Navient (NASDAQ:NAVI) PT Lowered to $13.00

Navient (NASDAQ:NAVI) had its price objective reduced by TD Cowen from $14.00 to $13.00 in a research note released on Friday morning, Benzinga reports. They currently have a sell rating on the credit services provider’s stock.

A number of other equities analysts also recently commented on NAVI. Keefe, Bruyette & Woods decreased 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. JPMorgan Chase & Co. decreased their price objective on shares of Navient from $17.00 to $16.00 and set a neutral rating for the company in a report on Thursday. Citigroup lifted their price objective on shares of Navient from $17.00 to $18.00 and gave the stock a neutral rating in a report on Thursday, February 1st. Stephens downgraded shares of Navient from an equal weight rating to an underweight rating and set a $16.00 price objective for the company. in a report on Tuesday, January 2nd. Finally, StockNews.com downgraded shares of Navient from a buy rating to a hold rating in a report on Thursday, February 1st. Three investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Based on data from MarketBeat.com, Navient currently has a consensus rating of Hold and a consensus price target of $16.10.

Navient Stock Down 0.3 %

Shares of NASDAQ:NAVI opened at $15.72 on Friday. The company has a current ratio of 12.52, a quick ratio of 13.63 and a debt-to-equity ratio of 18.38. The company has a fifty day simple moving average of $16.54 and a 200 day simple moving average of $17.09. The firm has a market cap of $1.76 billion, a PE ratio of 10.08 and a beta of 1.38. Navient has a 12-month low of $14.10 and a 12-month high of $19.69.

Navient (NASDAQ:NAVI) last issued its quarterly earnings results on Wednesday, April 24th. The credit services provider reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. The business had revenue of $163.00 million during the quarter, compared to analyst estimates of $188.04 million. Navient had a net margin of 3.93% and a return on equity of 12.09%. On average, equities research analysts anticipate that Navient will post 1.74 EPS for the current fiscal year.

Navient Announces Dividend

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

Insiders Place Their Bets

In other Navient news, EVP Mark L. Heleen sold 10,000 shares of the company’s stock in a transaction dated Wednesday, January 31st. The shares were 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 of the company’s stock, valued at $6,631,924.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 27.99% of the stock is owned by company insiders.

Institutional Trading of Navient

A number of hedge funds have recently bought and sold shares of the company. New Mexico Educational Retirement Board purchased a new stake in Navient during the first quarter valued at about $649,000. Denali Advisors LLC lifted its position in shares of Navient by 115.9% in the first quarter. Denali Advisors LLC now owns 283,000 shares of the credit services provider’s stock worth $4,924,000 after purchasing an additional 151,900 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Navient in the first quarter worth approximately $36,000. Nomura Holdings Inc. purchased a new stake in shares of Navient in the fourth quarter worth approximately $783,000. Finally, Wellington Management Group LLP lifted its position in shares of Navient by 15.5% in the fourth quarter. Wellington Management Group LLP now owns 343,761 shares of the credit services provider’s stock worth $6,401,000 after purchasing an additional 46,230 shares in the last quarter. 97.14% of the stock is owned by hedge funds and other institutional investors.

About Navient

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.