Navient (NASDAQ:NAVI) Stock Price Down 2.3% – Here’s What Happened

Navient Co. (NASDAQ:NAVI) traded down 2.3% on Thursday . The company traded as low as $13.17 and last traded at $13.21. 325,217 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 807,172 shares. The stock had previously closed at $13.52.

Analysts Set New Price Targets

Several research firms have recently commented on NAVI. TD Cowen decreased their price target on shares of Navient from $14.00 to $13.00 and set a “sell” rating on the stock in a research note on Friday, November 1st. Barclays increased their price objective on Navient from $10.00 to $11.00 and gave the company an “underweight” rating in a research report on Tuesday, October 8th. StockNews.com upgraded Navient from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. decreased their price target on Navient from $15.50 to $15.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Finally, Bank of America dropped their price objective on Navient from $17.00 to $16.00 and set a “neutral” rating for the company in a report on Tuesday. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $15.50.

Navient Trading Down 1.7 %

The business has a 50 day moving average price of $14.99 and a 200 day moving average price of $15.15. The company has a market capitalization of $1.43 billion, a P/E ratio of 19.26 and a beta of 1.40. 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 posted its earnings results on Wednesday, October 30th. The credit services provider reported $1.45 earnings per share for the quarter, topping the consensus estimate of $0.25 by $1.20. Navient had a net margin of 1.71% and a return on equity of 8.62%. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $150.04 million. During the same period last year, the business posted $0.84 earnings per share. Analysts anticipate that Navient Co. will post 2.47 EPS for the current year.

Navient Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a dividend of $0.16 per share. The ex-dividend date was Friday, December 6th. This represents a $0.64 annualized dividend and a yield of 4.82%. Navient’s dividend payout ratio is presently 92.75%.

Insiders Place Their Bets

In other Navient news, EVP Stephen M. Hauber sold 10,000 shares of Navient stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $15.00, for a total value of $150,000.00. Following the transaction, the executive vice president now owns 256,883 shares of the company’s stock, valued at approximately $3,853,245. The trade was a 3.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 27.99% of the company’s stock.

Institutional Investors Weigh In On Navient

Several institutional investors have recently added to or reduced their stakes in the stock. KBC Group NV boosted its position in Navient by 47.0% during the 3rd 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 last quarter. Signaturefd LLC lifted its position in shares of Navient by 22.1% in the second quarter. Signaturefd LLC now owns 4,797 shares of the credit services provider’s stock worth $70,000 after purchasing an additional 869 shares in the last quarter. nVerses Capital LLC acquired a new position in Navient during the third quarter worth $87,000. Harbor Capital Advisors Inc. bought a new position in Navient in the third quarter valued at $95,000. Finally, Covestor Ltd increased its stake in Navient by 24.6% in the 3rd quarter. Covestor Ltd now owns 7,360 shares of the credit services provider’s stock valued at $115,000 after buying an additional 1,455 shares during the last quarter. 97.14% of the stock is owned by institutional investors.

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.