Navient (NASDAQ:NAVI) Shares Gap Down to $16.60

Navient Co. (NASDAQ:NAVI) shares gapped down prior to trading on Wednesday . The stock had previously closed at $16.60, but opened at $15.34. Navient shares last traded at $15.80, with a volume of 358,991 shares.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on NAVI shares. TD Cowen downgraded Navient from a “market perform” rating to an “underperform” rating and lowered their price target for the company from $17.00 to $15.00 in a report on Monday, January 8th. Stephens lowered shares of Navient from an “equal weight” rating to an “underweight” rating and set a $16.00 target price for the company. in a research note on Tuesday, January 2nd. Keefe, Bruyette & Woods reduced their price target on shares of Navient from $19.00 to $17.00 and set a “market perform” rating on the stock in a research report on Thursday. Citigroup lifted their price target on shares of Navient from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, February 1st. Finally, StockNews.com lowered shares of Navient from a “buy” rating to a “hold” rating in a research note on Thursday, February 1st. Three analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $16.30.

Navient Price Performance

The company has a debt-to-equity ratio of 18.38, a quick ratio of 13.63 and a current ratio of 12.52. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of 10.10 and a beta of 1.38. The business’s 50 day simple moving average is $16.56 and its 200-day simple moving average is $17.10.

Navient (NASDAQ:NAVI) last issued its quarterly earnings data on Wednesday, April 24th. The credit services provider reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.05. Navient had a return on equity of 12.09% and a net margin of 3.93%. The business had revenue of $163.00 million during the quarter, compared to the consensus estimate of $188.04 million. Research analysts anticipate that Navient Co. will post 1.65 earnings per share for the current year.

Navient Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.16 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.64 annualized dividend and a dividend yield of 4.06%. Navient’s payout ratio is 41.03%.

Insider Activity

In related news, EVP Mark L. Heleen sold 10,000 shares of the company’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $17.20, for a total value of $172,000.00. Following the completion of the sale, the executive vice president now owns 385,577 shares of the company’s stock, valued at $6,631,924.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 27.99% of the company’s stock.

Institutional Investors Weigh In On Navient

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NAVI. Denali Advisors LLC acquired a new position in shares of Navient during the 4th quarter valued at $2,441,000. Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in Navient in the fourth quarter worth about $13,546,000. American Century Companies Inc. lifted its holdings in Navient by 7.4% in the 3rd quarter. American Century Companies Inc. now owns 1,138,526 shares of the credit services provider’s stock valued at $19,605,000 after acquiring an additional 78,186 shares during the last quarter. Hsbc Holdings PLC boosted its position in shares of Navient by 21.9% during the 3rd quarter. Hsbc Holdings PLC now owns 196,938 shares of the credit services provider’s stock valued at $3,395,000 after purchasing an additional 35,386 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its stake in shares of Navient by 207.8% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 231,186 shares of the credit services provider’s stock worth $4,320,000 after purchasing an additional 156,086 shares during the last quarter. Institutional investors own 97.14% of the company’s stock.

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.