quarter. Finally, Kingstown Capital Management L.P. raised its position in Navient Corp. by 14.3% in the first quarter. Kingstown Capital Management L.P. now owns 4,000,000 shares of the company’s stock valued at $47,880,000 after buying an additional 500,000 shares in the last quarter. Institutional investors and hedge funds own 95.21% of the company’s stock.
Shares of Navient Corp. (NASDAQ:NAVI) traded down 0.07% during mid-day trading on Friday, reaching $13.89. 1,202,956 shares of the company’s stock were exchanged. Navient Corp. has a 52 week low of $8.20 and a 52 week high of $14.92. The stock has a 50 day moving average price of $14.21 and a 200 day moving average price of $13.35. The stock has a market cap of $4.40 billion, a price-to-earnings ratio of 5.90 and a beta of 2.31.
Navient Corp. (NASDAQ:NAVI) last issued its earnings results on Tuesday, July 19th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.44 by $0.03. Navient Corp. had a return on equity of 16.77% and a net margin of 16.75%. Equities research analysts predict that Navient Corp. will post $1.88 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Friday, December 2nd will be given a dividend of $0.16 per share. The ex-dividend date is Wednesday, November 30th. This represents a $0.64 dividend on an annualized basis and a yield of 4.60%. Navient Corp.’s dividend payout ratio is currently 27.47%.
Several research analysts have recently commented on NAVI shares. Zacks Investment Research upgraded Navient Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, September 14th. BMO Capital Markets set a $17.00 price objective on shares of Navient Corp. and gave the company a “hold” rating in a report on Thursday, July 21st. Finally, Goldman Sachs Group Inc. lowered shares of Navient Corp. from a “buy” rating to a “neutral” rating and set a $15.00 price objective on the stock. in a report on Wednesday, July 20th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $15.57.
In related news, Director William M. Diefenderfer III sold 16,300 shares of the business’s stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $14.20, for a total transaction of $231,460.00. Following the completion of the transaction, the director now owns 88,737 shares in the company, valued at approximately $1,260,065.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bates Ann Torre sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $14.23, for a total value of $128,070.00. The disclosure for this sale can be found here. Corporate insiders own 1.05% of the company’s stock.
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.