Navient (NASDAQ:NAVI) PT Lowered to $13.00 at TD Cowen

Navient (NASDAQ:NAVI) had its price objective trimmed by TD Cowen from $14.00 to $13.00 in a research report sent to investors on Friday, Benzinga reports. The firm currently has a sell rating on the credit services provider’s stock.

Several other analysts have also issued reports on the company. JPMorgan Chase & Co. dropped their price objective on Navient from $17.00 to $16.00 and set a neutral rating on the stock in a research note on Thursday. Barclays dropped their price objective on Navient from $13.00 to $11.00 and set an underweight rating on the stock in a research note on Thursday. StockNews.com lowered Navient from a buy rating to a hold rating in a research note on Thursday, February 1st. Stephens lowered Navient from an equal weight rating to an underweight rating and set a $16.00 price objective on the stock. in a research note on Tuesday, January 2nd. Finally, Citigroup upped their price objective on Navient from $17.00 to $18.00 and gave the company a neutral rating in a research note on Thursday, February 1st. Three investment analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $16.10.

Navient Stock Performance

NAVI opened at $15.72 on Friday. 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 PE ratio of 10.08 and a beta of 1.38. The company has a debt-to-equity ratio of 18.38, a quick ratio of 12.52 and a current ratio of 12.52. The business’s 50-day simple moving average is $16.54 and its 200 day simple moving average is $17.08.

Navient (NASDAQ:NAVI) last released its earnings results 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 business had revenue of $163.00 million for the quarter, compared to analyst estimates of $188.04 million. As a group, sell-side analysts expect that Navient will post 1.64 earnings per share for the current fiscal year.

Navient Announces Dividend

The business also recently declared 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 dividend on an annualized basis 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 related news, EVP Mark L. Heleen sold 10,000 shares of the stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $17.20, for a total transaction of $172,000.00. Following the sale, the executive vice president now owns 385,577 shares of the company’s stock, valued at $6,631,924.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 27.99% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Navient

A number of large investors have recently added to or reduced their stakes in NAVI. Donald Smith & CO. Inc. boosted its holdings in shares of Navient by 31.5% in the 4th quarter. Donald Smith & CO. Inc. now owns 3,586,501 shares of the credit services provider’s stock valued at $66,781,000 after purchasing an additional 858,890 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in shares of Navient in the 4th quarter valued at $13,546,000. DekaBank Deutsche Girozentrale lifted its stake in shares of Navient by 207.8% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 231,186 shares of the credit services provider’s stock valued at $4,320,000 after acquiring an additional 156,086 shares during the last quarter. Denali Advisors LLC lifted its stake in shares of Navient by 115.9% in the 1st quarter. Denali Advisors LLC now owns 283,000 shares of the credit services provider’s stock valued at $4,924,000 after acquiring an additional 151,900 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Navient by 24.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 541,674 shares of the credit services provider’s stock valued at $9,328,000 after acquiring an additional 107,543 shares during the last quarter. Institutional investors and hedge funds 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.