Navient Corporation (NAVI) Sets New 1-Year Low at $11.93

Navient Corporation (NASDAQ:NAVI) hit a new 52-week low on Wednesday . The company traded as low as $11.93 and last traded at $11.91, with a volume of 2,957,722 shares. The stock had previously closed at $12.47.

A number of equities research analysts have recently weighed in on NAVI shares. Credit Suisse Group upgraded shares of Navient Corporation from a “neutral” rating to an “outperform” rating and set a $16.50 price objective for the company in a report on Friday, September 8th. Zacks Investment Research upgraded shares of Navient Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, September 19th. ValuEngine upgraded shares of Navient Corporation from a “buy” rating to a “strong-buy” rating in a report on Friday, June 16th. BidaskClub lowered shares of Navient Corporation from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Finally, Compass Point upgraded shares of Navient Corporation from a “neutral” rating to a “buy” rating and set a $16.50 price target for the company in a report on Tuesday, September 5th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Navient Corporation presently has an average rating of “Hold” and a consensus price target of $18.30.

Navient Corporation (NASDAQ:NAVI) last released its earnings results on Tuesday, July 18th. The credit services provider reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.02. Navient Corporation had a return on equity of 14.05% and a net margin of 11.50%. The business had revenue of $343.00 million during the quarter, compared to the consensus estimate of $331.67 million. During the same period last year, the company earned $0.47 earnings per share. The business’s revenue for the quarter was down 15.9% compared to the same quarter last year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were given a dividend of $0.16 per share. The ex-dividend date was Wednesday, August 30th. This represents a $0.64 annualized dividend and a dividend yield of 5.42%. Navient Corporation’s dividend payout ratio (DPR) is 33.68%.

Navient Corporation announced that its board has authorized a stock repurchase program on Wednesday, October 4th that allows the company to buyback shares. This buyback authorization allows the credit services provider to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

In other news, EVP John M. Kane sold 28,886 shares of Navient Corporation stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $15.00, for a total transaction of $433,290.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.68% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Navient Corporation by 4.3% during the first quarter. Vanguard Group Inc. now owns 39,295,006 shares of the credit services provider’s stock worth $579,995,000 after purchasing an additional 1,606,973 shares during the last quarter. BlackRock Inc. increased its stake in shares of Navient Corporation by 2,615.0% during the first quarter. BlackRock Inc. now owns 21,395,479 shares of the credit services provider’s stock valued at $315,797,000 after buying an additional 20,607,439 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Navient Corporation by 1.3% during the second quarter. Dimensional Fund Advisors LP now owns 9,130,065 shares of the credit services provider’s stock valued at $152,017,000 after buying an additional 113,420 shares during the period. Prudential Financial Inc. increased its stake in shares of Navient Corporation by 446.1% during the second quarter. Prudential Financial Inc. now owns 5,696,350 shares of the credit services provider’s stock valued at $94,845,000 after buying an additional 4,653,171 shares during the period. Finally, LSV Asset Management increased its stake in shares of Navient Corporation by 6.3% during the second quarter. LSV Asset Management now owns 5,429,642 shares of the credit services provider’s stock valued at $90,403,000 after buying an additional 319,939 shares during the period. Institutional investors and hedge funds own 93.02% of the company’s stock.

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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).

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