JPMorgan Chase & Co. Cuts Navient (NASDAQ:NAVI) Price Target to $15.00

Navient (NASDAQ:NAVI) had its price objective decreased by JPMorgan Chase & Co. from $15.50 to $15.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the credit services provider’s stock.

A number of other research firms also recently weighed in on NAVI. Bank of America assumed coverage on Navient in a report on Monday, September 30th. They set a “neutral” rating and a $17.00 target price for the company. TD Cowen dropped their price objective on shares of Navient from $14.00 to $13.00 and set a “sell” rating for the company in a research note on Friday, November 1st. Barclays increased their target price on shares of Navient from $10.00 to $11.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 8th. Finally, StockNews.com upgraded shares of Navient from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Navient presently has an average rating of “Hold” and an average price target of $15.63.

Navient Stock Performance

NAVI traded down $0.19 on Monday, reaching $15.00. The company had a trading volume of 200,098 shares, compared to its average volume of 800,192. The stock has a market cap of $1.61 billion, a P/E ratio of 21.74 and a beta of 1.40. The company has a debt-to-equity ratio of 16.59, a quick ratio of 9.49 and a current ratio of 9.49. Navient has a fifty-two week low of $13.71 and a fifty-two week high of $19.68. The company’s fifty day moving average is $15.25 and its 200 day moving average is $15.19.

Navient (NASDAQ:NAVI) last posted its earnings results on Wednesday, October 30th. The credit services provider reported $1.45 EPS for the quarter, beating the consensus estimate of $0.25 by $1.20. The company 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 quarter in the prior year, the business earned $0.84 earnings per share. As a group, analysts predict that Navient will post 2.47 earnings per share for the current fiscal year.

Insider Transactions at Navient

In related news, EVP Stephen M. Hauber sold 10,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $15.00, for a total transaction of $150,000.00. Following the sale, the executive vice president now owns 256,883 shares in the company, valued at $3,853,245. The trade was a 3.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 27.99% of the company’s stock.

Hedge Funds Weigh In On Navient

Several large investors have recently bought and sold shares of NAVI. IAG Wealth Partners LLC acquired a new position in shares of Navient in the second quarter valued at approximately $50,000. KBC Group NV increased its position in Navient by 47.0% in the 3rd quarter. KBC Group NV now owns 4,355 shares of the credit services provider’s stock valued at $68,000 after acquiring an additional 1,392 shares during the period. Signaturefd LLC increased 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 valued at $70,000 after acquiring an additional 869 shares during the period. nVerses Capital LLC bought a new position in shares of Navient during the third quarter valued at $87,000. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of Navient during the third quarter worth $95,000. 97.14% of the stock is currently owned by 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.