Navient (NASDAQ:NAVI) Price Target Cut to $10.00

Navient (NASDAQ:NAVI) had its price objective lowered by Barclays from $11.00 to $10.00 in a research report sent to investors on Tuesday morning, Benzinga reports. The brokerage currently has an underweight rating on the credit services provider’s stock.

Several other research firms have also issued reports on NAVI. TD Cowen lowered their target price on shares of Navient from $14.00 to $13.00 and set a sell rating on the stock in a research note on Friday, April 26th. JPMorgan Chase & Co. decreased their price target on shares of Navient from $16.00 to $15.00 and set a neutral rating on the stock in a research note on Monday. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Navient from $17.00 to $15.00 and set a market perform rating on the stock in a research note on Monday. Three equities research analysts have rated the stock with a sell rating and eight have issued 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 target price of $15.70.

Navient Trading Up 5.3 %

NAVI stock opened at $14.83 on Tuesday. The company’s 50-day simple moving average is $14.80 and its 200-day simple moving average is $16.14. The company has a quick ratio of 12.52, a current ratio of 12.52 and a debt-to-equity ratio of 18.38. Navient has a 52-week low of $13.95 and a 52-week high of $19.69. The firm has a market cap of $1.66 billion, a P/E ratio of 9.51 and a beta of 1.40.

Navient (NASDAQ:NAVI) last posted its earnings results on Wednesday, April 24th. The credit services provider reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.05. Navient had a net margin of 3.93% and a return on equity of 12.09%. The business had revenue of $163.00 million for the quarter, compared to analyst estimates of $188.04 million. As a group, equities analysts forecast that Navient will post 1.64 EPS for the current fiscal year.

Navient Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date of this dividend was Friday, June 7th. Navient’s dividend payout ratio (DPR) is 41.03%.

Insiders Place Their Bets

In other Navient news, EVP Mark L. Heleen sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $16.00, for a total value of $160,000.00. Following the transaction, the executive vice president now directly owns 393,611 shares of the company’s stock, valued at approximately $6,297,776. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 27.99% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC acquired a new stake in shares of Navient during the 1st quarter worth approximately $36,000. Covestor Ltd increased its holdings in shares of Navient by 23.1% during the 1st quarter. Covestor Ltd now owns 6,245 shares of the credit services provider’s stock worth $109,000 after buying an additional 1,173 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Navient by 1,762.0% during the 4th quarter. International Assets Investment Management LLC now owns 9,310 shares of the credit services provider’s stock worth $173,000 after buying an additional 8,810 shares during the last quarter. Boulder Hill Capital Management LP acquired a new stake in shares of Navient during the 4th quarter worth approximately $188,000. Finally, Dimension Capital Management LLC acquired a new stake in shares of Navient during the 3rd quarter worth approximately $195,000. 97.14% of the stock is owned by hedge funds and other 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.