Navient (NASDAQ:NAVI) PT Lowered to $11.00 at Barclays

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

Several other analysts have also commented on the company. Deutsche Bank Aktiengesellschaft began coverage on Navient in a report on Wednesday, January 10th. They issued a hold rating and a $19.00 price objective for the company. Stephens lowered shares of Navient from an equal weight rating to an underweight rating and set a $16.00 price target for the company. in a research report on Tuesday, January 2nd. JPMorgan Chase & Co. raised shares of Navient from an underweight rating to a neutral rating and dropped their price objective for the stock from $18.00 to $17.00 in a report on Wednesday, April 3rd. Keefe, Bruyette & Woods reduced their target price on shares of Navient from $19.00 to $17.00 and set a market perform rating for the company in a report on Thursday. Finally, TD Cowen downgraded shares of Navient from a market perform rating to an underperform rating and decreased their price target for the stock from $17.00 to $15.00 in a research report on Monday, January 8th. Three research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $16.10.

Navient Price Performance

NAVI opened at $15.72 on Thursday. The company’s 50-day simple moving average is $16.54 and its two-hundred day simple moving average is $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. The stock has a market capitalization of $1.76 billion, a P/E ratio of 10.08 and a beta of 1.38. Navient has a 52-week low of $14.10 and a 52-week high of $19.69.

Navient (NASDAQ:NAVI) last issued its quarterly earnings data on Wednesday, April 24th. The credit services provider reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. Navient had a net margin of 3.93% and a return on equity of 12.09%. The company had revenue of $163.00 million for the quarter, compared to the consensus estimate of $188.04 million. As a group, analysts predict that Navient will post 1.64 EPS for the current year.

Navient Dividend Announcement

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

Insider Activity

In related news, EVP Mark L. Heleen sold 10,000 shares of the company’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 transaction, the executive vice president now owns 385,577 shares of the company’s stock, valued at approximately $6,631,924.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 27.99% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Denali Advisors LLC purchased a new position in Navient in the 4th quarter worth approximately $2,441,000. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in Navient in the 4th quarter worth approximately $13,546,000. American Century Companies Inc. lifted its holdings in Navient by 7.4% in the 3rd quarter. American Century Companies Inc. now owns 1,138,526 shares of the credit services provider’s stock worth $19,605,000 after purchasing an additional 78,186 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in Navient by 207.8% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 231,186 shares of the credit services provider’s stock worth $4,320,000 after purchasing an additional 156,086 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in Navient by 21.9% in the 3rd quarter. Hsbc Holdings PLC now owns 196,938 shares of the credit services provider’s stock worth $3,395,000 after purchasing an additional 35,386 shares in the last quarter. 97.14% of the stock is owned by hedge funds and other 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.