Navient Co. (NASDAQ:NAVI – Get Free Report) reached a new 52-week low on Wednesday after Barclays lowered their price target on the stock from $11.00 to $10.00. Barclays currently has an underweight rating on the stock. Navient traded as low as $13.96 and last traded at $14.00, with a volume of 169291 shares trading hands. The stock had previously closed at $14.10.
Other equities analysts have also recently issued reports about the company. TD Cowen decreased their target price on Navient from $14.00 to $13.00 and set a “sell” rating on the stock in a report on Friday, April 26th. JPMorgan Chase & Co. decreased their target price on Navient from $16.00 to $15.00 and set a “neutral” rating on the stock in a report on Monday. Finally, Keefe, Bruyette & Woods decreased their target price on Navient from $17.00 to $15.00 and set a “market perform” rating on the stock in a report on Monday. Three investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $15.70.
Insiders Place Their Bets
In other Navient news, EVP Mark L. Heleen sold 10,000 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $16.00, for a total value of $160,000.00. Following the completion of the sale, the executive vice president now owns 393,611 shares in the company, valued at approximately $6,297,776. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 27.99% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the company. Donald Smith & CO. Inc. grew its position in shares of Navient by 31.5% during the fourth quarter. Donald Smith & CO. Inc. now owns 3,586,501 shares of the credit services provider’s stock valued at $66,781,000 after purchasing an additional 858,890 shares in the last quarter. American Century Companies Inc. grew its position in Navient by 7.4% in the third quarter. American Century Companies Inc. now owns 1,138,526 shares of the credit services provider’s stock worth $19,605,000 after acquiring an additional 78,186 shares in the last quarter. Bridgeway Capital Management LLC grew its position in Navient by 8.8% in the fourth quarter. Bridgeway Capital Management LLC now owns 811,826 shares of the credit services provider’s stock worth $15,116,000 after acquiring an additional 65,576 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in Navient in the fourth quarter worth about $13,546,000. Finally, Empowered Funds LLC grew its position in Navient by 7.7% in the first quarter. Empowered Funds LLC now owns 391,401 shares of the credit services provider’s stock worth $6,810,000 after acquiring an additional 27,997 shares in the last quarter. Hedge funds and other institutional investors own 97.14% of the company’s stock.
Navient Trading Down 0.1 %
The company has a market cap of $1.57 billion, a PE ratio of 9.03 and a beta of 1.40. The company has a debt-to-equity ratio of 18.38, a current ratio of 12.52 and a quick ratio of 12.52. The company has a 50-day moving average of $14.81 and a 200 day moving average of $16.15.
Navient (NASDAQ:NAVI – Get Free Report) last released its quarterly earnings results on Wednesday, April 24th. The credit services provider reported $0.63 EPS for the quarter, topping the consensus estimate of $0.58 by $0.05. The company had revenue of $163.00 million during the quarter, compared to analyst estimates of $188.04 million. Navient had a return on equity of 12.09% and a net margin of 3.93%. Analysts predict that Navient Co. will post 1.65 earnings per share for the current year.
Navient Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 4.55%. The ex-dividend date of this dividend was Friday, June 7th. Navient’s payout ratio is currently 41.03%.
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.