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

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

Other analysts have also recently issued reports about the company. StockNews.com cut Navient from a buy rating to a hold rating in a research note on Thursday, February 1st. TD Cowen downgraded Navient from a market perform rating to an underperform rating and reduced their price target for the stock from $17.00 to $15.00 in a research report on Monday, January 8th. Stephens downgraded Navient from an equal weight rating to an underweight rating and set a $16.00 price target on the stock. in a research report on Tuesday, January 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on Navient in a research report on Wednesday, January 10th. They set a hold rating and a $19.00 price target on the stock. Finally, Citigroup upped their target price on Navient from $17.00 to $18.00 and gave the stock a neutral rating in a research note on Thursday, February 1st. Three analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Hold and an average target price of $16.30.

Navient Trading Down 0.1 %

Navient stock traded down $0.02 during trading hours on Thursday, reaching $15.74. 189,318 shares of the company’s stock traded hands, compared to its average volume of 919,943. 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 firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of 10.10 and a beta of 1.38. The firm’s 50 day moving average is $16.56 and its 200-day moving average is $17.10. Navient has a fifty-two week low of $14.10 and a fifty-two week high of $19.69.

Navient (NASDAQ:NAVI) last announced 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 company had revenue of $163.00 million during the quarter, compared to analysts’ expectations of $188.04 million. Navient had a return on equity of 12.09% and a net margin of 3.93%. On average, analysts predict that Navient will post 1.65 earnings per share for the current year.

Navient Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a dividend of $0.16 per share. 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 currently 41.03%.

Insider Buying and Selling

In other Navient news, EVP Mark L. Heleen sold 10,000 shares of the stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $17.20, for a total transaction of $172,000.00. Following the completion of the sale, the executive vice president now directly owns 385,577 shares in the company, valued at approximately $6,631,924.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 27.99% of the stock is owned by corporate insiders.

Institutional Trading of Navient

A number of large investors have recently bought and sold shares of NAVI. PNC Financial Services Group Inc. boosted its stake in Navient by 13.1% during the 3rd 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 last quarter. Pathstone Family Office LLC grew its position in 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 in the last quarter. Impact Partnership Wealth LLC grew its position in 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 in the last quarter. Swiss National Bank grew its position in 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 in the last quarter. Finally, Meritage Portfolio Management lifted its stake in 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 purchasing an additional 1,540 shares during the last quarter. 97.14% of the stock is currently 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.