Brokerages Set Navient Co. (NASDAQ:NAVI) Target Price at $15.75

Navient Co. (NASDAQ:NAVI) has been given a consensus recommendation of “Reduce” by the eight research firms that are covering the stock, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $15.75.

NAVI has been the subject of several research analyst reports. TD Cowen reduced their price objective on Navient from $14.00 to $13.00 and set a “sell” rating for the company in a research note on Friday, November 1st. StockNews.com raised shares of Navient from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Barclays upped their price objective on shares of Navient from $10.00 to $11.00 and gave the company an “underweight” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. raised their target price on shares of Navient from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, October 7th. Finally, Bank of America started coverage on shares of Navient in a report on Monday, September 30th. They issued a “neutral” rating and a $17.00 price target on the stock.

Navient Trading Down 1.9 %

Shares of Navient stock opened at $15.28 on Friday. The firm’s 50 day simple moving average is $15.25 and its two-hundred day simple moving average is $15.19. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of 22.15 and a beta of 1.39. Navient has a 12-month low of $13.71 and a 12-month high of $19.68. The company has a current ratio of 9.49, a quick ratio of 9.49 and a debt-to-equity ratio of 16.59.

Navient (NASDAQ:NAVI) last released its earnings results on Wednesday, October 30th. The credit services provider reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $1.20. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $150.04 million. Navient had a return on equity of 8.62% and a net margin of 1.71%. During the same period in the prior year, the firm earned $0.84 EPS. Analysts predict that Navient will post 2.47 EPS for the current year.

Navient Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.64 dividend on an annualized basis and a yield of 4.19%. Navient’s payout ratio is currently 92.75%.

Insider Transactions at Navient

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 value of $150,000.00. Following the completion of the sale, the executive vice president now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 27.99% of the company’s stock.

Institutional Trading of Navient

Several large investors have recently added to or reduced their stakes in the stock. IAG Wealth Partners LLC acquired a new stake in shares of Navient during the 2nd quarter worth approximately $50,000. KBC Group NV grew its position in Navient by 47.0% in the third quarter. KBC Group NV now owns 4,355 shares of the credit services provider’s stock worth $68,000 after acquiring an additional 1,392 shares during the period. Signaturefd LLC increased its stake in Navient by 22.1% during the second quarter. Signaturefd LLC now owns 4,797 shares of the credit services provider’s stock worth $70,000 after acquiring an additional 869 shares during the last quarter. nVerses Capital LLC purchased a new stake in Navient in the third quarter valued at $87,000. Finally, Harbor Capital Advisors Inc. purchased a new stake in Navient in the third quarter valued at $95,000. 97.14% of the stock is currently 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.