Navient (NASDAQ:NAVI) Price Target Cut to $13.00 by Analysts at TD Cowen

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

A number of other brokerages also recently weighed in on NAVI. Citigroup upped their price objective on shares of Navient from $17.00 to $18.00 and gave the stock a neutral rating in a research report on Thursday, February 1st. Keefe, Bruyette & Woods lowered their price target on Navient from $19.00 to $17.00 and set a market perform rating on the stock in a research report on Thursday, April 25th. Barclays cut their price objective on Navient from $13.00 to $11.00 and set an underweight rating for the company in a research report on Thursday, April 25th. StockNews.com lowered Navient from a buy rating to a hold rating in a research report on Thursday, February 1st. Finally, JPMorgan Chase & Co. dropped their price target on shares of Navient from $17.00 to $16.00 and set a neutral rating on the stock in a research note on Thursday, April 25th. Three investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. Based on data from MarketBeat, Navient currently has a consensus rating of Hold and an average target price of $16.10.

Navient Stock Down 1.1 %

Shares of NAVI stock opened at $15.55 on Friday. Navient has a twelve month low of $14.10 and a twelve month high of $19.69. The stock has a market cap of $1.74 billion, a P/E ratio of 9.97 and a beta of 1.38. The stock has a 50 day moving average of $16.53 and a 200 day moving average of $17.06. The company has a current ratio of 12.52, a quick ratio of 12.52 and a debt-to-equity ratio of 18.38.

Navient (NASDAQ:NAVI) last posted its earnings results on Wednesday, April 24th. The credit services provider reported $0.63 earnings per share for the quarter, beating 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 firm had revenue of $163.00 million during the quarter, compared to analyst estimates of $188.04 million. As a group, sell-side analysts expect that Navient will post 1.64 EPS for the current year.

Navient Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 4.12%. The ex-dividend date was Thursday, February 29th. Navient’s dividend payout ratio is currently 41.03%.

Insider Buying and Selling

In other Navient news, EVP Mark L. Heleen sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $17.20, for a total value of $172,000.00. Following the transaction, the executive vice president now directly owns 385,577 shares of the company’s stock, valued at approximately $6,631,924.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 27.99% of the stock is currently owned by company insiders.

Institutional Trading of Navient

A number of hedge funds and other institutional investors have recently modified their holdings of NAVI. CWM LLC grew its holdings in shares of Navient by 314.6% in the third quarter. CWM LLC now owns 2,193 shares of the credit services provider’s stock valued at $38,000 after purchasing an additional 1,664 shares during the period. SG Americas Securities LLC grew its stake in shares of Navient by 165.1% in the 3rd quarter. SG Americas Securities LLC now owns 70,393 shares of the credit services provider’s stock valued at $1,212,000 after buying an additional 43,843 shares during the period. Impact Partnership Wealth LLC increased its holdings in shares of 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 buying an additional 1,111 shares during the last quarter. Exchange Traded Concepts LLC raised its position in shares of Navient by 367.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 6,795 shares of the credit services provider’s stock valued at $117,000 after buying an additional 5,342 shares during the period. Finally, Meritage Portfolio Management lifted its holdings in Navient by 5.5% in the third quarter. Meritage Portfolio Management now owns 29,612 shares of the credit services provider’s stock valued at $510,000 after acquiring an additional 1,540 shares during the last quarter. 97.14% of the stock is owned by institutional investors and hedge funds.

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.