Navient Co. (NASDAQ:NAVI) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its position in shares of Navient Co. (NASDAQ:NAVI) by 0.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 322,820 shares of the credit services provider’s stock after buying an additional 2,991 shares during the quarter. Victory Capital Management Inc.’s holdings in Navient were worth $4,700,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NAVI. ProShare Advisors LLC grew its holdings in shares of Navient by 4.1% in the first quarter. ProShare Advisors LLC now owns 16,794 shares of the credit services provider’s stock valued at $292,000 after purchasing an additional 668 shares in the last quarter. Signaturefd LLC grew its position in shares of Navient by 22.1% in the second quarter. Signaturefd LLC now owns 4,797 shares of the credit services provider’s stock valued at $70,000 after purchasing an additional 869 shares during the last quarter. Covestor Ltd increased its position in Navient by 23.1% during the first quarter. Covestor Ltd now owns 6,245 shares of the credit services provider’s stock worth $109,000 after buying an additional 1,173 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in shares of Navient by 1.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 133,901 shares of the credit services provider’s stock worth $2,329,000 after acquiring an additional 1,444 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in Navient in the 1st quarter valued at about $36,000. Institutional investors and hedge funds own 97.14% of the company’s stock.

Navient Stock Down 0.2 %

Shares of Navient stock opened at $15.74 on Tuesday. The stock has a 50-day simple moving average of $15.47 and a 200-day simple moving average of $15.59. Navient Co. has a 52-week low of $13.95 and a 52-week high of $19.68. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of 10.09 and a beta of 1.39. The company has a debt-to-equity ratio of 17.30, a current ratio of 9.99 and a quick ratio of 9.99.

Navient (NASDAQ:NAVI) last announced its quarterly earnings results on Wednesday, July 24th. The credit services provider reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.14). Navient had a return on equity of 11.06% and a net margin of 3.41%. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $157.27 million. During the same period in the prior year, the firm earned $0.70 EPS. On average, equities research analysts expect that Navient Co. will post 1.43 earnings per share for the current fiscal year.

Navient Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.64 annualized dividend and a yield of 4.07%. Navient’s dividend payout ratio (DPR) is 41.03%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on NAVI shares. JPMorgan Chase & Co. cut their price objective on shares of Navient from $16.00 to $15.00 and set a “neutral” rating on the stock in a report on Monday, July 8th. Barclays cut their price objective on Navient from $11.00 to $10.00 and set an “underweight” rating on the stock in a report on Tuesday, July 9th. Finally, Keefe, Bruyette & Woods boosted their target price on Navient from $15.00 to $16.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. Three analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $15.56.

Navient Company Profile

Navient Corporation provides technology-enabled education finance and business processing solutions for education, health care, and government clients in the United States. It operates through three segments: Federal Education Loans, Consumer Lending, and Business Processing. The company owns Federal Family Education Loan Program (FFELP) loans that are insured or guaranteed by state or not-for-profit agencies; and performs servicing on its portfolios, as well as federal education loans held by other institutions.