An issue of Navient Corp. (NASDAQ:NAVI) debt fell 0.5% as a percentage of its face value during trading on Monday. The high-yield debt issue has a 5% coupon and will mature on October 26, 2020. The debt is now trading at $101.63 and was trading at $101.81 last week. Price changes in a company’s debt in credit markets sometimes anticipate parallel changes in its stock price.
Separately, Zacks Investment Research upgraded shares of Navient Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, September 14th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Navient Corp. has an average rating of “Buy” and a consensus target price of $15.57.
Navient Corp. (NASDAQ:NAVI) traded down 0.91% on Monday, reaching $17.49. 2,307,344 shares of the company traded hands. The company has a market capitalization of $5.30 billion, a PE ratio of 7.18 and a beta of 2.37. Navient Corp. has a 52-week low of $8.20 and a 52-week high of $17.95. The stock has a 50-day moving average of $14.80 and a 200 day moving average of $13.83.
Navient Corp. (NASDAQ:NAVI) last issued its earnings results on Tuesday, October 18th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Navient Corp. had a net margin of 16.31% and a return on equity of 16.50%. The firm had revenue of $405 million for the quarter, compared to analyst estimates of $391.75 million. During the same quarter last year, the business posted $0.47 earnings per share. The company’s quarterly revenue was down 12.0% on a year-over-year basis. On average, equities analysts forecast that Navient Corp. will post $1.83 EPS for the current 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 is Wednesday, November 30th. This represents a $0.64 dividend on an annualized basis and a yield of 3.66%. Navient Corp.’s dividend payout ratio is currently 26.34%.
A number of hedge funds have recently modified their holdings of NAVI. Legal & General Group Plc raised its stake in shares of Navient Corp. by 11.2% in the first quarter. Legal & General Group Plc now owns 1,817,596 shares of the company’s stock worth $21,757,000 after buying an additional 182,611 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Navient Corp. by 36.9% in the first quarter. Envestnet Asset Management Inc. now owns 156,871 shares of the company’s stock worth $1,878,000 after buying an additional 42,295 shares in the last quarter. Squarepoint Ops LLC raised its stake in shares of Navient Corp. by 172.1% in the first quarter. Squarepoint Ops LLC now owns 99,875 shares of the company’s stock worth $1,196,000 after buying an additional 63,168 shares in the last quarter. Exxonmobil Investment Management Inc. TX increased its position in Navient Corp. by 2.5% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 85,554 shares of the company’s stock valued at $1,022,000 after buying an additional 2,086 shares during the last quarter. Finally, Atria Investments LLC acquired a new position in Navient Corp. during the second quarter valued at about $593,000. Hedge funds and other institutional investors own 94.08% of the company’s stock.