Navient (NASDAQ:NAVI) Given New $12.00 Price Target at Jefferies Financial Group

Navient (NASDAQ:NAVI) had its price target cut by Jefferies Financial Group from $14.00 to $12.00 in a report published on Monday,Benzinga reports. They currently have a hold rating on the credit services provider’s stock.

A number of other brokerages have also weighed in on NAVI. StockNews.com lowered Navient from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. TD Cowen raised Navient from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 2nd. Seaport Res Ptn upgraded shares of Navient from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 21st. Bank of America reduced 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, Keefe, Bruyette & Woods reduced their price objective on shares of Navient from $16.00 to $14.00 and set a “market perform” rating on the stock in a research note on Monday, March 31st. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $12.83.

Navient Stock Performance

NASDAQ:NAVI opened at $11.00 on Monday. The company has a quick ratio of 9.49, a current ratio of 9.48 and a debt-to-equity ratio of 16.35. The firm has a market capitalization of $1.13 billion, a PE ratio of 9.48 and a beta of 1.24. Navient has a twelve month low of $10.53 and a twelve month high of $16.97. The stock’s 50-day simple moving average is $12.87 and its 200 day simple moving average is $13.94.

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

Navient Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were given a dividend of $0.16 per share. The ex-dividend date was Friday, March 7th. This represents a $0.64 dividend on an annualized basis and a yield of 5.82%. Navient’s dividend payout ratio (DPR) is currently 55.17%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Jupiter Asset Management Ltd. grew its position in shares of Navient by 43.1% during the 4th quarter. Jupiter Asset Management Ltd. now owns 395,948 shares of the credit services provider’s stock worth $5,262,000 after buying an additional 119,317 shares during the period. Aigen Investment Management LP bought a new stake in shares of Navient during the fourth quarter worth about $258,000. Wellington Management Group LLP lifted its holdings in shares of 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 valued at $17,488,000 after purchasing an additional 423,013 shares in the last quarter. EMC Capital Management boosted its holdings in Navient by 2,193.7% during the 4th quarter. EMC Capital Management now owns 20,276 shares of the credit services provider’s stock worth $269,000 after acquiring an additional 19,392 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in Navient by 0.9% in the 4th quarter. Principal Financial Group Inc. now owns 374,879 shares of the credit services provider’s stock valued at $4,982,000 after buying an additional 3,445 shares during the last quarter. 97.14% of the stock is owned by 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.