Barclays Lowers Navient (NASDAQ:NAVI) Price Target to $11.00

Navient (NASDAQ:NAVI) had its target price lowered by Barclays from $13.00 to $11.00 in a research note published on Thursday morning, Benzinga reports. The firm currently has an underweight rating on the credit services provider’s stock.

A number of other equities research analysts have also issued reports on the stock. Keefe, Bruyette & Woods cut their price objective on shares of Navient from $19.00 to $17.00 and set a market perform rating for the company in a report on Thursday. Citigroup increased their price objective on shares of Navient from $17.00 to $18.00 and gave the company a neutral rating in a report on Thursday, February 1st. TD Cowen lowered shares of Navient from a market perform rating to an underperform rating and cut their target price for the company from $17.00 to $15.00 in a report on Monday, January 8th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Navient in a report on Wednesday, January 10th. They issued a hold rating and a $19.00 target price for the company. Finally, JPMorgan Chase & Co. raised shares of Navient from an underweight rating to a neutral rating and cut their target price for the company from $18.00 to $17.00 in a report on Wednesday, April 3rd. Three investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to MarketBeat, Navient has a consensus rating of Hold and a consensus price target of $16.30.

Navient Stock Performance

Shares of NASDAQ:NAVI traded down $0.02 during trading on Thursday, hitting $15.74. The company’s stock had a trading volume of 189,318 shares, compared to its average volume of 919,943. The company has a 50-day moving average of $16.56 and a 200-day moving average of $17.10. Navient has a 12 month low of $14.10 and a 12 month high of $19.69. The company has a debt-to-equity ratio of 18.38, a current ratio of 12.52 and a quick ratio of 13.63. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of 10.10 and a beta of 1.38.

Navient (NASDAQ:NAVI) last released its earnings results on Wednesday, April 24th. The credit services provider reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. Navient had a net margin of 3.93% and a return on equity of 12.09%. The company had revenue of $163.00 million for the quarter, compared to analysts’ expectations of $188.04 million. On average, sell-side analysts expect that Navient will post 1.65 earnings per share for the current year.

Navient Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.16 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.64 annualized dividend and a dividend yield of 4.07%. Navient’s dividend payout ratio (DPR) is 41.03%.

Insider Transactions at Navient

In other news, EVP Mark L. Heleen sold 10,000 shares of Navient stock in a transaction 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 sale, the executive vice president now directly owns 385,577 shares in the company, valued at $6,631,924.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 27.99% of the company’s stock.

Institutional Trading of Navient

Institutional investors and hedge funds have recently made changes to their positions in the company. Denali Advisors LLC bought a new stake in shares of Navient in the fourth quarter valued at about $2,441,000. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in Navient in the fourth quarter valued at about $13,546,000. American Century Companies Inc. grew its stake in Navient by 7.4% in the third quarter. American Century Companies Inc. now owns 1,138,526 shares of the credit services provider’s stock valued at $19,605,000 after purchasing an additional 78,186 shares during the last quarter. DekaBank Deutsche Girozentrale grew its stake in Navient by 207.8% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 231,186 shares of the credit services provider’s stock valued at $4,320,000 after purchasing an additional 156,086 shares during the last quarter. Finally, Hsbc Holdings PLC grew its stake in Navient by 21.9% in the third quarter. Hsbc Holdings PLC now owns 196,938 shares of the credit services provider’s stock valued at $3,395,000 after purchasing an additional 35,386 shares during the last quarter. 97.14% of the stock is currently owned by institutional investors.

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.