JPMorgan Chase & Co. Cuts Navient (NASDAQ:NAVI) Price Target to $11.00

Navient (NASDAQ:NAVI) had its price target decreased by JPMorgan Chase & Co. from $13.50 to $11.00 in a research report sent to investors on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the credit services provider’s stock.

Other equities analysts also recently issued reports about the company. StockNews.com downgraded Navient from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods dropped their price target on shares of Navient from $16.00 to $14.00 and set a “market perform” rating on the stock in a research report on Monday, March 31st. Seaport Res Ptn upgraded shares of Navient from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 21st. Bank of America dropped their target price on shares of Navient from $17.00 to $16.00 and set a “neutral” rating on the stock in a report on Tuesday, December 24th. Finally, TD Cowen upgraded Navient from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $13.00.

Navient Trading Down 4.8 %

NAVI opened at $11.42 on Tuesday. The company has a 50-day simple moving average of $13.22 and a 200 day simple moving average of $14.15. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of 9.84 and a beta of 1.24. The company has a quick ratio of 9.49, a current ratio of 9.48 and a debt-to-equity ratio of 16.35. Navient has a twelve month low of $10.53 and a twelve month high of $16.97.

Navient (NASDAQ:NAVI) last announced its quarterly earnings data on Wednesday, January 29th. The credit services provider reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.01). Navient had a return on equity of 6.69% and a net margin of 2.96%. Analysts predict that Navient will post 1.04 EPS for the current fiscal year.

Navient Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were paid a $0.16 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.64 annualized dividend and a yield of 5.60%. Navient’s dividend payout ratio is currently 55.17%.

Institutional Trading of Navient

Institutional investors and hedge funds have recently bought and sold shares of the company. Marshall Wace LLP grew its stake in Navient by 1,043.8% in the 4th quarter. Marshall Wace LLP now owns 635,466 shares of the credit services provider’s stock worth $8,445,000 after buying an additional 579,909 shares in the last quarter. Wellington Management Group LLP grew its position in Navient by 47.4% in the fourth quarter. Wellington Management Group LLP now owns 1,315,841 shares of the credit services provider’s stock worth $17,488,000 after acquiring an additional 423,013 shares in the last quarter. Tudor Investment Corp ET AL increased its stake in Navient by 1,088.8% in the fourth quarter. Tudor Investment Corp ET AL now owns 460,646 shares of the credit services provider’s stock valued at $6,122,000 after acquiring an additional 421,898 shares during the last quarter. Voloridge Investment Management LLC purchased a new stake in Navient during the fourth quarter valued at about $4,009,000. Finally, Lighthouse Investment Partners LLC bought a new stake in Navient during the fourth quarter worth about $3,717,000. 97.14% of the stock is currently 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.