Navient (NASDAQ:NAVI) Price Target Lowered to $16.00 at JPMorgan Chase & Co.

Navient (NASDAQ:NAVI) had its price objective dropped by equities researchers at JPMorgan Chase & Co. from $17.00 to $16.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the credit services provider’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 2.70% from the company’s previous close.

A number of other research firms have also weighed in on NAVI. Citigroup increased their target price on shares of Navient from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, February 1st. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Navient in a research note on Wednesday, January 10th. They issued a “hold” rating and a $19.00 price target for the company. Keefe, Bruyette & Woods decreased their price target on shares of Navient from $19.00 to $17.00 and set a “market perform” rating for the company in a research note on Thursday. Stephens downgraded shares of Navient from an “equal weight” rating to an “underweight” rating and set a $16.00 price target for the company. in a research note on Tuesday, January 2nd. Finally, TD Cowen downgraded shares of Navient from a “market perform” rating to an “underperform” rating and decreased their price target for the stock from $17.00 to $15.00 in a research note on Monday, January 8th. Three investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $16.30.

Navient Trading Down 3.2 %

NASDAQ NAVI traded down $0.51 during trading on Thursday, hitting $15.58. 725,118 shares of the company’s stock traded hands, compared to its average volume of 918,170. The stock has a fifty day moving average of $16.57 and a two-hundred day moving average of $17.11. The company has a debt-to-equity ratio of 19.35, a current ratio of 13.64 and a quick ratio of 13.63. Navient has a 12-month low of $14.10 and a 12-month high of $19.69. The firm has a market cap of $1.75 billion, a P/E ratio of 8.75 and a beta of 1.38.

Navient (NASDAQ:NAVI) last posted its earnings results on Wednesday, April 24th. The credit services provider reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. The company had revenue of $163.00 million during the quarter, compared to analyst estimates of $188.04 million. Navient had a net margin of 4.72% and a return on equity of 14.17%. As a group, sell-side analysts expect that Navient will post 2.12 EPS for the current year.

Insider Activity at Navient

In related news, EVP Mark L. Heleen sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $17.20, for a total transaction of $172,000.00. Following the completion of the transaction, the executive vice president now owns 385,577 shares of the company’s stock, valued at approximately $6,631,924.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 27.99% of the stock is owned by corporate insiders.

Institutional Trading of Navient

A number of institutional investors and hedge funds have recently modified their holdings of the business. Donald Smith & CO. Inc. boosted its stake in shares of Navient by 31.5% in the 4th quarter. Donald Smith & CO. Inc. now owns 3,586,501 shares of the credit services provider’s stock worth $66,781,000 after buying an additional 858,890 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Navient by 7.4% in the 3rd quarter. American Century Companies Inc. now owns 1,138,526 shares of the credit services provider’s stock worth $19,605,000 after buying an additional 78,186 shares during the last quarter. Bridgeway Capital Management LLC boosted its stake in shares of Navient by 8.8% in the 4th quarter. Bridgeway Capital Management LLC now owns 811,826 shares of the credit services provider’s stock worth $15,116,000 after buying an additional 65,576 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in shares of Navient in the 4th quarter worth $13,546,000. Finally, Invesco Ltd. boosted its stake in shares of Navient by 14.5% in the 3rd quarter. Invesco Ltd. now owns 704,608 shares of the credit services provider’s stock worth $12,133,000 after buying an additional 89,220 shares during the last quarter. Institutional investors own 97.14% of the company’s stock.

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.