Barclays Boosts Navient (NASDAQ:NAVI) Price Target to $11.00

Navient (NASDAQ:NAVI) had its price objective increased by Barclays from $10.00 to $11.00 in a report released on Tuesday, Benzinga reports. They currently have an underweight rating on the credit services provider’s stock.

NAVI has been the subject of several other research reports. Bank of America initiated coverage on Navient in a report on Monday, September 30th. They set a neutral rating and a $17.00 price target for the company. Keefe, Bruyette & Woods boosted their price target on Navient from $15.00 to $16.00 and gave the company a market perform rating in a report on Thursday, July 25th. Finally, JPMorgan Chase & Co. upped their price objective on Navient from $15.00 to $16.00 and gave the stock a neutral rating in a research note on Monday. Three investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of Hold and an average price target of $15.78.

Navient Stock Down 0.6 %

NAVI stock opened at $15.44 on Tuesday. Navient has a 1-year low of $13.95 and a 1-year high of $19.68. The business has a fifty day moving average price of $15.51 and a 200-day moving average price of $15.48. The company has a debt-to-equity ratio of 17.30, a current ratio of 9.99 and a quick ratio of 9.99. The stock has a market capitalization of $1.69 billion, a P/E ratio of 11.35 and a beta of 1.39.

Navient (NASDAQ:NAVI) last posted its quarterly earnings data on Wednesday, July 24th. The credit services provider reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.14). The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $157.27 million. Navient had a net margin of 3.41% and a return on equity of 11.06%. During the same quarter last year, the company posted $0.70 EPS. Equities analysts forecast that Navient will post 1.36 earnings per share for the current fiscal year.

Navient Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were given a $0.16 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.64 dividend on an annualized basis and a yield of 4.15%. Navient’s dividend payout ratio is currently 47.06%.

Institutional Investors Weigh In On Navient

Hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC purchased a new stake in Navient in the 1st quarter worth approximately $36,000. IAG Wealth Partners LLC purchased a new stake in Navient in the 2nd quarter worth approximately $50,000. Signaturefd LLC boosted its position in Navient by 22.1% in the 2nd 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. Covestor Ltd boosted its position in Navient by 23.1% in the 1st quarter. Covestor Ltd now owns 6,245 shares of the credit services provider’s stock worth $109,000 after purchasing an additional 1,173 shares in the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in Navient in the 2nd quarter worth approximately $121,000. Hedge funds and other 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.