Navient (NASDAQ:NAVI) Given New $13.00 Price Target at TD Cowen

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

A number of other research firms have also commented on NAVI. StockNews.com lowered shares of Navient from a buy rating to a hold rating in a research report on Thursday, February 1st. Citigroup upped their target price 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. Stephens lowered shares of Navient from an equal weight rating to an underweight rating and set a $16.00 target price for the company. in a research report on Tuesday, January 2nd. Barclays cut their target price on shares of Navient from $13.00 to $11.00 and set an underweight rating for the company in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Navient in a research report on Wednesday, January 10th. They issued a hold rating and a $19.00 target price for the company. Three 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, Navient presently has a consensus rating of Hold and an average target price of $16.10.

Navient Stock Down 0.3 %

NAVI opened at $15.72 on Friday. The company has a fifty day moving average price of $16.54 and a 200-day moving average price of $17.08. The firm has a market capitalization of $1.76 billion, a P/E ratio of 10.08 and a beta of 1.38. The company has a debt-to-equity ratio of 18.38, a current ratio of 12.52 and a quick ratio of 12.52. Navient has a one year low of $14.10 and a one year high of $19.69.

Navient (NASDAQ:NAVI) last released its quarterly earnings results on Wednesday, April 24th. The credit services provider reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. The firm had revenue of $163.00 million during the quarter, compared to analyst estimates of $188.04 million. Navient had a net margin of 3.93% and a return on equity of 12.09%. Equities research analysts expect that Navient will post 1.64 earnings per share for the current fiscal year.

Navient Announces Dividend

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

Insiders Place Their Bets

In other Navient news, EVP Mark L. Heleen sold 10,000 shares of the business’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 385,577 shares of the company’s stock, valued at $6,631,924.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 27.99% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Navient

Several hedge funds and other institutional investors have recently modified their holdings of the company. New Mexico Educational Retirement Board bought a new position in shares of Navient during the first quarter valued at about $649,000. Denali Advisors LLC raised its stake in Navient by 115.9% in the first quarter. Denali Advisors LLC now owns 283,000 shares of the credit services provider’s stock worth $4,924,000 after buying an additional 151,900 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in Navient in the first quarter worth about $36,000. Nomura Holdings Inc. bought a new position in Navient in the fourth quarter worth about $783,000. Finally, Wellington Management Group LLP raised its stake in Navient by 15.5% in the fourth quarter. Wellington Management Group LLP now owns 343,761 shares of the credit services provider’s stock worth $6,401,000 after buying an additional 46,230 shares in the last quarter. 97.14% of the stock is 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.