VIRGINIA RETIREMENT SYSTEMS ET Al Takes $1.14 Million Position in Navient Corporation $NAVI

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Navient Corporation (NASDAQ:NAVI) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 133,950 shares of the credit services provider’s stock, valued at approximately $1,140,000.

Several other institutional investors have also bought and sold shares of NAVI. Kestra Advisory Services LLC purchased a new stake in Navient in the 4th quarter valued at $44,000. PNC Financial Services Group Inc. boosted its holdings in Navient by 39.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,228 shares of the credit services provider’s stock worth $55,000 after acquiring an additional 1,191 shares during the last quarter. Versant Capital Management Inc boosted its holdings in Navient by 552.6% during the 2nd quarter. Versant Capital Management Inc now owns 4,855 shares of the credit services provider’s stock worth $41,000 after acquiring an additional 4,111 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Navient by 325.6% in the 1st quarter. Parallel Advisors LLC now owns 5,005 shares of the credit services provider’s stock worth $41,000 after acquiring an additional 3,829 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of Navient by 3,045.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 5,127 shares of the credit services provider’s stock worth $67,000 after acquiring an additional 4,964 shares in the last quarter. Institutional investors own 97.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on NAVI shares. JPMorgan Chase & Co. lowered their target price on shares of Navient from $9.50 to $8.00 and set a “neutral” rating for the company in a report on Monday, July 13th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Navient in a research report on Wednesday, June 24th. Finally, TD Cowen reaffirmed a “sell” rating on shares of Navient in a research report on Friday, August 7th. Five research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $9.14.

Navient Stock Up 3.0%

NAVI stock opened at $9.42 on Friday. The stock’s fifty day simple moving average is $8.94 and its two-hundred day simple moving average is $8.57. The company has a current ratio of 10.53, a quick ratio of 10.53 and a debt-to-equity ratio of 16.73. Navient Corporation has a 1-year low of $7.33 and a 1-year high of $13.50. The stock has a market cap of $883.41 million, a P/E ratio of -18.84 and a beta of 1.18.

Navient (NASDAQ:NAVI) last announced its earnings results on Thursday, August 6th. The credit services provider reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.09. The firm had revenue of $150.00 million during the quarter, compared to analyst estimates of $142.87 million. Navient had a positive return on equity of 4.68% and a negative net margin of 1.64%.During the same period last year, the firm posted $0.20 EPS. Analysts expect that Navient Corporation will post 0.78 EPS for the current year.

Navient Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be given a dividend of $0.16 per share. The ex-dividend date is Friday, September 4th. This represents a $0.64 annualized dividend and a yield of 6.8%. Navient’s dividend payout ratio is presently -128.00%.

Navient Company Profile

Navient Corporation (NASDAQ: NAVI) is a specialized provider of asset management and business processing solutions, with a primary focus on student loan servicing. Established in 2014 through the separation from Sallie Mae, Navient assumed responsibility for servicing federal and private education loans, positioning itself as one of the largest servicers of higher education debt in the United States.

The company’s core activities center on federal student loan servicing under contracts with the U.S.