Navient (NASDAQ:NAVI) Price Target Lowered to $11.00 at JPMorgan Chase & Co.

Navient (NASDAQ:NAVI - Free Report) had its target price cut by JPMorgan Chase & Co. from $13.50 to $11.00 in a research note released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the credit services provider's stock.

A number of other research analysts also recently issued reports on NAVI. Bank of America lowered their price target on Navient from $17.00 to $16.00 and set a "neutral" rating on the stock in a report on Tuesday, December 24th. Keefe, Bruyette & Woods reduced their price target on shares of Navient from $16.00 to $14.00 and set a "market perform" rating for the company in a research note on Monday, March 31st. Seaport Res Ptn upgraded shares of Navient from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 21st. StockNews.com downgraded shares of Navient from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. Finally, TD Cowen upgraded Navient from a "strong sell" rating to a "hold" rating in a research note on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $13.00.

Navient Stock Down 3.6 %

Navient stock traded down $0.41 during mid-day trading on Tuesday, hitting $11.01. The company had a trading volume of 594,582 shares, compared to its average volume of 795,212. Navient has a 12 month low of $10.53 and a 12 month high of $16.97. The company has a market capitalization of $1.13 billion, a PE ratio of 9.49 and a beta of 1.24. The stock's 50 day moving average price is $13.16 and its two-hundred day moving average price is $14.12. The company has a current ratio of 9.48, a quick ratio of 9.49 and a debt-to-equity ratio of 16.35.

Navient (NASDAQ:NAVI - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The credit services provider reported $0.25 earnings per share for the quarter, missing analysts' consensus estimates of $0.26 by ($0.01). Navient had a net margin of 2.96% and a return on equity of 6.69%. As a group, sell-side analysts anticipate that Navient will post 1.04 earnings per share for the current fiscal year.

Navient Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were issued a $0.16 dividend. The ex-dividend date was Friday, March 7th. This represents a $0.64 dividend on an annualized basis and a yield of 5.81%. Navient's dividend payout ratio is currently 55.17%.

Institutional Trading of Navient

Hedge funds have recently bought and sold shares of the stock. Sterling Capital Management LLC grew its stake in shares of Navient by 815.0% during the 4th quarter. Sterling Capital Management LLC now owns 2,443 shares of the credit services provider's stock valued at $32,000 after acquiring an additional 2,176 shares during the period. GAMMA Investing LLC raised its position in shares of Navient by 2,663.1% during the 1st quarter. GAMMA Investing LLC now owns 8,096 shares of the credit services provider's stock valued at $102,000 after purchasing an additional 7,803 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Navient during the 4th quarter valued at $167,000. Brevan Howard Capital Management LP boosted its holdings in Navient by 16.3% in the 4th quarter. Brevan Howard Capital Management LP now owns 12,877 shares of the credit services provider's stock worth $171,000 after buying an additional 1,804 shares during the period. Finally, Twinbeech Capital LP purchased a new stake in Navient in the 4th quarter worth $173,000. Institutional investors own 97.14% of the company's stock.

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.