Barclays Trims Navient (NASDAQ:NAVI) Target Price to $11.00

Navient (NASDAQ:NAVI) had its price objective trimmed by Barclays from $13.00 to $11.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an underweight rating on the credit services provider’s stock.

Several other research analysts have also issued reports on the company. JPMorgan Chase & Co. upgraded 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 research note on Wednesday, April 3rd. Stephens lowered Navient from an equal weight rating to an underweight rating and set a $16.00 price objective for the company. in a research note on Tuesday, January 2nd. Citigroup raised their target price on Navient from $17.00 to $18.00 and gave the company a neutral rating in a research note on Thursday, February 1st. Keefe, Bruyette & Woods lowered their target price on Navient from $19.00 to $17.00 and set a market perform rating for the company in a research note on Thursday. Finally, StockNews.com lowered Navient from a buy rating to a hold rating in a research note on Thursday, February 1st. Three equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat.com, Navient presently has a consensus rating of Hold and an average price target of $16.10.

Navient Stock Performance

Navient stock opened at $15.72 on Thursday. The company has a debt-to-equity ratio of 18.38, a current ratio of 12.52 and a quick ratio of 13.63. The stock has a fifty day moving average price of $16.54 and a two-hundred day moving average price of $17.08. Navient has a 52-week low of $14.10 and a 52-week high of $19.69. The firm has a market capitalization of $1.76 billion, a P/E ratio of 10.08 and a beta of 1.38.

Navient (NASDAQ:NAVI) last released 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 analyst estimates of $188.04 million. As a group, analysts anticipate that Navient will post 1.64 EPS for the current fiscal year.

Navient Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors 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 dividend payout ratio is 41.03%.

Insider Activity at Navient

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

Hedge Funds Weigh In On Navient

Several hedge funds have recently added to or reduced their stakes in NAVI. Impact Partnership Wealth LLC boosted its holdings in Navient by 277.8% during the third quarter. Impact Partnership Wealth LLC now owns 1,511 shares of the credit services provider’s stock worth $26,000 after buying an additional 1,111 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in Navient during the first quarter worth about $36,000. CWM LLC boosted its holdings in Navient by 314.6% during the third quarter. CWM LLC now owns 2,193 shares of the credit services provider’s stock worth $38,000 after buying an additional 1,664 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Navient by 13.1% during the third quarter. PNC Financial Services Group Inc. now owns 5,236 shares of the credit services provider’s stock worth $90,000 after buying an additional 607 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its holdings in Navient by 367.7% during the third quarter. Exchange Traded Concepts LLC now owns 6,795 shares of the credit services provider’s stock worth $117,000 after buying an additional 5,342 shares during the last quarter. Institutional investors own 97.14% of the company’s stock.

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.