Inscription Capital LLC acquired a new stake in shares of Navient Co. (NASDAQ:NAVI) during the second quarter, Holdings Channel reports. The fund acquired 20,280 shares of the credit services provider’s stock, valued at approximately $392,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of Montreal Can boosted its holdings in Navient by 9.4% during the 1st quarter. Bank of Montreal Can now owns 505,338 shares of the credit services provider’s stock valued at $7,344,000 after acquiring an additional 43,240 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Navient by 72.2% during the first quarter. Russell Investments Group Ltd. now owns 300,261 shares of the credit services provider’s stock valued at $4,293,000 after purchasing an additional 125,944 shares during the period. Brandywine Global Investment Management LLC bought a new position in shares of Navient in the first quarter worth approximately $4,956,000. Shell Asset Management Co. increased its stake in shares of Navient by 5.7% in the second quarter. Shell Asset Management Co. now owns 21,858 shares of the credit services provider’s stock worth $423,000 after buying an additional 1,180 shares during the period. Finally, AlphaCrest Capital Management LLC bought a new stake in Navient during the 1st quarter valued at $318,000. Hedge funds and other institutional investors own 87.36% of the company’s stock.
A number of equities analysts have issued reports on the stock. Seaport Res Ptn restated a “neutral” rating on shares of Navient in a research report on Thursday, September 30th. Credit Suisse Group raised their price target on shares of Navient from $15.50 to $17.50 and gave the company a “neutral” rating in a research report on Friday, July 2nd. Barclays upped their target price on Navient from $20.00 to $23.00 and gave the stock an “overweight” rating in a research note on Friday, July 9th. Zacks Investment Research lowered shares of Navient from a “strong-buy” rating to a “hold” rating and set a $20.00 price target on the stock. in a research note on Tuesday, June 29th. Finally, Keefe, Bruyette & Woods cut shares of Navient from an “outperform” rating to a “market perform” rating and lifted their target price for the stock from $19.00 to $20.00 in a research note on Tuesday, July 6th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Navient currently has an average rating of “Hold” and an average target price of $20.72.
Navient (NASDAQ:NAVI) last released its quarterly earnings results on Monday, July 26th. The credit services provider reported $0.94 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.09. The firm had revenue of $295.00 million for the quarter, compared to analyst estimates of $268.06 million. Navient had a return on equity of 32.60% and a net margin of 25.84%. During the same quarter last year, the company posted $0.92 earnings per share. As a group, research analysts predict that Navient Co. will post 4.27 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 17th. Shareholders of record on Friday, September 3rd were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend was Thursday, September 2nd. Navient’s payout ratio is 19.75%.
Navient Corp. engages in the provision of asset management and business processing solutions for education, healthcare and government clients at the federal, state and local levels. It operates through the following segments: Federal Education Loans, Consumer Lending, Business Processing and Other. The Federal Education Loans segment owns FFELP Loans and performs servicing and asset recovery services on FFELP Loan portfolio.
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