Navient (NASDAQ:NAVI) Given New $13.00 Price Target at TD Cowen

Navient (NASDAQ:NAVI) had its price objective cut by TD Cowen from $14.00 to $13.00 in a report published on Friday morning, Benzinga reports. They currently have a sell rating on the credit services provider’s stock.

Several other brokerages also recently weighed in on NAVI. StockNews.com downgraded shares of Navient from a buy rating to a hold rating in a research note on Thursday, February 1st. Keefe, Bruyette & Woods cut their target price on shares of Navient from $19.00 to $17.00 and set a market perform rating on the stock in a research note on Thursday. Citigroup upped their target price on shares of Navient from $17.00 to $18.00 and gave the stock a neutral rating in a research note on Thursday, February 1st. Barclays cut their target price on shares of Navient from $13.00 to $11.00 and set an underweight rating on the stock in a research note on Thursday. Finally, Stephens downgraded shares of Navient from an equal weight rating to an underweight rating and set a $16.00 target price on the stock. in a research note on Tuesday, January 2nd. Three equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat.com, Navient currently has an average rating of Hold and a consensus target price of $16.10.

Navient Price Performance

Navient stock opened at $15.72 on Friday. The company’s 50 day simple moving average is $16.54 and its 200-day simple moving average is $17.09. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of 10.08 and a beta of 1.38. Navient has a 1 year low of $14.10 and a 1 year high of $19.69. The company has a debt-to-equity ratio of 18.38, a quick ratio of 13.63 and a current ratio of 12.52.

Navient (NASDAQ:NAVI) last announced its earnings results on Wednesday, April 24th. The credit services provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.05. Navient had a net margin of 3.93% and a return on equity of 12.09%. The firm had revenue of $163.00 million for the quarter, compared to the consensus estimate of $188.04 million. As a group, equities research analysts expect that Navient will post 1.74 earnings per share for the current year.

Navient Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 4.07%. The ex-dividend date was Thursday, February 29th. Navient’s payout ratio is 41.03%.

Insider Activity

In other news, EVP Mark L. Heleen sold 10,000 shares of the company’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $17.20, for a total value of $172,000.00. Following the completion of the transaction, the executive vice president now 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 available at this link. Company insiders own 27.99% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Donald Smith & CO. Inc. boosted its stake in Navient by 31.5% during the 4th quarter. Donald Smith & CO. Inc. now owns 3,586,501 shares of the credit services provider’s stock worth $66,781,000 after purchasing an additional 858,890 shares during the period. American Century Companies Inc. boosted its stake in Navient by 7.4% during the 3rd quarter. American Century Companies Inc. now owns 1,138,526 shares of the credit services provider’s stock worth $19,605,000 after purchasing an additional 78,186 shares during the period. Bridgeway Capital Management LLC boosted its stake in Navient by 8.8% during the 4th quarter. Bridgeway Capital Management LLC now owns 811,826 shares of the credit services provider’s stock worth $15,116,000 after purchasing an additional 65,576 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in Navient during the 4th quarter worth $13,546,000. Finally, Invesco Ltd. boosted its stake in Navient by 14.5% during the 3rd quarter. Invesco Ltd. now owns 704,608 shares of the credit services provider’s stock worth $12,133,000 after purchasing an additional 89,220 shares during the period. 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.