Navient (NASDAQ:NAVI) Price Target Lowered to $13.00 at TD Cowen

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

Several other equities research analysts have also issued reports on the company. Barclays raised their price objective on Navient from $10.00 to $11.00 and gave the company an “underweight” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. boosted their price objective on shares of Navient from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, October 7th. Bank of America initiated coverage on shares of Navient in a report on Monday, September 30th. They issued a “neutral” rating and a $17.00 target price for the company. Finally, Keefe, Bruyette & Woods upped their price target on shares of Navient from $15.00 to $16.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $15.78.

Navient Price Performance

Shares of NASDAQ NAVI traded down $0.24 during mid-day trading on Friday, hitting $13.99. 702,822 shares of the company’s stock traded hands, compared to its average volume of 784,376. The company has a market capitalization of $1.53 billion, a P/E ratio of 20.28 and a beta of 1.39. Navient has a 1 year low of $13.95 and a 1 year high of $19.68. The company has a debt-to-equity ratio of 16.59, a current ratio of 9.49 and a quick ratio of 9.99. The company’s 50-day moving average is $15.58 and its two-hundred day moving average is $15.29.

Navient Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.57%. The ex-dividend date was Friday, September 6th. Navient’s payout ratio is 92.75%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NAVI. Allspring Global Investments Holdings LLC purchased a new stake in shares of Navient in the 1st quarter worth approximately $36,000. BNP Paribas Financial Markets boosted its holdings in shares of Navient by 265.4% in the 1st quarter. BNP Paribas Financial Markets now owns 128,690 shares of the credit services provider’s stock valued at $2,239,000 after buying an additional 93,469 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Navient in the 1st quarter valued at about $636,000. Empowered Funds LLC grew its position in shares of Navient by 7.7% in the 1st quarter. Empowered Funds LLC now owns 391,401 shares of the credit services provider’s stock worth $6,810,000 after buying an additional 27,997 shares during the last quarter. Finally, Sei Investments Co. lifted its position in Navient by 11.7% during the first quarter. Sei Investments Co. now owns 99,971 shares of the credit services provider’s stock valued at $1,740,000 after acquiring an additional 10,487 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.