Navient (NASDAQ:NAVI) Price Target Cut to $11.00 by Analysts at Barclays

Navient (NASDAQ:NAVI) had its target price cut by Barclays from $13.00 to $11.00 in a report published on Thursday morning, Benzinga reports. They currently have an underweight rating on the credit services provider’s stock.

Other analysts also recently issued reports about the company. JPMorgan Chase & Co. raised Navient from an underweight rating to a neutral rating and reduced their price objective for the company from $18.00 to $17.00 in a research note on Wednesday, April 3rd. StockNews.com cut Navient from a buy rating to a hold rating in a report on Thursday, February 1st. Citigroup upped their price target on Navient from $17.00 to $18.00 and gave the stock a neutral rating in a report on Thursday, February 1st. TD Cowen cut Navient from a market perform rating to an underperform rating and lowered their target price for the company from $17.00 to $15.00 in a report on Monday, January 8th. Finally, Keefe, Bruyette & Woods reduced their price target on Navient from $19.00 to $17.00 and set a market perform rating on the stock in a research note on Thursday. Three research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $16.30.

Navient Stock Performance

Navient stock traded down $0.02 during trading hours on Thursday, hitting $15.74. 189,318 shares of the stock traded hands, compared to its average volume of 919,943. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of 10.10 and a beta of 1.38. The firm’s 50 day moving average price is $16.56 and its 200-day moving average price is $17.10. The company has a debt-to-equity ratio of 18.38, a current ratio of 12.52 and a quick ratio of 13.63. Navient has a 1 year low of $14.10 and a 1 year high of $19.69.

Navient (NASDAQ:NAVI) last posted its quarterly earnings results on Wednesday, April 24th. The credit services provider reported $0.63 EPS for the quarter, beating the consensus estimate of $0.58 by $0.05. Navient had a return on equity of 12.09% and a net margin of 3.93%. The firm had revenue of $163.00 million during the quarter, compared to analysts’ expectations of $188.04 million. As a group, equities analysts expect that Navient will post 1.65 EPS for the current fiscal year.

Navient Dividend Announcement

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

Insider Buying and Selling

In related news, EVP Mark L. Heleen sold 10,000 shares of Navient stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $17.20, for a total value of $172,000.00. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 27.99% of the company’s stock.

Institutional Investors Weigh In On Navient

A number of hedge funds have recently made changes to their positions in NAVI. Impact Partnership Wealth LLC grew its position in Navient by 277.8% during the 3rd quarter. Impact Partnership Wealth LLC now owns 1,511 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 1,111 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Navient during the 1st quarter valued at $36,000. CWM LLC grew its holdings in shares of Navient by 314.6% during the 3rd quarter. CWM LLC now owns 2,193 shares of the credit services provider’s stock valued at $38,000 after acquiring an additional 1,664 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Navient by 13.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 5,236 shares of the credit services provider’s stock valued at $90,000 after purchasing an additional 607 shares during the last quarter. Finally, Exchange Traded Concepts LLC lifted its stake in shares of Navient by 367.7% in the 3rd quarter. Exchange Traded Concepts LLC now owns 6,795 shares of the credit services provider’s stock valued at $117,000 after purchasing an additional 5,342 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.