Compass Point upgraded shares of Navient (NASDAQ:NAVI) from a neutral rating to a buy rating in a report released on Wednesday morning, Marketbeat.com reports. They currently have $16.00 target price on the credit services provider’s stock.
NAVI has been the subject of a number of other research reports. ValuEngine cut shares of Navient from a buy rating to a hold rating in a report on Monday, April 2nd. BidaskClub cut shares of Navient from a sell rating to a strong sell rating in a report on Thursday, March 1st. UBS initiated coverage on shares of Navient in a report on Monday, January 8th. They set a market perform rating for the company. Zacks Investment Research cut shares of Navient from a buy rating to a hold rating in a report on Tuesday, March 13th. Finally, JPMorgan Chase lowered shares of Navient from a neutral rating to an underweight rating in a research note on Friday, January 12th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $17.55.
Shares of NASDAQ NAVI opened at $13.44 on Wednesday. The company has a market cap of $3,597.89, a P/E ratio of 7.72, a PEG ratio of 1.19 and a beta of 2.20. The company has a quick ratio of 22.35, a current ratio of 22.35 and a debt-to-equity ratio of 30.13. Navient has a 52-week low of $11.48 and a 52-week high of $16.97.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Shareholders of record on Friday, June 1st will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date is Thursday, May 31st. Navient’s payout ratio is currently 35.75%.
In other Navient news, SVP Stephen M. Hauber sold 17,423 shares of Navient stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $14.40, for a total value of $250,891.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.68% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Envestnet Asset Management Inc. lifted its stake in Navient by 207.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 247,653 shares of the credit services provider’s stock valued at $3,299,000 after buying an additional 167,203 shares in the last quarter. Sawtooth Solutions LLC bought a new stake in shares of Navient in the fourth quarter worth $1,047,000. Canyon Capital Advisors LLC bought a new stake in shares of Navient in the fourth quarter worth $203,134,000. MetLife Investment Advisors LLC bought a new stake in shares of Navient in the fourth quarter worth $1,084,000. Finally, Gotham Asset Management LLC bought a new stake in shares of Navient in the fourth quarter worth $154,000. 97.87% of the stock is currently owned by hedge funds and other institutional investors.
Navient Company Profile
Navient Corporation provides asset management and business processing services to education, health care, and government clients at the federal, state, and local levels in the United States. The company operates in three segments: Federal Family Education Loan Program (FFELP) Loans, Private Education Loans, and Business Services.
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