BidaskClub upgraded shares of Navient (NASDAQ:NAVI) from a strong sell rating to a sell rating in a report published on Friday.
Several other equities research analysts have also commented on the stock. JPMorgan Chase & Co. lowered shares of Navient from a neutral rating to an underweight rating in a research note on Friday, January 12th. Barclays reiterated an overweight rating and issued a $17.00 price objective on shares of Navient in a research note on Tuesday, November 14th. Oppenheimer started coverage on shares of Navient in a research note on Monday, January 8th. They issued a hold rating for the company. Zacks Investment Research upgraded shares of Navient from a sell rating to a buy rating and set a $16.00 price objective for the company in a research note on Friday, January 12th. Finally, Jefferies Group reiterated a hold rating and issued a $14.00 price objective on shares of Navient in a research note on Thursday, January 11th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $17.45.
Navient (NASDAQ NAVI) opened at $13.46 on Friday. Navient has a 1 year low of $11.48 and a 1 year high of $16.97. The firm has a market cap of $3,650.56, a PE ratio of 13.33, a P/E/G ratio of 1.21 and a beta of 2.29. The company has a debt-to-equity ratio of 30.13, a current ratio of 22.35 and a quick ratio of 22.35.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Friday, March 2nd will be paid a dividend of $0.16 per share. The ex-dividend date is Thursday, March 1st. This represents a $0.64 annualized dividend and a dividend yield of 4.75%. Navient’s payout ratio is currently 63.37%.
In other news, SVP Stephen M. Hauber sold 17,423 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $14.40, for a total transaction of $250,891.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.68% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Advisor Group Inc. increased its stake in shares of Navient by 9.7% during the 4th quarter. Advisor Group Inc. now owns 42,905 shares of the credit services provider’s stock worth $571,000 after purchasing an additional 3,776 shares during the last quarter. Schaper Benz & Wise Investment Counsel Inc. WI increased its stake in shares of Navient by 31.3% during the 4th quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 17,989 shares of the credit services provider’s stock worth $240,000 after purchasing an additional 4,289 shares during the last quarter. Allianz Asset Management GmbH increased its stake in shares of Navient by 0.7% during the 3rd quarter. Allianz Asset Management GmbH now owns 592,542 shares of the credit services provider’s stock worth $8,900,000 after purchasing an additional 4,290 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of Navient by 6.8% during the 3rd quarter. Nordea Investment Management AB now owns 70,598 shares of the credit services provider’s stock worth $1,060,000 after purchasing an additional 4,476 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its stake in shares of Navient by 84.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 10,168 shares of the credit services provider’s stock worth $153,000 after purchasing an additional 4,642 shares during the last quarter. Institutional investors own 97.90% of the company’s stock.
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Navient Corporation provides asset management and business processing services to education, healthcare and government clients at the federal, state and local levels. The Company holds the portfolio of education loans insured or federally guaranteed under the Federal Family Education Loan Program (FFELP).
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