Navient (NASDAQ:NAVI) Given New $16.00 Price Target at JPMorgan Chase & Co.

Navient (NASDAQ:NAVI) had its price target lowered by JPMorgan Chase & Co. from $17.00 to $16.00 in a research note released on Thursday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the credit services provider’s stock.

Several other research analysts have also recently issued reports on the company. Citigroup raised their price objective on Navient from $17.00 to $18.00 and gave the stock a neutral rating in a research note on Thursday, February 1st. TD Cowen cut Navient from a market perform rating to an underperform rating and reduced their price objective for the stock from $17.00 to $15.00 in a research note on Monday, January 8th. StockNews.com cut Navient from a buy rating to a hold rating in a research note on Thursday, February 1st. Barclays reduced their price objective on Navient from $13.00 to $11.00 and set an underweight rating for the company in a research note on Thursday. Finally, Keefe, Bruyette & Woods dropped their target price on Navient from $19.00 to $17.00 and set a market perform rating on the stock in a report on Thursday. Three equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $16.10.

Navient Trading Down 0.3 %

Navient stock opened at $15.72 on Thursday. The stock has a 50-day moving average of $16.54 and a two-hundred day moving average of $17.08. The company has a debt-to-equity ratio of 18.38, a quick ratio of 13.63 and a current ratio of 12.52. Navient has a one year low of $14.10 and a one year high of $19.69. The stock has a market cap of $1.76 billion, a PE ratio of 10.08 and a beta of 1.38.

Navient (NASDAQ:NAVI) last announced its quarterly earnings data on Wednesday, April 24th. The credit services provider reported $0.63 earnings per share (EPS) for the quarter, topping 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. On average, research analysts anticipate that Navient will post 1.64 EPS for the current fiscal year.

Navient Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued 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 payout ratio is currently 41.03%.

Insider Buying and Selling at Navient

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 stock was sold at an average price of $17.20, for a total value of $172,000.00. Following the sale, the executive vice president now directly owns 385,577 shares of the company’s stock, valued at $6,631,924.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 27.99% of the stock is owned by corporate insiders.

Institutional Trading of Navient

Several institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. grew its holdings in Navient by 13.1% in the third 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 period. Pathstone Family Office LLC boosted its stake in shares of Navient by 9.8% in the third quarter. Pathstone Family Office LLC now owns 11,542 shares of the credit services provider’s stock worth $199,000 after acquiring an additional 1,029 shares during the last quarter. Impact Partnership Wealth LLC boosted its stake in shares of Navient by 277.8% in the third quarter. Impact Partnership Wealth LLC now owns 1,511 shares of the credit services provider’s stock worth $26,000 after acquiring an additional 1,111 shares during the last quarter. Swiss National Bank boosted its stake in shares of Navient by 0.6% in the third quarter. Swiss National Bank now owns 208,500 shares of the credit services provider’s stock worth $3,590,000 after acquiring an additional 1,300 shares during the last quarter. Finally, Meritage Portfolio Management boosted its stake in shares of Navient by 5.5% in the third quarter. Meritage Portfolio Management now owns 29,612 shares of the credit services provider’s stock worth $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.