Navient Co. (NASDAQ:NAVI) Receives Average Recommendation of “Reduce” from Brokerages

Shares of Navient Co. (NASDAQ:NAVI) have earned an average rating of “Reduce” from the six ratings firms that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $14.58.

A number of research analysts have recently issued reports on NAVI shares. Bank of America 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 Tuesday, December 24th. StockNews.com raised shares of Navient from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. TD Cowen lowered their price objective on shares of Navient from $14.00 to $13.00 and set a “sell” rating for the company in a research note on Friday, November 1st. JPMorgan Chase & Co. cut their target price on shares of Navient from $15.00 to $13.50 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Finally, Barclays lifted their price target on shares of Navient from $10.00 to $11.00 and gave the company an “underweight” rating in a research note on Tuesday, October 8th.

Navient Price Performance

Shares of NAVI opened at $13.92 on Friday. The business has a 50-day moving average of $14.34 and a 200-day moving average of $15.01. The company has a debt-to-equity ratio of 16.59, a current ratio of 9.49 and a quick ratio of 9.49. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of 20.17 and a beta of 1.43. Navient has a 1 year low of $12.73 and a 1 year high of $18.36.

Navient (NASDAQ:NAVI) last issued its quarterly earnings results on Wednesday, October 30th. The credit services provider reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $1.20. Navient had a net margin of 1.71% and a return on equity of 8.62%. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $150.04 million. During the same quarter in the previous year, the company earned $0.84 EPS. As a group, equities research analysts anticipate that Navient will post 2.45 earnings per share for the current year.

Navient Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were issued a dividend of $0.16 per share. The ex-dividend date was Friday, December 6th. This represents a $0.64 annualized dividend and a yield of 4.60%. Navient’s dividend payout ratio (DPR) is currently 92.75%.

Insiders Place Their Bets

In related news, EVP Stephen M. Hauber sold 10,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $15.00, for a total transaction of $150,000.00. Following the completion of the sale, the executive vice president now directly owns 256,883 shares of the company’s stock, valued at approximately $3,853,245. This trade represents a 3.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 27.99% of the company’s stock.

Institutional Investors Weigh In On Navient

Large investors have recently made changes to their positions in the business. Intech Investment Management LLC purchased a new stake in Navient during the third quarter worth about $1,398,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Navient in the 3rd quarter worth approximately $511,000. Marshall Wace LLP purchased a new position in Navient in the second quarter valued at approximately $2,327,000. Barclays PLC grew its holdings in Navient by 59.0% during the third quarter. Barclays PLC now owns 284,130 shares of the credit services provider’s stock valued at $4,429,000 after purchasing an additional 105,454 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Navient in the third quarter worth $714,000. 97.14% of the stock is owned by hedge funds and other 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.