Barclays Cuts Navient (NASDAQ:NAVI) Price Target to $10.00

Navient (NASDAQ:NAVI) had its price target reduced by Barclays from $11.00 to $10.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have an underweight rating on the credit services provider’s stock.

Several other equities analysts also recently commented on NAVI. JPMorgan Chase & Co. lowered their price objective on Navient from $16.00 to $15.00 and set a neutral rating on the stock in a research report on Monday. TD Cowen lowered their price objective on Navient from $14.00 to $13.00 and set a sell rating on the stock in a research report on Friday, April 26th. Finally, Keefe, Bruyette & Woods reduced their target price on Navient from $17.00 to $15.00 and set a market perform rating on the stock in a report on Monday. Three research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $15.70.

Navient Price Performance

NASDAQ NAVI opened at $14.83 on Tuesday. The business’s fifty day moving average is $14.80 and its 200 day moving average is $16.14. Navient has a fifty-two week low of $13.95 and a fifty-two week high of $19.69. The company has a market capitalization of $1.66 billion, a PE ratio of 9.51 and a beta of 1.40. The company has a debt-to-equity ratio of 18.38, a quick ratio of 12.52 and a current ratio of 12.52.

Navient (NASDAQ:NAVI) last announced its quarterly earnings data on Wednesday, April 24th. The credit services provider reported $0.63 EPS for the quarter, beating 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 the consensus estimate of $188.04 million. Sell-side analysts predict that Navient will post 1.64 earnings per share for the current year.

Navient Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.64 annualized dividend and a yield of 4.32%. Navient’s payout ratio is currently 41.03%.

Insiders Place Their Bets

In other Navient news, EVP Mark L. Heleen sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $16.00, for a total transaction of $160,000.00. Following the sale, the executive vice president now directly owns 393,611 shares of the company’s stock, valued at $6,297,776. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 27.99% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Navient

Several large investors have recently added to or reduced their stakes in the stock. Denali Advisors LLC bought a new position in shares of Navient during the fourth quarter valued at approximately $2,441,000. Bridgeway Capital Management LLC grew its stake in shares of Navient by 8.8% during the fourth quarter. Bridgeway Capital Management LLC now owns 811,826 shares of the credit services provider’s stock valued at $15,116,000 after buying an additional 65,576 shares during the last quarter. Quest Partners LLC bought a new position in shares of Navient during the fourth quarter valued at approximately $394,000. Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in shares of Navient during the fourth quarter valued at approximately $13,546,000. Finally, Caxton Associates LP grew its stake in shares of Navient by 126.6% during the fourth quarter. Caxton Associates LP now owns 103,807 shares of the credit services provider’s stock valued at $1,933,000 after buying an additional 58,002 shares during the last quarter. 97.14% of the stock is owned by 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.