We last bought Navient Corp. (NAVI), the nation’s largest student loan servicer, in January 2016, recalls buyback specialist David Fried, editor of The Buyback Letter.
Navient is the nation’s leading loan management, servicing and asset recovery company, servicing more than $300 billion in student loans from more than 12 million customers.
The company is based in Wilmington, DE, and was formed in 2014 by the split of Sallie Mae into two entities—Sallie Mae Bank and Navient. It has 6,000 employees across the U.S.
In early March, Navient launched The Career Playbook, a YouTube-based video series to enable aspiring professionals of all ages to jumpstart and manage their careers.
Full-year 2016 financial results showed GAAP net income was $681 million, and Core earnings were $587 million.
In 2016 NAVI bought back $755 million in stock, and authorized another $600 million share repurchase effective Jan. 2017. The company has reduced shares outstanding by 15.11% in the past 12 months.
